🌐 Emerging Market Stock Picks (First Half July 2026)
We covered this among other Thailand related research (Thailand to invest US$1.99 billion in next-wave high-tech 🗃️ / Thailand’s stimulus package) on Monday, but Marc Faber’s latest Gloom, Doom & Boom report noted that he is bullish on Thailand (where he mostly resides) and he mentioned several Thai stocks in particular (see 🇹🇭 Thailand (131) section of our Southeast Asia Stock Index for more Thai stock ideas):
🇹🇭 The Greatest Global Investment Mania in modern History (Gloom, Doom & Boom)
My first recommendation, therefore, is to avoid the currently most popular sectors of the equity markets which include technology, social media and semiconductors.
More recently, with the improvement in the bond market, I also observed an improvement in interest rate sensitive stocks around the world including financials, home builders, real estate developers, utilities and REITs. I am still holding a large portfolio of Hong Kong and Singapore property stocks and REITs, and I am accumulating Thai property and related stocks such as Land and Houses PCL (SET: LH / LH-R / FRA: NVAH.F / LHOG.F), Supalai PCL (BKK: SPALI / SPALI-F / FRA: NYVL / OTCMKTS: SUPCF), Home Product Center PCL (BKK: HMPRO / HMPRO-F / OTCMKTS: HPCRF), etc.
As I repeatedly explained over the last year, I have also a large exposure to Thai banks including Bangkok Bank PCL (BKK: BBL / BBL-R / OTCMKTS: BKKLY / BKKPF), SCB X PCL (BKK: SCB / SCB-F / FRA: OU80 / OU8) or Siam Commercial Bank, Kasikornbank PCL (BKK: KBANK / SGX: TKKD / FRA: TFBF / OTCMKTS: KPCPY / KPCPF), Krung Thai Bank PCL (BKK: KTB / FRA: KTB1 / OTCMKTS: KGTFF / KTHAF / KGTFY) or KTB, etc. Even failed states can enter bull markets once foreign fund managers have liquidated their positions. The Thai stock market is up year-to-date 18% in US dollar terms. I continue to believe that a bull market is underway, which could lift stocks by another 50% over the next two years
In one of the latest longer form Marc Faber interviews from late June, he did bring up Thailand around the 38:41 (Where Money Goes If America Falls) minute mark along with other topics/points of view probably not allowed on CNBC/Bloomberg (Faber himself is actually not allowed on mainstream corporate business media for being “racist”):
🎥 Marc Faber: We’re Approaching a Major Market Top & It Ends in Disaster (Wealthion) 48:03 Minutes (June 2026)
Chapters:
00:00 — Marc Faber’s Stark Warning: “We’re Approaching a Major Top”
01:20 — Why This AI Boom Could End Badly: “Most Participants Will Fail”
08:18 — “I Think It Will Be a Complete Disaster”
10:58 — The U.S. Is Heading Toward a Fiscal Crisis
13:07 — Inflation Is Much Worse Than You Think
17:00 — The Real Inflation Driver Nobody Is Talking About
20:28 — America Is Trapped: Why the Fed Can’t Fight Inflation
24:56 — 15 Years of Asset Inflation: Stocks, Crypto & the Everything Bubble
29:58 — Are AI Stocks Dangerously Overvalued?
32:41 — Gold, Silver & Safe Havens: What Faber Owns Right Now
35:10 — Why Interest Rates Are Headed Higher
36:53 — The Consumer Is Breaking: Record Debt & Leverage
38:41 — Where Money Goes If America Falls
40:24 — Why the U.S. Has No Choice But to Print Money
41:42 — The Biggest Risk Investors Face Today
45:05 — The Wealth Illusion: Why Rising Markets Fool Investors
46:43 — The Big Disappointment Coming: Stocks & Housing Could Both Fall
The Thai Baht, baring COVID and political controversies, has traded within a reasonable range to the USD over the past decade – it has always felt like its around the THB30+ level when I have visited (Note: A huge spike in 2008 throws off a longer term chart):
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 & H2 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…]
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🇮🇩 Indonesia – Indonesia Macro Updates, Aspirasi Hidup Indonesia Tbk PT, Unilever Indonesia, Pertamina Geothermal Energy PT Tbk, PT Indosat Ooredoo Hutchison Tbk, Merdeka Copper Gold Tbk PT, Nusantara Sejahtera Raya Tbk PT, Sarana Menara Nusantara Tbk PT, Energi Mega Persada Tbk PT, PT Erajaya Swasembada Tbk, Pantai Indah Kapuk Dua Tbk PT, Bank Rakyat Indonesia Tbk PT, Kalbe Farma Tbk PT & Bayan Resources Tbk PT
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🇸🇬 Singapore – Maybank lowers STI target, Singapore Airlines, Lum Chang Creations, Ever Glory United Holdings Ltd, DBS Group / Oversea-Chinese Banking Corp (OCBC) / United Overseas Bank, Food Empire Holdings Ltd, Centurion Corporation Ltd, Keppel DC REIT, HRNetGroup, Raffles Medical Group, Soilbuild Construction Group Ltd, UOB-Kay Hian Holdings Ltd, China Sunsine Chemical Holdings, Parkway Life Real Estate Investment Trust, Sheng Siong Group, Sembcorp Industries, United Hampshire US REIT, Addvalue Technologies Ltd & SATS Ltd
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🇹🇭 Thailand – Thai retail / bank / real estate updates, Tidlor Holdings PCL, Home Product Center PCL, TISCO Financial Group PCL, Bangkok Dusit Medical Services PCL, Delta Electronics Thailand PCL, Charoen Pokphand Foods PCL, Siam Cement PCL, Aeon Thana Sinsap Thailand PCL, CP ALL PCL, CP Axtra PCL, SCG Packaging PCL, Gunkul Engineering PCL, PTT Exploration & Production PCL, Thai Union Group PCL, Advanced Info Services PCL, Plan B Media PCL, Com7 PCL & Bumrungrad Hospital PCL
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Readers can decide whether these DeepSeek insights or summary about these stocks are accurate (note that some research piece titles are not particularly descriptive):
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…
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…
🔬 Indonesia Macro Update – Barbell Positioning: Balancing Resilience and Growth (KB Valbury Sekuritas) 09 July 2026 ⚠️
🔬 Indonesia Macro Update – The Ripple From Hormuz (KB Valbury Sekuritas) 01 July 2026 ⚠️
🔬 Indonesia Macro Update – INF 01 Jul 2026 – Inflation Picks Up on Fuel Price Hike and Weaker Food Supply (KB Valbury Sekuritas) 01 July 2026 ⚠️
🔬 ACES: BUY (Maintained) TP at IDR 430 – Market Outperformance to Persist (Samuel Sekuritas Indonesia) Jul 15, 2026 ⚠️
🔬 Unilever Indonesia – The latest investment analysis on Unilever Indonesia (DBS Treasures) 15 Jul 2026 ⚠️
🔬 Pertamina Geothermal Energy – The latest investment analysis on Pertamina Geothermal Energy (DBS Treasures) 15 Jul 2026 ⚠️
🔬 ISAT – Improving Monetization, Strengthening Profitability (KB Valbury Sekuritas) 14 July 2026 ⚠️
🔬 MDKA – ASP Tailwinds Spark Earnings Turnaround (KB Valbury Sekuritas) 13 July 2026 ⚠️
