Goldman Sachs
May 28, 2026
Asian Equity Market Daily Update
Daily UpdateEquitiesRates Govt BondsFXInformation TechnologyUtilities
The MXAPJ Index gained 1.2% on May 27, 2026, supported by strong performance in Korea and Taiwan's technology sectors, although regional valuations remain stretched relative to bonds.
Key Takeaways
- 1.The MXAPJ Index rose 1.2% on May 27, led by outperformance in Korea and Taiwan, while China and Hong Kong underperformed.
- 2.Information Technology and Utilities were the leading sectors, while Consumer Discretionary and Energy sectors lagged.
- 3.Asian equity valuations appear expensive relative to bonds, with the equity/bond yield gap standing at around 320bp.
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
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Authors
Timothy Moe, CFASunil Koul
Securities
MXAPJMXCNTOPIXCSI300
Themes
AI and Semiconductor Powered OutperformanceRelative Value: Equities vs. Bonds
Regions
Asia PacificSouth KoreaTaiwanChina
