Goldman Sachs raised its target for the MSCI AC Asia Pacific ex-Japan Index to 1,120 from 1,080, implying 26% upside. Second-quarter earnings grew 102%, with 44% beats versus only 27% misses. Earnings growth was led by Singapore, Taiwan and Indonesia, while Australia, Malaysia and India lagged. The bank now targets South Korea’s Kospi at 12,000 over 12 months, about 79% upside from current levels, boosted by the AI rally fueling semiconductor giants Samsung and SK Hynix. Goldman favors North Asia and AI-related tech hardware exposure while remaining constructive on Asian equities thanks to strong tech-driven earnings growth and attractive valuations on selected markets.
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