Asian Equity Market Daily Update

The MSCI Asia Pacific ex-Japan Index fell 1.1% on May 19, 2026, though it remains up 17.2% YTD. Underperformance was led by Korea and Indonesia, while Info Tech lagged sectorally.

Key Takeaways

• 1.The MXAPJ Index declined 1.1% on the day, with Korea and Indonesia underperforming while Singapore and Australia outperformed.
• 2.Despite the daily drop, the MXAPJ has gained 17.2% YTD in 2026, driven primarily by Korea and Taiwan.
• 3.Asian equity valuations are considered expensive relative to bonds, with the equity/bond yield gap at approximately 340bp (-1.1 s.d.).

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

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial