Asia-Pacific Portfolio Strategy: Asian Equity Market Daily Update

The MXAPJ index rose 0.8% on June 22, 2026, bringing YTD gains to 28.1%. Market performance remains highly divergent, with significant outperformance in Taiwan and Korea versus weakness in Indonesia and China.

Key Takeaways

• 1.The MXAPJ Index rose 0.8% today, with Taiwan and China A markets outperforming while Indonesia and Philippines markets underperformed.
• 2.Equity/bond yield gaps for both MXAPJ and MXJP suggest that equity valuations are currently expensive relative to bonds.

Table of Contents

• Market valuations
• Japan in a nutshell
• Performance and correlation heatmap
• Fund Flows and Liquidity
• Market breadth and baskets performance
• Macro environment and financial conditions
• Earnings revisions of regional markets and sectors

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