Asia Pacific Portfolio Strategy Asian equity market daily update

Portfolio Strategy Research 25 August 2026 | 12:28AM SGT

Asia-Pacific Portfolio Strategy: Asian equity market daily update

The MXAPJ Index dropped 1.6% today. Australia and Philippines markets Timothy Moe, CFA | outperformed, while Korea and China markets underperformed. Within MXAPJ Goldman Sachs (Singapore) Pte

sectors, Materials and Energy led while Info Tech and Comm Serv lagged. MSCI Japan Alvin So, CFA | was flat 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 21.4% 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% 20.9% 0.5% 21.4% -1.6% MXAPJ ex Korea ex Taiwan 16.2% -2.0% -0.3% -2.3% -0.9% Terry Chan By MSCI markets | Goldman Sachs (Asia) L.L.C. Indonesia -6.8% -31.6% -4.0% -35.6% -0.8% China (MXCN) 28.1% -9.3% -0.6% -9.9% -2.2% India 3.0% -3.8% -5.9% -9.7% -0.2% China-A (CSI300) 21.8% -1.4% 3.9% 2.4% -1.2% Malaysia 10.6% 3.8% 0.4% 4.3% 0.0% Philippines -2.6% 9.7% -5.1% 4.6% 0.3% Hong Kong 29.3% 8.3% -0.8% 7.5% -0.8% Australia 10.9% 5.8% 7.9% 13.7% 0.4% Japan 22.1% 19.5% -1.7% 17.8% 0.0% Singapore 26.9% 20.1% 1.5% 21.6% 0.0% Thailand 3.1% 26.2% -4.4% 21.7% -0.7% Taiwan 36.2% 59.2% -2.1% 57.1% -0.9% Korea 96.6% 78.8% 7.4% 86.2% -4.2% By MXAPJ GICS 1 sectors Comm Serv 37.3% -18.4% -2.6% -21.0% -2.3% Cons Disc 13.2% -7.4% -2.9% -10.3% -2.5% Cons Stap 1.8% -1.3% -1.4% -2.7% 0.0% Utilities 1.8% 1.6% -0.7% 0.8% -0.6% Energy 14.5% 4.3% -2.0% 2.3% 0.1% Real Estate 7.1% 3.2% 1.3% 4.5% -0.2% Financials 20.8% 5.4% 1.6% 7.0% -0.6% Health Care -0.3% 8.8% -0.8% 8.0% -0.6% Industrials 29.2% 14.3% 0.8% 15.2% -0.6% Materials 31.9% 18.7% 0.2% 18.9% 1.4% Info Tech 50.7% 64.9% 6.4% 71.4% -2.8%

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

Report priced as of Aug 24, 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