Business · Markets · 3 hrs ago
Non-tech sectors are also driving Asian market gains
Technology accounts for six of Asia’s 15 best-performing market sectors so far in 2026, but nine of the top sectors are outside technology.
Financials, energy, industrials and process industries are benefiting from investment, including spending linked to data centres.
Defence spending is rising worldwide amid military tensions and pressure on European allies to spend more.
Asian arms makers may benefit as Western manufacturers face limits on production, while several Asian countries are trying to build more defence equipment at home.
Defence needs are also driving infrastructure investment, from transport links to energy grids and communications networks.
McKinsey forecasts $106 trillion in global infrastructure investment through 2040, with Asia accounting for about 65%.
The region’s market gains may extend beyond the AI boom, though doubts about technology growth could still unsettle Asian markets.
Non-tech sectors are helping drive Asian market gains alongside technology, according to a Reuters analysis published by Mint.
Technology accounts for six of Asia’s 15 best-performing market sectors so far in 2026, while the other nine include financials, energy, industrials and process industries.
Some investment in power generation, grid infrastructure and industrial cooling is linked to data-centre demand.
Geopolitical tensions and high energy prices are also supporting non-tech investment themes.
Defence spending and infrastructure needs are among the trends cited as potential drivers of Asian companies’ growth.
- Who
- Asian companies in financials, energy, industrials and process industries, as well as technology, are contributing to market gains.
- What
- Non-tech sectors are helping drive Asian market gains alongside technology.
- When
- The analysis was published on October 19, 2026, and discusses sector performance so far in 2026.
- Where
- Asia.
- Why
- Investment is being supported by factors including data-centre needs, geopolitical tensions, high energy prices, defence spending and infrastructure development.
This story does not have two clearly opposing sides.
Russia’s invasion of Ukraine began a trend of rising global defence spending, according to the article.
NATO members committed to raise annual defence spending to 5% of GDP by 2035.
US-Israeli strikes on Iran preceded an escalation in the wider Middle East conflict, the article says.
Technology accounted for six of Asia’s 15 best-performing market sectors.
- Technology sectors
- 6 of Asia’s 15 best-performing sectors so far in 2026
- NATO defence commitment
- 5% of GDP annually by 2035
- South Korean arms exports
- 8.6% of arms imported by European NATO members in 2021–25
- Global infrastructure investment
- $106 trillion forecast through 2040
- Asian transport infrastructure
- $2.6 trillion annual investment potentially required through 2035