Asia Pacific Portfolio Strategy Asian equity market daily update

Portfolio Strategy Research 20 August 2026 | 7:38PM SGT

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index rose 2.0% today. Korea and Indonesia markets outperformed, Timothy Moe, CFA | while Singapore and Australia markets underperformed. Within MXAPJ sectors, Info Goldman Sachs (Singapore) Pte

Tech and Materials led while Financials and Cons Stap lagged. MSCI Japan also rose Alvin So, CFA | 1.2% 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 22.1% YTD after gaining 27% in 2025, particularly Goldman Sachs International

led by Korea and Taiwan markets while dragged down by Indonesia, India, and China. John Kwon Sectorally, Info Tech and Industrials 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% 22.0% 0.1% 22.1% 2.0% MXAPJ ex Korea ex Taiwan 16.2% -1.5% -0.5% -2.0% 0.5% Terry Chan By MSCI markets | Goldman Sachs (Asia) L.L.C. Indonesia -6.8% -32.0% -4.1% -36.0% 2.0% India 3.0% -3.7% -5.9% -9.6% 0.5% China (MXCN) 28.1% -8.0% -0.7% -8.7% 0.9% China-A (CSI300) 21.8% -0.8% 3.8% 3.0% 0.1% Malaysia 10.6% 3.7% 0.4% 4.1% 0.6% Philippines -2.6% 9.3% -5.0% 4.4% 1.9% Hong Kong 29.3% 6.9% -0.8% 6.1% 0.7% Australia 10.9% 5.7% 7.1% 12.8% -0.1% Japan 22.1% 19.3% -1.2% 18.1% 1.2% Singapore 26.9% 20.1% 1.5% 21.6% -0.2% Thailand 3.1% 27.1% -5.2% 21.9% 0.8% Taiwan 36.2% 59.6% -2.3% 57.2% 0.7% Korea 96.6% 83.7% 6.3% 90.0% 7.7% By MXAPJ GICS 1 sectors Comm Serv 37.3% -18.7% -1.3% -20.0% 0.6% Cons Disc 13.2% -7.4% 0.3% -7.2% 0.9% Cons Stap 1.8% -1.1% -1.5% -2.6% 0.2% Utilities 1.8% 3.1% -2.6% 0.5% 0.5% Energy 14.5% 2.4% -0.9% 1.5% 0.2% Real Estate 7.1% 4.0% 0.4% 4.4% 1.0% Financials 20.8% 6.8% -0.6% 6.2% -0.4% Health Care -0.3% 9.4% -0.3% 9.1% 2.2% Materials 31.9% 15.4% 0.8% 16.1% 2.3% Industrials 29.2% 17.2% -1.1% 16.1% 1.2% Info Tech 50.7% 83.1% -9.9% 73.2% 4.0%

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

Report priced as of Aug 20, 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