The Asia-Pacific region in financial markets (for funds, indices and research) covers the geography between Australia and New Zealand in the south up to South Korea and Japan in the north, including the whole of the ASEAN region, China and India. When commentators describe “Asia” without the Pacific phrase, Australia and New Zealand are excluded from this list. Nearly always, the inclusion or exclusion of Japan is clearly stated (for example, “Asia-Pacific ex-Japan”, “Asia cum-Japan”).