🌐 EM Fund Stock Picks & Country Commentaries Stocks (Sept/Q3 2026)
This is a long weekend for Diwali in Malaysia (plus Singapore, India, etc), so I will push our normal Sunday and Monday post ahead a day. This post is intended to supplement our normal Sunday fund related posts and it covers:
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Some interesting stocks that came up in recent fund updates that have been added to our Frontier & Emerging Market Stock Index and denoted by ➕s in this post accompanied by additional research (either from equity research providers or Substack). I have commented before about Substack search leaving much to be desired when searching my own Substack; but searching for specific EM/FM stocks (in I guess what is the Notes screen) is now coming up with more posts about them (or mentions in other posts – like mine) published on Substack (and it seems they have added an auto translation tool so you don’t have to use your browser translator to translate content).
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Despite my recent adventures with DeepSeek and more recently with Qwen AI “hiccupping” over China/Taiwan coverage (plus past problems with AI completely hallucinating when its allowed to bring in outside and often incorrect info), these are still useful tools for extracting and organizing info you give it. And if you do it all in one “chat” or “project,” you can then rerun the AI over all the previous responses for a decent summary that forms the basis for stocks selected for this post. In this case, for stocks that keep coming up in recent Sept/Q3 fund updates.
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I will come up with a better more organized process to improve these supplemental posts and right now am just reusing the template I used for previous Emerging Market Stock Picks (which were getting a bit lengthy and tedious).
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In this post and for the sake of transparency (as way too much AI generated slop is being passed on as having been written by a human writer), a 🤖 denotes something generated by AI (which I am still sceptical about) e.g. “🤖📉 E Ink: Fell after lowering full-year guidance due to higher memory chip costs, though managers noted long-term e-paper adoption (e.g., Walmart rollouts) remains constructive.”
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This post also covers a few stocks or research about them that I have found to be interesting e.g. United Plantations Berhad (KLSE: UPBMF / OTCMKTS: UPBMF) & Westports Holdings Bhd (KLSE: WPRTS) in Malaysia albeit these stocks have seen recent runups.
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Stock descriptions (with links to the IR and quote pages), technical charts with embedded links and some quick and dirty key stats (Price/Book / Forward P/E / Forward Annual Dividend Yield, etc) are included for every stock to help you decide whether they warrant a closer look.
Specific stocks covered in this post:
[Note: On desktop browsers, an autogenerated table of contents will appear on the left side linked to each stock. I will add those links below after publishing/emailing this post…]
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🇨🇳 China / 🇭🇰 Hong Kong / 🇲🇴 Macau – Contemporary Amperex Technology (CATL), HKBN Ltd ➕, Lenovo Group, Water Oasis Group Limited ➕, WuXi Biologics / WuXi AppTec & Zhuzhou CRRC Times Electric
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🇰🇷 Korea – Cosmax, Samsung Electronics, SK Hynix & SK Square
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🇹🇼 Taiwan – ASPEED Technology, E Ink Holdings, Largan Precision,
MediaTek, Taiwan Semiconductor Manufacturing (TSMC), Topco Scientific Co Ltd ➕, Wiwynn Corp & Yageo
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In addition, our previous Emerging Market Stock Picks has a focus on countries or stocks that are hopefully more accessible to retail investors via Interactive Brokers or via a foreign listing – see our first posts – Mid-March 2025, Early April 2025, April 2025, May 2025, June 2025, July 2025, August 2025, September 2025, October 2025, November 2025, December 2025, January 2026, February 2026, 🌏 SE Asia (March 2026), 🌐 March 2026, 🌏 SE Asia (April-May 2026), 🌐 April-May 2026, H1 June 2026, H2 June 2026 & H1 July 2026)
And as always, this post is provided for informational purposes only (and to make your life easier…). It does not constitute investment advice and/or a recommendation…
📈🗄️ Fund documents / updates; ⚠️ Disclosures or restricted access e.g. based on your location, investor status, etc.; 🇼 Wikipedia page; 🔬 Research analysis (including articles/blog posts from fund managers, etc.); 🎥 Video; 🎙️ Podcast; 🎬 Webinar; 📰 Newspaper/magazine article; 📯 Press release; 💻 Substack/blog/website article; ✅ Our own posts; 🗃️ Linked archived article; ⏰ Upcoming webinar or event.
Note: For more China & Hong Kong stock picks or ideas, see our monthly China & Hong Kong Stock Picks posts…
🤖📉 Why it fell: A consistent detractor due to concerns over slowing domestic EV demand in China, intensifying competition, automakers diversifying to “second-source” suppliers, and margin pressure from management prioritizing volume over price.
🤖🏧 Transactions: Despite the weakness, several value-oriented funds added to their positions, viewing the sell-off as an attractive entry point given CATL’s unmatched scale, massive R&D spending, and net cash balance.
Seeking Alpha had posted their slide deck in conjunction with their 2026 Q4 earnings call. In 2025, China Mobile (SHA: 600941 / HKG: 0941 / 80941 / FRA: CTM) acquired a 78.08% stake. I am otherwise not familiar with them:
🤖📈 Why it rose: Advanced on strong revenue and earnings growth in its AI server and storage business, benefiting from the shift of AI inference to corporate servers and edge computing.
🤖🏧 Transactions: Initiated as a new position by several funds transitioning into the AI hardware supply chain.
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🌐 Lenovo Group (HKG: 0992 / FRA: LHL / LHL1 / OTCMKTS: LNVGY / LNVGF) 🇭🇰 – Designing, manufacturing & marketing consumer electronics, PCs, software, servers, converged & hyperconverged infrastructure solutions, etc. 🇼 🏷️
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Price/Book (Current): 3.88
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Forward P/E: 14.75 / Forward Annual Dividend Yield: 2.17% (Yahoo! Finance)
This stock has come up in previous posts with two detailed posts from Oriental Value and a detailed thread from DaBao:
DaBao@DaBao_
1161 Water Oasis Group
-Beauty services provider, 54 beauty centers in HK
-Market Cap $HKD 1B with net cash $91M. Though if you count contract liabilities as debt then net debt is $409M
-Stock price is $1.47, dividend yield 9.9%, dividends from last 5 years totaled $0.63
4:31 AM · Aug 25, 2023 · 2.59K Views
2 Replies · 2 Reposts · 8 Likes
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Price/Book (Current): 2.07
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Trailing P/E: 8.83 (no forward P/E) / Forward Annual Dividend Yield: 6.07% (Yahoo! Finance)
🤖📈 Why it rose: Strong contributor due to results beating expectations, massive expansions in project backlogs (especially in GLP-1/peptide drugs), and favorable legal rulings (e.g., a US court blocking the DoD’s “Chinese military company” designation).
🤖🏧 Transactions: Exited by some funds due to persistent geopolitical/regulatory risks in US-China relations, while others held or bought on the dip.
🤖📉 Zhuzhou CRRC Times Electric: Detracted due to weaker-than-expected earnings, higher expenses, and foreign exchange losses, leading to uneven execution concerns.
Note: For more Korean stock picks or ideas, see our monthly Korean Stock Picks posts…
🤖📈 Cosmax: Rose on strong overseas growth and increased orders from US independent brands capitalizing on the global K-beauty trend.
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🌐 Cosmax Inc (KRX: 192820) – Researches, develops, produces & sells cosmetic, health function food & pharmaceutical products in Korea & internationally. Partnership w/ 600 beauty companies (15 of the world’s top 20 beauty companies). 🏷️
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Price/Book (Current): 4.34
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Forward P/E: 12.20 / Forward Annual Dividend Yield: 1.25% (Yahoo! Finance)
