Asian Equity Market Daily Update

The MXAPJ index rose 0.7% on May 14, 2026, bringing YTD gains to 22.3%, driven largely by Information Technology and strong performance in Korea and Taiwan. Valuation metrics indicate equities are becoming expensive relative to bonds with a yield gap of 330bp.

Key Takeaways

• 1.The MXAPJ Index rose 0.7% on the day, with Korea and Thailand outperforming.
• 2.The MXAPJ has gained 22.3% YTD, heavily driven by Korea (102.1%) and Taiwan (48.7%).
• 3.Asian equity valuations appear expensive relative to bonds, with the MXAPJ yield gap at 330bp.

Table of Contents

• 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
• Disclosure Appendix

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