Report published August 26, 2026
Goldman Sachs: Asian Equity Market Daily Update (August 26, 2026)
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- August 26, 2026
- Analysis as of
- August 26, 2026
Authors / editors: Timothy Moe, CFA, Alvin So, CFA, Kinger Lau, CFA, Sunil Koul, John Kwon, Amorita Goel, CFA, Terry Chan
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.
The MXAPJ Index rose 0.8% on August 26, 2026, bringing YTD USD returns to 23.0%, led by outperformance in Taiwan, Korea, and the Info Tech sector. Goldman Sachs maintains a 12-month base case target of 1080 (+22% upside) on MXAPJ.
Key Takeaways
- 1.The MXAPJ Index rose 0.8% on the day, bringing 2026 YTD USD gains to 23.0%, largely driven by strong performances in Korea and Taiwan.
- 2.By sector, Info Tech (+1.4% daily, +74.7% YTD) and Materials (+0.9% daily, +20.0% YTD) led the regional market performance.
- 3.Goldman Sachs targets a 12-month base case level of 1080 for MXAPJ (+22% upside) at a target forward P/E of 12.4x.
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
Report data
Exhibit 1: The MXAPJ index has gained 23% YTD after gaining 27% in 2025, particularly led by Korea and Taiwan markets while dragged down by Indonesia, India, and China. Sectorally, Info Tech and Materials are leaders in 2026. — as of August 26, 2026.
| Metric | Estimate | Context |
|---|---|---|
| Daily USD price return | 0.8% | MXAPJ Index daily USD performance |
| 2026 YTD USD price return | 23.0% | MXAPJ Index YTD USD performance |
| Current 12M forward P/E | 10.9 X | MXAPJ valuation multiple |
| 12M target (% upside) | 1080 (+22%) index points | Goldman Sachs base case 12M price target for MXAPJ |
Reports in this series
Asia-Pacific Portfolio Strategy is shown in chronological order through this edition, published on August 26, 2026.
Part of the Asia-Pacific Portfolio Strategy series — view all 11 editions
Looking for the latest edition? Asia Pacific Portfolio Strategy Korea Attractive Shareholder Returns Backed by Strong Fundamentals and Policy Drivers (Sep 9, 2026)
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Authors / Editors
Reported Data Context
- Daily USD price return: 0.8 % (2026-08-26) · Source: Bloomberg, FactSet, MSCI, Goldman Sachs Global Investment Research
- 2026 YTD USD price return: 23.0 % (2026 YTD) · Source: Bloomberg, FactSet, MSCI, Goldman Sachs Global Investment Research
- Current 12M forward P/E: 10.9 X (2026-08-26) · Source: LSEG Data & Analytics, FactSet, MSCI, Goldman Sachs Global Investment Research
- 12M target (% upside): 1080 (+22%) index points (12-month forward) · Source: Goldman Sachs Global Investment Research
Securities
Themes
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