🌐 Emerging Market Stock Picks (2nd Half June 2026)

In recent interviews, Martin Armstrong in the the alt-finance news space has talked about a new report by his firm about the potential for a sovereign debt crisis starting in the Middle East:

🔬 Sovereign Debt Crisis & the Middle East (Armstrong Economics) April 2026

Armstrong’s premise is that Middle East countries borrowed heavily during COVID when energy prices cratered – leaving them exposed as follows (per the report):

I have commented in the past that drones and missiles hitting malls/luxury hotels/airports is not a good look for so-called “safe havens” for wealth which has me wondering how exposed Middle East banks are to problems e.g. construction loans to real estate developers (as even if most purchases are cash, the banks would still be financing or on the hook for some construction related loans/financing, etc).

Likewise, the Gulf States will have to do some rebuilding and rerouting of infrastructure away from the Strait of Hormuz. This means less investment for the USA’s AI stock bubble and whatever else they may have promised to invest in the US to appease Trump. They may even need to liquidate some US investments (although they will have to be careful not to anger Trump for the next two years) to pay for the rebuilding plus rearming of militaries (e.g. depleted missile stocks, etc.).

Specific stocks covered in this post (with a focus on some 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) plus a further DeepSeek summary/analysis of 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…]

• Asia

  • East Asia

  • SE Asia

    • Three implications as the Super El Niño heats up

    • 🇮🇩 Indonesia – Indonesia Equity Market Reform / Commodity Export Controls / Auto Sales, Bank Negara Indonesia, Nusantara Sejahtera Raya Tbk PT, Impack Pratama Industri Tbk PT, PT Bach Multi Global Tbk, VKTR Teknologi Mobilitas Tbk PT, Bank Tabungan Negara (Persero) Tbk PT, ESSA Industries Indonesia Tbk PT, Mitra Keluarga Karyasehat Tbk PT, Bank Central Asia (BCA) Tbk PT, Chandra Asri Pacific PT Tbk, First Resources Ltd, Mayora Indah Tbk PT, Sido Muncul (Sido) Tbk PT, Japfa Comfeed Indonesia Tbk PT, Telkom Indonesia Persero Tbk PT, Barito Renewables Energy, Bank Mandiri Tbk PT & Solusi Sinergi Digital Tbk PT

    • 🇲🇾 Malaysia

    • 🇵🇭 Philippines

    • 🇸🇬 Singapore – Singapore Exchange Limited, SATS Ltd, OUE Real Estate Investment Trust, CapitaLand Integrated Commercial Trust & City Developments Limited, CapitaLand Ascott Trust & Far East Hospitality Trust, CapitaLand Investment Limited, Info-Tech Systems, Singapore Telecommunications Ltd, Food Empire Holdings Ltd, ComfortDelGro Corporation, Olam Group Ltd, CSE Global Ltd, DBS Group and Oversea-Chinese Banking Corp (OCBC), UOB-Kay Hian Holdings Ltd, Starhill Global Real Estate Investment Trust, Delfi Limited, UI Boustead REIT & Lincotrade & Associates Holdings Ltd

    • Singapore Broker’s Digest

    • 🇹🇭 Thailand – Thai Retail / Banking / Property Research, i-Tail Corporation PCL, Bangkok Expressway and Metro PCL, Thai Beverage PCL, Airports of Thailand PCL, Betagro PCL, Bank of Ayudhya, Star Petroleum Refining PCL, Delta Electronics Thailand PCL, Central Pattana PCL, True Corporation PCL, Gulf Development PCL, Aeon Thana Sinsap Thailand PCL, TMBThanachart Bank PCL, PTT Oil & Retail Business PCL, PTT Global Chemical PCL, Electricity Generating PCL, TISCO Financial Group PCL, PTT Exploration & Production PCL & Plan B Media PCL

    • 🇻🇳 Vietnam – Vietnam Dairy Products JSC

  • South Asia

• Africa

• Eastern Europe & Emerging Europe

• Latin America

Readers can decide whether these DeepSeek insights or summary about these stocks are accurate:

🤖 DeepSeek Summary/Analysis

⚠️ Key Risks to Consider

💎 Summary & Actionable Takeaways

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.

Frontier & Emerging Market Stock Index

Note: For more China & Hong Kong stock picks or ideas, see our monthly China & Hong Kong Stock Picks posts…

Note: For more Korean stock picks or ideas, see our monthly Korean Stock Picks posts…

Note: I have note seen any good Twitter/Substack/blog accounts or (free) equity research providers with good coverage of Taiwanese stocks (at least not in English). Please contact me if you know of any…

Note: Various DBS sites (Insights Direct, DBS Treasures, etc.) have good coverage of SE Asia and some Chinese/Hong Kong stocks, but some sites are restricted by geography (need VPN) or are harder to search for new research pieces…

🔬 DBS Stock Pulse: Three implications as the Super El Niño heats up (DBS Treasures) 29 Jun 2026 ⚠️

🔬 Indonesia Equity Market Reform: Navigating MSCI & FTSE Accessibility Challenges (KB Valbury Sekuritas) 23 June 2026 ⚠️

🔬 DSI: Transparency tool or margin-taking gatekeeper? (KB Valbury Sekuritas) 23 June 2026 ⚠️

🔬 May 2026 Automotive Sales: Normalized (Samuel Sekuritas Indonesia) Jun 18, 2026 ⚠️

🔬 BBNI – In-line 5M26, thanks to solid top line and PPoP growth 30 June 2026 ⚠️

🔬 CNMA – Primed for a Box Office Step-Up 30 June 2026 ⚠️

🔬 IMPC – Scaling Up on Strong Operational Footing 30 June 2026 ⚠️

• 🌏 Impack Pratama Industri Tbk PT (IDX: IMPC) – Plastic building materials (roofing, cladding & ceiling, flooring, pipe & utilities, sealant & adhesive). 🏷️

• Price/Book (Current): 25.48

• Trailing P/E: 113.28 (no forward P/E) / Forward Annual Dividend Yield: N/A (Yahoo! Finance)

🔬 BACH – Flash IPO: Solid Fundamentals Support Sustainable Long – Term Expansion (Kiwoom Sekuritas Indonesia) June 29, 2026 ⚠️

• 🇮🇩 PT Bach Multi Global Tbk (IDX: BACH) – Power system solutions & telecommunication infrastructure. 🏷️

• Price/Book (Current): N/A

• Forward P/E: N/A / Forward Annual Dividend Yield: N/A (Yahoo! Finance)

🔬 VKTR: Non-Rated – Electrifying (Samuel Sekuritas Indonesia) Jun 26, 2026 ⚠️