Report published September 7, 2026

Goldman Sachs Asia-Pacific Portfolio Strategy: Asian Equity Market Daily Update

Goldman Sachs · September 7, 2026

The MSCI AC Asia Pacific ex-Japan (MXAPJ) Index rose 1.7% on September 7, 2026, driven by strong performances in Korea (+6.0%) and Taiwan (+2.4%), alongside Info Tech sector gains (+4.0%). Goldman Sachs maintains a 12-month base case target of 1,120 (+24% upside) for MXAPJ, citing significant valuation discounts compared to US and European equities.

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Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.

Key Takeaways

1.The MXAPJ Index gained 1.7% on the day, driven by strong rallies in Korea (+6.0%) and Taiwan (+2.4%), while China (-0.7%) and Indonesia (-0.8%) lagged.
2.By sector, Info Tech (+4.0%) and Industrials (+1.9%) led daily gains across the region, while Real Estate (-0.7%) and Consumer Staples (-0.6%) underperformed.
3.Year-to-date in 2026, MXAPJ has advanced 25.4% in USD terms, driven primarily by tech leadership with Korea up 101.2% USD and Taiwan up 68.1% USD.

Asian markets at a glance
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

Report data

Exhibit 1: The MXAPJ index has gained 25.4% YTD after gaining 27% in 2025, particularly led by Korea and Taiwan markets while dragged down by Indonesia, China, and India. Sectorally, Info Tech and Industrials are leaders in 2026. — as of September 7, 2026.

Metric	Estimate	Context
MXAPJ Daily USD Price Return	1.7%	MSCI AC Asia Pacific ex-Japan Index daily USD price return.
Korea Equity Daily USD Price Return	6.0%	MSCI Korea daily return outperforming the regional index.
Taiwan Equity Daily USD Price Return	2.4%	MSCI Taiwan daily return outperforming the regional index.
MXAPJ 12M Target Upside	24.0%	Goldman Sachs base case 12M target of 1,120 compared to current level of 906.
MXAPJ Equity/Bond Yield Gap	460.0 bps	Indicates mid-cycle equity valuations relative to bonds (0.0 standard deviations).

Source: Bloomberg, FactSet, MSCI, Goldman Sachs Global Investment Research; LSEG Data & Analytics, FactSet, MSCI, Goldman Sachs Global Investment Research; FactSet, MSCI, Goldman Sachs Global Investment Research. This is a dated model snapshot, not a live forecast.