Asia Pacific Portfolio Strategy Asian equity market daily update

Portfolio Strategy Research 25 August 2026 | 5:59PM SGT

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index rose 0.4% today. Taiwan and Singapore markets outperformed, Timothy Moe, CFA | while Philippines and Hong Kong markets underperformed. Indonesia and Malaysia Goldman Sachs (Singapore) Pte

markets were closed today. Within MXAPJ sectors, Health Care and Cons Stap led Alvin So, CFA | while Energy and Materials lagged. MSCI Japan also rose 0.4% today. Goldman Sachs (Asia) L.L.C.

Kinger Lau, CFA For a detailed analysis, please see Korea: Positive strategic view intact despite sharp | Goldman Sachs (Asia) L.L.C. drawdown, Aug 4, 2026. Sunil Koul | Exhibit 1: The MXAPJ index has gained 21.8% YTD after gaining 27% in 2025, particularly Goldman Sachs International

led by Korea and Taiwan markets while dragged down by Indonesia, China, and India. John Kwon Sectorally, Info Tech and Materials are leaders in 2026. | 2026 YTD 2026 YTD Goldman Sachs (Singapore) Pte 2025 USD 2026 FX Daily USD Index price return LOC price Impact USD price Amorita Goel, CFA return return price return | Goldman Sachs (Singapore) Pte MXAPJ 26.8% 21.5% 0.4% 21.8% 0.4% MXAPJ ex Korea ex Taiwan 16.2% -1.8% -0.4% -2.2% 0.1% Terry Chan By MSCI markets | Goldman Sachs (Asia) L.L.C. Indonesia -6.8% -31.4% -4.0% -35.4% 0.0% China (MXCN) 28.1% -9.3% -0.6% -9.9% 0.1% India 3.0% -4.0% -5.8% -9.8% -0.2% China-A (CSI300) 21.8% -1.7% 3.9% 2.2% -0.2% Philippines -2.6% 8.5% -5.1% 3.3% -1.2% Malaysia 10.6% 3.8% 0.4% 4.2% 0.0% Hong Kong 29.3% 7.4% -0.8% 6.7% -0.8% Australia 10.9% 6.6% 7.7% 14.2% 0.6% Japan 22.1% 20.1% -2.0% 18.1% 0.4% Thailand 3.1% 26.0% -4.9% 21.1% -0.4% Singapore 26.9% 20.7% 1.4% 22.1% 0.7% Taiwan 36.2% 60.6% -2.3% 58.3% 1.0% Korea 96.6% 79.9% 7.1% 87.0% 0.3% By MXAPJ GICS 1 sectors Comm Serv 37.3% -20.8% 0.0% -20.8% 0.3% Cons Disc 13.2% -9.1% -1.3% -10.4% -0.1% Cons Stap 1.8% -0.4% -1.5% -1.9% 0.7% Utilities 1.8% 3.8% -2.8% 1.0% 0.0% Energy 14.5% 3.5% -1.9% 1.6% -0.7% Real Estate 7.1% 3.0% 0.8% 3.8% -0.6% Financials 20.8% 6.8% 0.8% 7.6% 0.6% Health Care -0.3% 5.8% 3.2% 8.9% 0.9% Industrials 29.2% 15.1% 0.2% 15.3% 0.0% Materials 31.9% 16.3% 2.3% 18.6% -0.2% Info Tech 50.7% 71.1% 1.2% 72.3% 0.6%

Source: Bloomberg, FactSet, MSCI, Goldman Sachs Global Investment Research

Report priced as of Aug 25, 2026, 3:30pm HKT.

Investors should consider this report as only a single factor in making their investment decision. For Reg AC certification and other important disclosures, see the Disclosure Appendix, or go to

Goldman Sachs Asia-Paci昀c Portfolio Strategy

Exhibit 2: MSCI Asia-Paci昀c market indices valuation and potential return

Source: LSEG Data & Analytics, FactSet, MSCI, Goldman Sachs Global Investment Research