Asian Equity Market Daily Update

The MSCI Asia-Pacific ex-Japan (MXAPJ) Index rose 0.4% on February 16, 2026, extending year-to-date gains to 10.3%. Hong Kong and Thailand outperformed during the session, while Japanese markets saw a 1% decline.

Key Takeaways

• 1.The MXAPJ Index rose 0.4% today, with Hong Kong and Thailand markets outperforming.
• 2.The MXAPJ index has gained 10.3% year-to-date, primarily led by Korea and Thailand.
• 3.Equity valuations for Asian markets appear expensive relative to bonds, with the yield gap at -1.6 standard deviations.

Table of Contents

• Asian markets at a glance
• Market valuations
• Japan in a nutshell
• Performance and correlation heatmap
• Market breadth and baskets performance
• Macro environment and financial conditions
• Earnings revisions of regional markets and sectors
• Disclosure Appendix

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