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G Sachs Lifts Earnings Forecasts & Index Targets for Asian Mkts, Recommends Overweight on JP/ S Korea/ CN Mkts
2026-02-13 15:09:06
Goldman Sachs holds a positive outlook on Asian stock markets and anticipates further growth. It has raised its 2026 earnings growth forecasts for the MSCI Asia (ex-Japan) (MXAPJ) Index from 24% to 31%, considering favorable trends in the semiconductor industry. It also expects earnings growth in the South Korean market to reach 120% (previously 75%) and 32% (previously 30%) in the Taiwanese market.

Meanwhile, Goldman Sachs has increased the MXAPJ index target from 855 to 890, reflecting potential returns of 13% and 15% in USD terms and total returns, respectively. Believing returns to be more concentrated in 1H26, the broker has also lifted the 3-month and 6-month index targets to 830 and 860, respectively.

In terms of regional allocation, Goldman Sachs has kept an Overweight rating on South Korea, China (including offshore and A-shares), and India, and has upgraded Japan back to Overweight.
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