Week of 9 - 13 February 2026 |  Asia and EM equities lead

In this edition of Amundi's Weekly Market Directions: 

• Most equity indexes in Asia rose more YTD than both the US and Europe, except for China. Within EM, Latin America also saw strong gains. 

• Looking to Asia, the rally suggests that investors are moving outside of US mega caps to AI supply-chain enablers.
 
• With persistent uncertainty, diversification* across countries and sectors, with a focus on quality and balance-sheet discipline, has become paramount. 

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Monica Defend

Monica Defend

Head of Amundi Investment Institute

Asia and emerging markets' rally reflects a move beyond US mega-caps, as investors broaden the tech theme and diversify across regions and sectors to avoid concentration risk. Overall, we believe diversification and flexibility will be structurally important going forward.

Monica Defend, Head of Amundi Investment Institute

Read the full weekly market directions

* Diversification does not guarantee a profit or protect against a loss. 

Unless otherwise stated, all information contained in this document is from Amundi Asset Management S.A.S. and is as of 16 February 2026. Diversification does not guarantee a profit or protect against a loss. The views expressed regarding market and economic trends are those of the author and not necessarily Amundi Asset Management S.A.S. and are subject to change at any time based on market and other conditions, and there can be no assurance that countries, markets or sectors will perform as expected. These views should not be relied upon as investment advice, a security recommendation, or as an indication of trading for any Amundi product. This material does not constitute an offer or solicitation to buy or sell any security, fund units or services. Investment involves risks, including market, political, liquidity and currency risks. Past performance is not a guarantee or indicative of future results.
 

Date of first use: 16 February 2026

Doc ID: 5220448