This impact will depend on how the conflict in the Middle East unfolds. The most likely scenario is likely to be a bloody one. Whatever the scenario, there will be several channels through which Asia will be affected.
The conflict instigated by the shocking assault on southern Israel by Palestinian Hamas militants will almost certainly intensify. The hundreds of fatalities among Israeli civilians will prompt Israel to act decisively. Israel has amassed 300,000 troops for a ground offensive into Gaza, which will surely inflict huge civilian casualties among Palestinians there.
That will inflame passions in the region to the point where a much broader and potentially bloodier conflict may ensue. For all of us in Southeast Asia, the likely loss of life is deeply saddening. We also know that even though the conflict seems far away, we cannot assume that the region will escape some fallout.

