The interconnection between the oil price and gold price with the stock market index has generated an epic amount of discussion for ages. Whilea numerous number of prior studies on different economies have drawn mixed findings, empirical findings for the relationship of those three vitaleconomic indicators in ASEAN countries remain limited and open room for further research to call for better macroeconomic policy stances. Thisinclines our paper to center on exploring the nexus between the world oil price and gold price with the movement of ASEAN+3 countries’ stock markets represented by the stock market indexes. To conduct the research, we apply different empirical techniques and models (VECM, ARDL, VAR)on a monthy dataset from January 2010 to December 2021 collected on the cases of ASEAN economies together with three other ASIAN countriesincluding India, Japan, South Korea. The study’s findings reveal the long run relationship between stock market and the oil, gold price in severalcountries covering Vietnam, Korea, Indonesia, India, and Japan, leaving the rest of the country sample with short-run dynamics between those threemacro indicators. Besides, the results also indicate that even though the impacts of oil prices and gold prices on the stock price index of emerging economies are inconsistent, the shocks to oil price in comparison with gold price swings seem to have more impact on the movements of stockmarket indices.