Asia Pacific Portfolio Strategy Asian equity market daily update

Portfolio Strategy Research 21 September 2026 | 8:16PM SGT

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index rose 1.3% today. Korea and Taiwan markets outperformed, while Timothy Moe, CFA | Indonesia and Philippines markets underperformed. Japan markets were closed Goldman Sachs (Singapore) Pte

today. Within MXAPJ sectors, Health Care and Info Tech led, while Materials and Alvin So, CFA | Utilities lagged. Goldman Sachs (Asia) L.L.C.

Kinger Lau, CFA For a detailed analysis, please see Asian Equity Perspectives: Into the home stretch, | Goldman Sachs (Asia) L.L.C. Aug 30, 2026. Sunil Koul | Exhibit 1: The MXAPJ index has gained 23.4% 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% 23.0% 0.4% 23.4% 1.3% MXAPJ ex Korea ex Taiwan 16.2% -4.5% -0.6% -5.1% 0.7% Terry Chan By MSCI markets | Goldman Sachs (Asia) L.L.C. Indonesia -6.8% -34.8% -4.2% -39.0% -1.2% India 3.0% -6.7% -5.8% -12.5% 0.3% China (MXCN) 28.1% -10.9% -0.7% -11.6% 1.2% Philippines -2.6% 2.5% -6.5% -4.0% 0.0% Malaysia 10.6% 0.6% -0.5% 0.1% 0.4% China-A (CSI300) 21.8% -2.0% 4.2% 2.2% 0.7% Hong Kong 29.3% 4.8% -0.8% 4.0% 0.5% Australia 10.9% 1.8% 7.0% 8.8% 0.3% Thailand 3.1% 24.9% -6.7% 18.2% 0.8% Singapore 26.9% 18.5% 1.0% 19.5% 0.6% Japan 22.1% 20.2% -0.5% 19.7% 0.0% Taiwan 36.2% 70.6% -1.8% 68.8% 1.4% Korea 96.6% 89.3% 8.5% 97.8% 2.7% By MXAPJ GICS 1 sectors Comm Serv 37.3% -24.5% 0.9% -23.6% 1.1% Cons Disc 13.2% -17.5% 0.6% -16.9% 0.6% Cons Stap 1.8% -6.1% -0.6% -6.6% 0.3% Real Estate 7.1% -3.5% -0.3% -3.8% 0.6% Utilities 1.8% 1.0% -1.2% -0.2% 0.2% Energy 14.5% 2.2% -2.0% 0.2% 0.9% Health Care -0.3% 5.6% 1.7% 7.3% 2.3% Financials 20.8% 8.1% 1.4% 9.5% 0.8% Materials 31.9% 9.0% 2.4% 11.4% -0.4% Industrials 29.2% 12.8% 0.5% 13.3% 0.5% Info Tech 50.7% 83.7% -0.4% 83.3% 2.0%

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

Report priced as of Sep 21, 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