| ARMA | GARCH | |
| Singapore | (4,5) | (1,1) |
| Malaysia | (5,2) | (1,1) |
| Hong Kong of China | (5,4) | (1,1) |
| Indonesia | (2,4) | (1,1) |
| South Korea | (4,5) | (1,1) |
| Philippines | (5,2) | (1,1) |
| Thailand | (5,5) | (1,1) |
| China | (5,4) | (1,1) |
| Taiwan of China | (5,5) | (1,1) |
| India | (4,5) | (1,1) |