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S. Korea, Thailand Seen as Biggest Winners From Oil Drop by BofA

South Korea, Thailand and Philippines are Asia’s biggest economic winners from a drop in oil prices, according to Bank of America Corp.

A ten percent decline in oil prices means gross domestic product growth of 45 basis points in both South Korea and Thailand, economists including Chua Hak Bin and Lee Jaewoo wrote in a Dec. 1 report on the region’s 2015 outlook, which excludes Japan. The Philippines gets a 30 basis point boost while Malaysia -- as an oil exporting country -- is the sole loser among Asia’s emerging economies, according to the report.