Asian economies remained relatively immune to the credit crunch in the US and Europe but faced heightened uncertainty as the subprime crisis continued to unravel, the United Nations warned on Thursday.

Taiwan, Singapore and South Korea would be most vulnerable to the impact of a US recession and further declines in the dollar, given their dependence on high-technology exports, the UN’s Economic and Social Commission for Asia and the Pacific said in its annual report. Indonesia, Thailand and the Philippines would suffer to a lesser degree.