Asia Equity Futures Monthly Roll Update May 2026

研报英文原文证据摘录

Asia Equity Futures Monthly Roll Update May 2026

May 18, 2026

This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be

reprinted, sold or redistributed without the written consent of J.P. Morgan.

Please note the long form nomenclature for China, Hong Kong, Taiwan and Macau are Mainland China; Hong Kong SAR, China; Taiwan, China; Macau SAR, China. Global Markets Strategy

Asia Equity Futures Monthly Roll Update - May-2026 (+852) 2800 7109 twinkle.mehta@jpmorgan.com Twinkle MehtaAC

Data as of May 15, 2026. Source for data: J.P. Morgan, Bloomberg Finance L.P., MSCI +(852) 2800-8857 tony.sk.lee@jpmorgan.com Tony Lee

J.P. Morgan Securities (Asia Pacific) Limited /J.P. Morgan Broking (Hong Kong) Limited +(852) 2800-7736 haoshun.liu@jpmorgan.com Haoshun Liu

+(852) 2800-1029 xipu.han@jpmorgan.com Xipu Han

• Asian equities extended their rally in May 2026, with MSCI Asia Pacific up 6.1% month-to-date. The AI and semiconductor boom powered gains, with Korea’s Foreign & ETF Flows

KOSPI2 (+17.2%) and Taiwan’s TAMSCI (+6.3%) leading on chip strength, while NIFTY (-1.5%) and AS51 (-0.4%) lagged. Foreign flows were skewed towards WoW MTD 20 ($bn, Cumulative) outflows, led by Korea ($16.5bn) and India ($2.0bn), while Taiwan attracted $3.0bn in inflows on continued semiconductor dema nd. Asia equity index May-

26/Jun-26 futures rolls are mostly trading rich. TPX 0.9% 3.7% 3 0

HSI -1.6% 0.7% 9 -20 • As of May 15, HSTECH futures rolls closed at the highest premium (ann. 1.01% vs 1Y avg 0.21%) followed by NSEBANK (ann. 0.86% vs 1Y avg 0.39%). On Buy/Sell

the other end, XIN9I futures rolls closed at the highest discount (ann.