Typically only those at the very top of the wealth distribution are affected by changes in stock prices, although these have an impact on retirement savings as well. Meanwhile, the impact of movements in house prices often have an ambiguous effect on inequality, as it is households in the middle of the income and wealth distribution that generally own their own home.
To the extent this is driven by uptrend in international oil and food prices with the latter being more a supply side phenomena, central banks in Asia have held on to their monetary policy stance.