Goldman Sachs predicts 19% return for Asian equities outside Japan by 2027. According to Jinse Finance, Goldman Sachs expects corporate earnings growth to drive a 19% return in USD terms next year for the MSCI Asia ex-Japan Index, despite potential increased market volatility due to uncertainties in the artificial intelligence (AI) sector. The bank upgraded its rating on Chinese H-shares and Indian equities to "overweight," while maintaining its "overweight" view on South Korean and Japanese equities.