Emerging Market Links + The Week Ahead (April 13, 2026)

ABC News 10 April 15, 2026 0


The Middle East conflict is now entering the stage where we have a blockade of a blockade:

I suspect as much OR until after the trades by Administration officials (or their friends and families) and the profits from them have cleared. But shifting the blame of a “blockade” where Iran was letting ships through for a toll to a full blockade by the US military is not a winning global PR strategy (and it will take years to have enough infrastructure in place to bypass the Hormuz chokepoint)…

Again, I have noted in the past the ongoing boycott in Malaysia-Indonesia of American-Western businesses/products over the Gaza conflict which, for example is (among other challenges) leading to the steadily shrinking footprint of Starbucks in the city center of Kuala Lumpur in favor of local or Chinese coffee/tea/juice/ice cream brands (which are frankly better quality with more innovative products). The average 70 year old FOX-CNN viewers may not be hearing about this or feeling the worst effects of restricting/blocking the flow of goods through the Straits of Hormuz; but those with stock portfolios should already be starting to notice this…

Meanwhile, it looks like the EU/Brussels has gotten the election results they wanted in Hungary (I hope Hungarians learn to love migrants and paying ALOT more for non-Russian gas…). The 🇭🇺 Hungary section of our Emerging & Eastern Europe Stock Index has 16 stocks which might get a short term boost from EU connected fund managers/money flows. However, given Orban was the major roadblock to escalating the EU’s “Project Ukraine” (as The Duran geopolitics podcast refers to it as), I’d be increasingly concerned about investing in or having money anywhere in the EU…

Finally, when I click on the Seeking Alpha country links I have to get articles from them about stocks in specific countries, I now get this error for all the links:

I don’t know if this is a temporary IT problem or they have gotten rid of the country pages just like they culled their international investing newsletter some time ago.

I have no idea why they got rid of that newsletter (it was just links to their international stock articles organized by country – not particularly hard to put together or automate) or would get rid of their country link pages which makes it more tedious to find their international/emerging market stock articles to link to in these posts (SA has decent coverage of US listed Latin American stocks which I don’t see elsewhere in English)…

$ = behind a paywall

$ = Behind a paywall / 🗃️ = Link to an archived article (Note: Seeking Alpha earnings/conference etc. presentations are typically not paywalled) / ⛔ = Article archiving may not be working properly

🇨🇳 Key China pension fund bets on new quality productivity (The Asset) 🗃️

  • NSSF moves away from banking, consumer staples to invest in AI, new energy, high-end manufacturing

  • China’s national pension, the National Social Security Fund ( NSSF ), a bellwether for long-term policy-aligned institutional investment, has reshuffled its A-share portfolio over recent quarters to prioritize high-growth sectors tied to new quality productivity.

  • The shift, documented across two reporting periods, offers clear signals for market participants on state-backed capital’s long-term strategic priorities in one of Asia’s core equity markets. The NSSF is seen among the top 10 shareholders of about 200 A-share listed companies.

🇨🇳 Yuan Bonds Boom as Borrowers Shift Away From U.S. Dollar Funding (Caixin) $

  • Global demand for yuan-denominated financing is rising, with panda and dim sum bond issuance climbing sharply in early 2026 as borrowers look to diversify away from costly U.S. dollar funding.

  • Panda bond issuance — yuan debt sold on the Chinese mainland by overseas institutions — topped 89 billion yuan ($13 billion) in the first quarter, nearly half of last year’s total, according to Caixin calculations based on public data.

🇨🇳 In Depth: As AI Agents Take Off, Tencent Sees Its Edge (Caixin) $

  • As the rapid rise of OpenClaw, an open-source artificial intelligence (AI) agent, pushes China’s tech industry into a new phase of competition, Tencent (HKG: 0700 / LON: 0LEA / FRA: NNND / SGX: HTCD / OTCMKTS: TCEHY) is mounting an all-out effort to catch up.

  • In March, the Hong Kong-listed tech giant rolled out its own enterprise version of OpenClaw, named WorkBuddy, while integrating the fast-growing agent into its messaging platforms QQ and WeCom. For everyday users, it launched QClaw, which can connect OpenClaw to WeChat — a rare step for a company that has historically been cautious about opening its super app, with more than 1 billion monthly active users, to third-party AI services.

🇨🇳 Tencent’s 1.4 Billion Users Give It An AI Edge No Western Platform Can Match (Seeking Alpha) $ 🗃️

🇨🇳 Tencent: Not A Bargain Despite YTD Share Price Weakness (Seeking Alpha) $⛔🗃️

🇨🇳 Alibaba: Burning Profits To Build China’s AI Stack, And It’s Working (Seeking Alpha) $ 🗃️

🇨🇳 Alibaba: Market Is Missing The Agentic Edge Play From Qwen (Seeking Alpha) $ 🗃️

🇨🇳 JD.com: European Expansion Strengthens This Deeply Undervalued Chinese Giant (Seeking Alpha) $ 🗃️

🇨🇳 Baidu: Q4 Results Continue To Re-Affirm Structural Slowdown (Seeking Alpha) $ 🗃️

  • 🇨🇳 Baidu (NASDAQ: BIDU) 🇰🇾 – Internet-related services, products & AI. Chinese search engine, Baidu Maps, etc. 🇼 🏷️

🇨🇳 iQIYI: The Rise of IP Franchises and Theme Parks—A Multi-Revenue Strategy Unfolds! (Smartkarma) $

  • iQIYI (NASDAQ: IQ) reported modest sequential revenue growth in the fourth quarter of fiscal 2025, reaching RMB 6.8 billion, driven by an increase in online advertising and content distribution revenues, though membership services revenue declined slightly due to seasonality.

  • Non-GAAP operating income rose to RMB 143.5 million with an operating margin of 2%.

  • The company held RMB 4.7 billion in cash and equivalents at quarter-end, alongside a USD 636.6 million loan recorded under prepayments and other assets.

🇨🇳 LiDAR firm Seyond charts a tricky path with new sensor models (Bamboo Works)

[Seyond Holdings Ltd (HKG: 2665)]

  • The supplier of automotive sensors has narrowed its annual losses, helped by surging sales of cheaper LiDAR systems, but faces intensifying price pressure

  • The company ramped up output of the Robin range of sensors in 2025, helping to push its gross margin into positive territory

  • Although shipment volumes jumped, falling prices meant revenue fell 3.4%

🇨🇳 In Depth: China Auto Market Hits the Brakes After Subsidy Cuts (Caixin) $

  • China’s auto market hit a snag at the start of 2026 with domestic sales dropping nearly a quarter year-on-year in the first two months, with new-energy vehicle (NEV) shipments, once a key driver of growth, slipping as the government cut back subsidies for electric car buyers.

  • China Association of Automobile Manufacturers (CAAM) data show that domestic vehicle sales fell 23.1% year-on-year to about 2.8 million units in January and February. NEV sales plummeted 27.5% to around 1.1 million units, even as consumer interest in fossil fuel-powered cars continued to weaken.

  • The slowdown has taken a toll on major players. Electric vehicle (EV) giant BYD Company (SHE: 002594 / HKG: 1211 / SGX: HYDD / OTCMKTS: BYDDY / BYDDF) lost its sales crown to state-owned SAIC Motor Corp (SHA: 600104) and dropped out of the country’s top three auto brands in the first two months.

🇨🇳 Ecarx keeps it ‘All in the Geely Family’ with potential new investment (Bamboo Works)

  • The smartcar technology company is considering buying a stake in DreamSmart, owner of an operating system linking smartcars, smart glasses and smartphones

  • Ecarx Holdings (NASDAQ: ECX)’s board has authorized the company to pursue a potential purchase of a minority stake in DreamSmart, whose main asset is the Meizu brand of smartphones

  • Both Ecarx and DreamSmart are controlled by Geely Automobile Holdings (HKG: 0175 / FRA: GRU / OTCMKTS: GELYY / GELYF), one of China’s most successful private carmakers

🇨🇳 Xiaomi: Smartphone Cost Pressures Persist, But Robotics And Agentic AI Could Drive Long-Term Upside (Seeking Alpha) $ 🗃️

  • 🌐 Xiaomi (HKG: 1810 / SGX: HXXD / FRA: 3CP / OTCMKTS: XIACF) 🇰🇾 – Consumer electronics & smart manufacturing company. Smartphones & smart hardware connected by an IoT platform at its core. 🇼 🏷️

🇨🇳 Li Auto: Should We Be Skeptical Amid Broader Sector Recovery? (Seeking Alpha) $ 🗃️

  • 🌐 Li Auto (NASDAQ: LI) 🇰🇾 – Designs, develops, manufactures & sells premium smart electric vehicles. 🇼 🏷️

🇨🇳 Great Wall Motor Company Limited 2025 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

🇨🇳 NIO: Discounted EV Winner – Bottom-Line Reversal In Progress (Seeking Alpha) $ 🗃️

🇨🇳 NIO: Favorable Catalyst Landscape (Seeking Alpha) $ 🗃️

🇨🇳 Geely Model Review Portends Success Of Chinese Cars In U.S. Automotive Market (Seeking Alpha) $ 🗃️

🇨🇳 Fosun International Limited 2025 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

🇨🇳 DPC Dash gobbles up Domino’s global leader board (Bamboo Works)

  • The master franchisee for Domino’s Pizza in China aims to open 350 new stores this year, boosting its footprint by about a quarter

  • DPC Dash (HKG: 1405 / FRA: X12 / OTCMKTS: DPCDF)’s revenue rose 25% last year, as its profit more than doubled on a rapid expansion that included the net addition of 307 new stores during the year

  • The master franchisee for Domino’s Pizza in China reported a slight same-store sales decrease for the year, though its tier one cities remained positive for that metric

🇨🇳 Midea Group (300 HK) – The Secret Sauce : Global Breakthroughs, Tech Innovation & Cost Leadership (Smartkarma) $

  • The Secret Sauce: Midea Group (SHE: 000333 / HKG: 0300 / FRA: 1520 / OTCMKTS: MGCOF) is scaling globally through faster overseas growth, deeper localization, and stronger Original Brand Manufacture (OBM) execution across core markets.

  • Its technology leadership and steady R&D investment are driving premiumization, product upgrades, and expansion into building, industrial, and robotics businesses.

  • Available at compelling valuation of 12.5x P/E (FY26e), we continue to like Midea Group Co Ltd A (000333 CH) for its disciplined execution in both legacy and emerging business lines.

🇨🇳 Chinese private banks face mounting regulatory pressure (The Asset) 🗃️

  • New rules standardize disclosures, restrict lending partnerships, drag down profitability, necessitate restructuring

  • Chinese private sector banks are facing significant operational hurdles as tightening regulatory requirements and stricter compliance mandates drag down profitability, necessitating strategic restructuring.

  • Currently, there are 19 private sector banks in China. These are commercial institutions majority-owned and controlled by private capital – typically large private conglomerates. Most operate on an internet-based or digital-only model with minimal physical branch footprints.

  • Among the most prominent is WeBank, China’s first digital bank established in 2014, in which Tencent (HKG: 0700 / LON: 0LEA / FRA: NNND / SGX: HTCD / OTCMKTS: TCEHY) holds a leading 30% stake. Similarly, MYbank – backed by Ant Group, Wanxiang Group and other private enterprises – was an early mover in the space.

🇨🇳 China Merchants Bank Co., Ltd. 2025 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

🇨🇳 Yiren, Qfin swept up in latest fintech lending crackdown (Bamboo Works)

  • China’s latest move against predatory lenders is crippling legitimate loan facilitators like Yiren Digital (NYSE: YRD) and Qifu Technology (NASDAQ: QFIN) by imposing a strict interest rate cap

  • Yiren Digital plunged into the red in the fourth quarter of 2025, while Qfin’s profit tumbled, as regulators enforced a 24% ceiling on borrowing costs levied by private lenders

  • All lending platforms must fully disclose every facilitation fee by Aug. 1 — stripping away gray zone fees that once boosted their profits

🇨🇳 Analysis: The Equity Bet Behind China’s Insurance Profit Surge (Caixin) $

  • Chinese listed insurance companies’ move to put more money into stocks in 2025 paid off with strong profits, but that bold bet is beginning to look like more of a gamble as the market turns volatile.

  • Eight major listed insurers — including Ping An Insurance (SHA: 601318 / HKG: 2318 / SGX: HPAD / OTCMKTS: PNGAY), China Life Insurance (SHA: 601628 / HKG: 2628 / OTCMKTS: CILJF) and New China Life Insurance Company (SHA: 601336 / HKG: 1336 / FRA: NCL / OTCMKTS: NWWCF) — reported their combined net profits jumped 26.6% to 457.5 billion yuan ($64 billion) last year, driven by investment returns supercharged by a stock market rally.

🇨🇳 Middle East Conflict Unlikely to Ease China Solar Glut, Analysts Say (Caixin) $

  • The ongoing conflict in the Middle East and the resulting volatility in energy prices are reviving debate over whether energy-security fears could give renewable power a fresh lift, though analysts say any near-term demand boost is unlikely to resolve the severe overcapacity in China’s solar industry.

  • “From the long-term energy transition perspective, geopolitical conflicts do reinforce the importance of renewable energy, but it is difficult to improve the overcapacity in China’s solar industry in the short term,” a solar industry insider told Caixin.

🇨🇳 Chinese Chemical Stocks Surge After Missile Attack on Saudi Petrochemical Hub (Caixin) $

🇨🇳 PetroChina: Positive On FY2025 Beat And Potential Catalysts (Seeking Alpha) $ 🗃️

🇨🇳 Mega licensing deal lifts 3SBio profits but core sales slip (Bamboo Works)

  • The Chinese drugmaker delivered sharply higher earnings, thanks to a bumper deal with Pfizer to develop a new cancer drug, but its older products came under pressure

  • 3SBio Inc (HKG: 1530 / FRA: 83B / OTCMKTS: TRSBF)’s revenues jumped 94% to $2.58 billion in 2025, boosted by more than $1 billion in early payments from Pfizer

  • However, income from core sales and services slipped 9.3%, leaving investors torn between bullish and bearish reactions

🇨🇳 Gpixel Changchun IPO: Investors Can Sense a Reasonable Bet Here Given The Strengths and Positioning (Smartkarma) $

  • Gpixel Changchun launched Hongkong IPO aiming to raise up to HK$ 2.6B. They provide CMOS image sensors (CIS) in industrial imaging, scientific imaging, photography and video, and medical imaging.

  • Gpixel Changchun intends to use the IPO proceeds for enhancing R&D capabilities, product innovation, expanding production facilities and overseas business development.

  • Relatively, the valuation seems reasonable given the fact that company enjoys a market leader position in China and third position globally in the industrial and scientific imaging segment.

🇲🇴 Oil price may hit China demand for Macau gambling, but a tailwind is stronger renminbi: CLSA (GGRAsia)

  • “Room for surprises” in terms of upside for Macau gross gaming revenue (GGR) “has diminished”, suggests brokerage CLSA Ltd.

  • Brake factors included that “the recent spike in oil price” on international markets “will likely weigh on industrial profitability in China”.

  • Nonetheless there could also be “GGR tailwinds from a stronger renminbi against the U.S. dollar,” wrote analyst Jeffrey Kiang, referring to China’s own currency.

  • Most Macau casino bets are denominated in the Hong Kong dollar, which is pegged against the U.S. currency. Most gamblers in Macau are from the Chinese mainland, with assets typically denominated in renminbi, meaning their spending power for gambling could be boosted by a weakening U.S. dollar.

🇲🇴 Sports events offer significant upside for Macau tourism, gaming resorts: Galaxy Ent exec (GGRAsia)

  • Sports events, if well-presented and marketed, can bring “significant upside” in broadening Macau’s appeal as a tourism destination, and in boosting the appeal and profile of the hosting resorts. So says Jeffrey Jiang (pictured), executive vice president for entertainment services at casino operator Galaxy Entertainment (HKG: 0027 / OTCMKTS: GXYEF), in an interview with GGRAsia.

  • The company brought the Ultimate Fighting Championship (UFC) mixed martial arts (MMA) franchise back to Macau in November 2024 after a 10-year absence from the city. In September last year, the company said that between this year and 2029 it would host three UFC Fight Night events at Galaxy Arena in its Galaxy Macau casino resort on Cotai. The first of those is on May 30, the firm announced recently.

🇹🇼 Minth: A Small Cap Quietly Pivoting To AI And Robots (Seeking Alpha) $ 🗃️

  • 🌐 Minth Group (HKG: 0425 / FRA: M3I0 / M3I / OTCMKTS: MNTHY / MNTHF) 🇰🇾 – Manufacturing of exterior & structural automotive parts. Supplier of battery enclosures & body structure components. Taipei HQ. 🏷️

🇹🇼 TSMC: The AI Silicon Shortage Is About To Get Worse (Seeking Alpha) $ 🗃️

🇹🇼 TSMC’s AI Grip Tightens Further (Seeking Alpha) $ 🗃️

🇹🇼 Taiwan Semiconductor Is Setting Up For Another Beat (Preview) (Seeking Alpha) $ 🗃️

🇹🇼 TSMC: Bulletproof Your Portfolio Even Though Peace Should Prevail (Seeking Alpha) $ 🗃️

🇹🇼 MPI Corp (6223 TT): Stock Going Parabolic as Global Index Inclusion Looms (Smartkarma) $

  • MPI Corporation (TPEX: 6223)‘s stock price has soared over the last few months, and the stock should be added to a global index in May.

  • The stock price rally has led to Mpi Corp (6223 TT) trading at a valuation premium to its peers, but there are some peers that trade at steeper valuations.

  • Given the strong momentum and the recent risk-on environment, there could be increased positioning over the next week or two and that could take the stock higher from here.

🇹🇼 Compeq Manufacturing (2313 TT): Strong Momentum, Positioning & Global Index Inclusion (Smartkarma) $

  • Compeq Manufacturing (TPE: 2313) is up 207% this year and the higher market cap and free float market cap should result in global index inclusion in May.

  • Despite the big runup, Compeq Manufacturing (2313 TT) trades in line with the mean and median of its peers on most valuation metrics.

  • While there has been big positioning recently, strong momentum, average valuations and a risk-on environment could take the stock higher from here in the short-term.

🇰🇷 54 Companies in Korea on the Verge of Delisting (Douglas Research Insights) $

🇰🇷 FnGuide: NAV of ETFs Based on FnGuide Indices Exceeds 55 Trillion Won & Path to KOSDAQ150 Inclusion (Douglas Research Insights) $

  • FnGuide Inc (KOSDAQ: 064850) announced that the total net asset value (NAV) of ETFs tracking FnGuide’s indices have surpassed 55 trillion won. up more than 25 trillion won YTD.

  • FnGuide maintained its position as the second-largest index provider in Korea in terms of net assets, following the Korea Exchange. It is the leader among private index providers.

  • Index business as a percentage of total sales increased from 22.4% in 2023 to 30.4% in 2025. Index business enjoyed the fastest growth at 39.9% YoY in 2025.

🇰🇷 Lunit: A Short-Term Share Price Rebound Post Pricing of Rights Offering? (Douglas Research Insights) $

  • On 7 April, Lunit Inc (KOSDAQ: 328130) priced its rights offering at 26,750 won, which was 15.5% lower than the initial expected rights offering price of 31,650 won announced on 30 January 2026.

  • The total amount of the capital raise is 211.5 billion won, which is lower than the initial 250 billion won that the company was aiming for.

  • I believe Lunit’s share price could rebound slightly after the rights offering price has been announced in the next few weeks.

🇰🇷 Mirae Asset Securities – To Sell $1 Billion of SpaceX IPO Shares [Buy the Rumor, Sell the News] (Douglas Research Insights) $

  • Mirae Asset Securities (KRX: 006800 / 520003 / 00680K) is the largest Korean investor in SpaceX which is getting ready to complete its IPO this summer at a valuation of about US$1.75 trillion to US$2.0 trillion

  • Mirae Asset Securities has secured the right to sell nearly US$1 billion of the SpaceX IPO offering to local investors in Korea.

  • I think many investors are gearing up to sell their shares in Mirae Asset Securities leading up to the SpaceX IPO as well as soon afterwards.

🇰🇷 Satrec Initiative: Additional Selling Likely Post SpaceX IPO and Inclusion of KOSDAQ150 (Douglas Research Insights) $

  • In this insight, I provide an update of Satrec Initiative Co Ltd (KOSDAQ: 099320) which was the 5th company in my Korea Small Cap Gem series.

  • Satrec’s improving financials along with the global theme of space exploration/satellite/SpaceX IPO as well as potential inclusion in KOSDAQ150 could drive Satrec Initiative’s share price higher in the short term.

  • However, the valuations of the company have reached very high levels. Therefore, over a longer period (12 months), it appears that the company is fairly valued.

🇰🇷 Samsung Electronics: Better Than Expected Preliminary Results in 1Q 2026 (Douglas Research Insights) $

  • Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) reported better than expected results in 1Q 2026.

  • Samsung reported sales of 133 trillion won (up 68.1% YoY and 11.8% higher than consensus) and operating profit of 57.2 trillion won (up 755% YoY and 42.3% higher than consensus).

  • Post better than expected sales and operating profits in 1Q 2026, the consensus is likely to raise their earnings estimates.

🇰🇷 Block Deal Sale of 3.1 Trillion Won of Samsung Electronics by Hong Ra-Hee (Douglas Research Insights) $

  • It was announced that Hong Ra-Hee has decided to sell 15 million shares (0.25%) of Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) in a block deal sale worth about 3.1 trillion won.

  • The expected block deal sale price range is 204,395 to 208,605 won, representing a 0.9% to 2.9% discount from the closing price of 210,500 won on 8 April 2026.

  • I have a positive view on Samsung Electronics and on this block deal sale. The timing is especially impeccable given the start of the two week ceasefire in Iran war.

🇰🇷 Korea Small Cap Gem #60: Kona I Co (Douglas Research Insights) $

  • Kona I Co Ltd (KOSDAQ: 052400) is a Korean fintech platform and digital payment infrastructure provider that has been experiencing excellent growth in sales and profits.

  • It generated sales of 309.2 billion won (up 30.8% YoY) and operating profit of 88.9 billion won (up 166% YoY) in 2025. Valuations are attractive.

  • I would argue that positives of the company’s core business should have a bigger impact on the company than some lingering concerns about its investment in the Hanok Heritage hotel.

🇰🇭 NagaWorld 1Q GGR up 2.1pct y-o-y led by mass play, but VIP segments down (GGRAsia)

  • Gross gaming revenue (GGR) at the NagaWorld casino complex (pictured) in the Cambodian capital, Phnom Penh, rose 2.1 percent year-on-year in the first quarter, to nearly US$174.7 million.

  • That is according to some unaudited highlights of first-quarter gaming operations, issued on Wednesday.

  • NagaCorp (HKG: 3918 / FRA: N9J / OTCMKTS: NGCRF), as a Hong Kong-listed firm, reports statutory results on a six-month basis. The company did not provide commentary on the latest highlights.

  • It said first-quarter net gaming revenue rose 7.9 percent from the prior-year period, to nearly US$160.0 million.

🇰🇭 Moody’s upgrades NagaCorp’s rating on expected higher earnings, cash flow (GGRAsia)

  • Moody’s Ratings has upgraded the corporate family rating of Hong Kong-listed Cambodian casino operator NagaCorp (HKG: 3918 / FRA: N9J / OTCMKTS: NGCRF) to ‘B2’ from ‘B3’, with the outlook remaining ‘stable’.

  • “The upgrade reflects continued improvement in NagaCorp’s earnings and cash flow, supported by resilient performance at its mass market and premium segments,” wrote Anthony Prayugo, a Moody’s Ratings analyst, in a Thursday report.

  • In March, NagaCorp reported full-year 2025 net profit of US$309.9 million, up more than 180 percent from 2024. The firm’s earnings before interest, taxation, depreciation, and amortisation (EBITDA) stood at US$404.4 million last year, up from US$202.8 million in 2024.

🇮🇩 PT Sarana Menara Nusantara Tbk. 2025 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

🇮🇩 Indonesia: Updated Disclosures Could Lead to Multiple Deletions & Float Decreases in May (Smartkarma) $

  • Minimum free float has been set at 15% with a timeline for companies to get there. A list of stocks with High Shareholding Concentration has also been released.

  • There could be 6 deletions from a global index in May with few other stocks having free float reductions. Estimated passive selling in Indonesia is US$1.3bn.

  • The changes to the free float thresholds and the improved disclosure brings Indonesia in line with other markets in Asia and should allay global index providers concerns.

🇸🇬 Sea: Strong Fundamentals, Weak Sentiment – A Buy On Reinvestment Phase (Seeking Alpha) $ 🗃️

  • 🌏 Sea Limited (NYSE: SE) – 3 core businesses: Garena (global online games developer & publisher), Shopee (largest pan-regional e-commerce platform in SE Asia & Taiwan), SeaMoney (leading digital payments & financial services provider in SE Asia). 🇼 🏷️

🇸🇬 Singapore equity market overhaul aims to build self-sustaining powerhouse (The Asset) 🗃️

  • City-state offers unique mix of strong government, favourable fundamentals, policy actions

  • Singapore’s push to revitalize its equity capital markets is beginning to show early, measurable traction. Nearly nine months after the significant expansion of the Equity Market Development Programme ( EQDP ), policymakers, fund managers and market operators are aligning around a shared view that this is not a short-term stimulus, but a structural reset aimed at building a deeper, more resilient capital market ecosystem.

  • From a market infrastructure perspective, Malcolm Koo, CGSI Singapore’s CEO, sees clear evidence that the EQDP is already changing behaviour. “For most brokers, 2025 was a good year for the Singapore equities market,” Koo points out. “The STI [Straits Times Index] was up about 23%, the best performance in more than a decade.”

  • More importantly, liquidity has broadened across the market. Average daily turnover rose by more than 15% year on year, while small- and mid-cap activity improved significantly.

  • “There are now more than 100 companies trading above S$1 million in daily turnover, that’s up 40% from August 2024,” Koo notes. “It’s across the board – big, mid and small caps. Those are very encouraging signs.”

🇸🇬 Keppel Ltd – “Blurry” Vision 2030: Dividends Are Just Illusory (Corporate Monitor)

🇸🇬 Update: SUTL Enterprise (SUTL SP) (Asian Century Stocks)

  • Singapore marina operator at 7.1x 2028e P/E

  • In late 2023, I published a deep-dive on Singapore marina operator SUTL Enterprise Limited (SGX: BHU) – US$63 million). You can find the link to it here:

  • The company is the marina subsidiary of the unlisted conglomerate SUTL Group, which is known locally as a consumer goods distributor and retailer. Here’s what the corporate structure looks like.

🇸🇬 Genting Singapore says well positioned for next casino-licence assessment cycle (GGRAsia)

  • Management at Genting Singapore (SGX: G13 / FRA: 36T / OTCMKTS: GIGNF / GIGNY), which runs the Resorts World Sentosa casino complex in Singapore, believes the group is “well positioned” for the next assessment by the local authorities regarding its casino licence.

  • In November 2024, the Singapore government renewed the casino licence of Resorts World at Sentosa Pte Ltd, the operating entity of the casino resort, for two years – a period shorter than permitted under regulations.

  • That was due to an assessment the property had an “unsatisfactory” tourism performance between 2021 and 2023.

🇸🇬 Top Stock Market Highlights of the Week: Wipro and Olam Group, Frasers Property and Singapore’s Record Property Investment Sales (The Smart Investor)

  • We look at a landmark AI-powered IT deal involving a Singapore agri-business giant, a keenly contested Kallang waterfront land tender, and record-breaking property investment data for the first quarter of 2026.

    • Wipro Clinches US$1 Billion Olam Deal and Acquires IT Arm Mindsprint

      • Wipro Ltd (NYSE: WIT) has secured one of the largest strategic engagements in its history, signing an eight-year transformation deal with Singapore-headquartered Olam Group Ltd (SGX: VC2 / FRA: K25 / OTCMKTS: OLGPF) that is expected to exceed US$1 billion in total contract value, with a committed spend of US$800 million.

    • Frasers Property-Mitsubishi Estate JV Wins Kallang Waterfront Land Tender

      • A joint venture between Frasers Property Ltd (SGX: TQ5 / FRA: 1IQ) and Japan’s Mitsubishi Estate has submitted the top bid of S$610.75 million for a 99-year leasehold residential site at Kallang Close under Singapore’s Government Land Sales (GLS) programme, edging out four competing bids.

    • Singapore Property Investment Sales Hit Record S$15.4 Billion in First Quarter

🇸🇬 Top 3 SGX Blue-Chip Stocks with Aggressive Buybacks in Q1 2026 (The Smart Investor)

  • Three SGX blue chips spent S$333 million buying back their own shares in 1Q 2026 — but can they keep paying rising dividends?

  • But while the buyback headlines may look similar, the sustainability of each company’s capital return story is quite different.

    • Oversea-Chinese Banking Corp (OCBC) (SGX: O39 / FRA: OCBA / FRA: OCBB / OTCMKTS: OVCHY): Dividends backed by a diversifying income engine

      • OCBC’s S$116 million in 1Q2026 buybacks is part of a well-defined S$2.5 billion capital return programme announced in February 2025, to be delivered through a combination of special dividends and share buybacks by the end of FY2026.

      • What underpins this generosity? Record total income of S$14.6 billion for FY2025.

    • Keppel Ltd (SGX: BN4 / FRA: KEP / KEP1 /OTCMKTS: KPELY / KPELF): A tale of two dividend engines

    • Singapore Telecommunications Ltd (SGX: Z74 / FRA: SIT / SIT4 / OTCMKTS: SGAPY / SNGNF) or Singtel: Buybacks funded by asset recycling

      • Singtel led the buyback tally with S$123 million in 1Q2026.

      • The bulk – 21.2 million shares in March alone – was conducted under a new S$2 billion value realisation share buyback programme, funded by excess capital from asset recycling.

    • Get Smart: Buybacks and dividends are two sides of the same capital return coin

🇸🇬 This Defensive Stock Is Paying 20% More Dividends in May (The Smart Investor)

  • Raffles Medical Group’s 20% dividend increase highlights how strong cash flow and balance sheet strength can drive payouts beyond revenue growth.

  • For Raffles Medical Group (SGX: BSL / FRA: 02M1 / OTCMKTS: RAFLF), or RMG, the answer lies in a combination of rising profits, surging free cash flow, and a rock-solid balance sheet.

  • As investors, we want to know if a dividend hike is a one-off treat or a sustainable reward.

  • RMG’s latest results for the full year 2025 (FY2025) provide some very reassuring answers.

    • Efficiency over top-line expansion

    • Cash flow: The lifeblood of dividends

    • Resilience across core divisions

    • Building for the future in China

    • A fortress balance sheet for peace of mind

    • Get Smart: A dividend hike backed by cash, not just confidence

🇸🇬 Looking for Income? 4 Singapore Stocks That Pay You While You Sleep (The Smart Investor)

  • Passive income sounds simple, but sustainable dividends require strong businesses underneath. These four Singapore stocks stand out for generating income while you stay invested for the long term.

    • Singapore Exchange Limited (SGX: S68 / FRA: SOU / SOUU / OTCMKTS: SPXCF / SPXCY), or SGX — The Dividend Anchor

      • SGX has long been a dividend income mainstay, supported by its position as Singapore’s sole approved and regulated stock exchange.

      • The company has been turning in solid results – profits have climbed each year from FY2021 through FY2025.

    • Frasers Centrepoint Trust (SGX: J69U / OTCMKTS: FRZCF), or FCT — The REIT Income Workhorse

      • Retail REITs like FCT usually give investors steady, predictable income because they lock in long-term leases.

      • For the first quarter of the fiscal year ending 30 September 2026 (1Q2026), portfolio occupancy remains high at 98.1%, increasing to 99.9% on a committed basis after leases are secured.

    • United Overseas Bank (SGX: U11 / FRA: UOB / UOB0 / OTCMKTS: UOVEY / UOVEF), or UOB — The Dividend Growth Story

      • UOB continues to deliver consistent dividend growth, helping investors stay ahead of inflation.

      • The bank generates steady earnings regardless of the economic cycle — thanks to its diverse revenue streams and high asset quality.

    • Venture Corporation (SGX: V03 / FRA: VEM / OTCMKTS: VEMLF) — The Cash Flow Resilient Blue Chip

      • Venture has maintained consistent dividend payments through various market cycles, supported by robust cash generation and a healthy net cash position.

      • Historically, the group has rewarded shareholders through regular interim and final payouts, occasionally supplemented by special dividends.

    • Get Smart: Passive Income Starts With Active Thinking

🇸🇬 The Top 5 S-REITs Singapore Retail Investors Are Buying in 1Q 2026 (The Smart Investor)

🇸🇬 Beyond STI: 3 Singapore Dividend Stocks Seeing Insider Buying in Q1 2026 (The Smart Investor)

🇸🇬 How to Build a CPF-Beating Dividend Portfolio in 2026 (The Smart Investor)

  • CPF offers stability, but dividend stocks may give you better yields in the long run. Learn how you can build a Singapore dividend stock portfolio that will outperform CPF in 2026.

    • CPF Is Safe – But Is It Enough?

    • Step 1: Understand What You’re Trying to Beat

    • Step 2: Focus on Sustainable Yield, Not Just High Yield

    • Step 3: Build Across Different Dividend Categories

    • Step 4: A Simple 5-Stock CPF-Beating Portfolio Framework

    • Step 5: Reinvest or Withdraw? Decide Your Income Strategy

    • Step 6: Watch Out for These Common Mistakes

    • Get Smart: CPF Is a Benchmark, Not the Only Path

🇸🇬 3 Singapore Hospitality REITs Delivering Higher DPUs in 2026 (The Smart Investor)

  • These three hospitality REITs are growing their DPU as strong travel demand, higher room rates, and resilient occupancy continue to support income growth.

  • We dive into three hospitality heavyweights that have successfully raised their payouts, proving that the travel splurge is far from over.

    • CapitaLand Ascott Trust (SGX: HMN / OTCMKTS: ATTRF)

      • CapitaLand Ascott Trust (CLAS) stands as the largest lodging trust in Asia Pacific, commanding a massive S$8.9 billion portfolio that spans 103 properties across 16 countries.

      • The trust offers a unique mix of serviced residences, hotels, rental housing, and student accommodation.

    • CDL Hospitality Trusts (SGX: J85 / OTCMKTS: CDHSF)

      • Managing a S$3.5 billion portfolio of 22 properties including luxury hotels and build-to-rent apartments, CDL Hospitality Trusts (CDLHT) reported mixed results for the full-year 2025 (FY2025) due to renovation disruptions

      • Management has also focused on premiumization, rebranding its Maldives asset to join the Marriott Autograph Collection to leverage a global distribution network.

      • With major refurbishment works now complete at W Hotel and Grand Millennium Auckland, CDLHT is poised to capture higher room rates as these refreshed assets return to full inventory.

    • Centurion Accommodation REIT (SGX: 8C8U)

      • Centurion Accommodation REIT (CAREIT) has made a significant splash since its listing in September 2025, specializing in the resilient niche of purpose-built worker and student accommodation.

    • Get Smart: A Golden Age for Lodging

🇸🇬 Beyond Blue Chips: 3 Cash-Rich Singapore Dividend Stocks Paying More Than the STI (The Smart Investor)

  • Move beyond the STI. These three cash-rich Singapore stocks offer heartier dividend yields and rock-solid balance sheets for investors.

  • They lack the flashy name, but their fortress balance sheets and superior cash flow allow them to serve up much heartier dividends than the big-name heavyweights.

    • Valuetronics Holdings (SGX: BN2 / FRA: GJ7)

      • When a company’s revenue falls, investors naturally worry about the dividend.

      • But Valuetronics shows why it pays to dig deeper.

    • Delfi Limited (SGX: P34 / OTCMKTS: PEFDF)

      • Delfi’s headline numbers look unremarkable.

      • Management appears to be conserving cash amid a weaker Indonesian Rupiah and uncertain macroeconomic conditions in its core market.

    • QAF Ltd (SGX: Q01)

      • At first glance, QAF’s latest results look alarming.

      • For the first half of 2025 (1H2025), profit attributable to owners plunged 69% YoY to S$3.9 million, while revenue edged down 1% to S$306.1 million.

      • But strip away the non-operational noise, and the picture changes.

    • Get Smart: Follow the cash, not just the profits

🇸🇬 The Singtel CPF Transfer: Should Investors Cash Out or Keep the Dividend Engine Running? (The Smart Investor)

  • With Singtel’s move from CPF to CDP, we look at the “Singtel28” strategy and future dividend sustainability.

  • The recent announcement that Singapore Telecommunications Ltd (SGX: Z74 / FRA: SIT / SIT4 / OTCMKTS: SGAPY / SNGNF) or Singtel Special Discounted Shares (SDS) will be transferred from the CPF Board to individual Central Depository (CDP) accounts marks the conclusion of a 30-year legacy.

  • For long-term investors, this is more than an administrative update – it is a strategic crossroads: Is it time to liquidate the position, or does the dividend engine remain a vital component of a wealth-building machine?

    • The “6x Return” Case Study: The Reward for Patience

    • The Case for Liquidity: Why Investors Might Sell

    • The Case for Retention: Why the Engine Still Purrs

    • The Investor’s Decision Checklist

    • Get Smart: The power of choice meets the discipline of holding.

🇸🇬 3 Attractive Singapore Stocks That Pay Quarterly Dividends (The Smart Investor)

  • These three Singapore stocks stand out for paying investors every quarter, with business fundamentals worth watching too.

    • Mapletree Industrial Trust (SGX: ME8U / OTCMKTS: MAPIF), or MIT — The REIT Income Anchor

      • This industrial REIT powerhouse stands out with its portfolio of properties in the following segments: data centres (58.3%), hi-tech buildings and business space (18.1%), and general industrial buildings (23.6%).

      • With over 136 properties spread across North America, Singapore, and Japan, the REIT enjoys stable rental income from a wide range of reputable clients across different industries.

    • Riverstone Holdings (SGX: AP4) — The Defensive Dividend Compounder

      • Riverstone provides high-quality gloves and related consumables/equipment for healthcare, food, and cleanroom purposes.

      • Given the resilient nature of this business (the need for hygiene persists even in an economic downturn), the group has produced consistent positive annual free cash flow over the last 10 years.

    • DBS Group (SGX: D05 / FRA: DEVL / DEV / OTCMKTS: DBSDY / DBSDF), or DBS — The Growth Plus Income Play

      • Finally, the last name on this list is probably everyone’s favourite dividend payer: DBS.

      • This bank stands out for its strong quarterly dividends and the potential for decent capital appreciation.

    • Get Smart: A Good Dividend Is Better Than a Frequent One

🇸🇬 Winners of the Past Two Years: Which Singapore Stocks Can Keep Going (The Smart Investor)

  • Some Singapore stocks have delivered standout gains over the past two years. But can the winners keep running, or has the easy money already been made?

    • Why Some Stocks Keep Winning

    • What to Look for in a Stock that Can “Keep Going”

    • Singapore Technologies Engineering Ltd (SGX: S63 / FRA: SJX / OTCMKTS: SGGKF) or ST Engineering – The Earnings Momentum

      • ST Engineering, or STE, has been one of the quiet winners in the Singapore market, steadily climbing on the back of consistent earnings delivery.

      • The group has benefited from the perfect mix of a global rebound in air travel and rising geopolitical tensions, which led to a surge in defence spending.

    • Singapore Exchange Limited (SGX: S68 / FRA: SOU / SOUU / OTCMKTS: SPXCF / SPXCY) – The Dividend Re-Rating Story

      • Because SGX benefits directly from market activity, the recent market volatility has led to higher trading volumes.

      • This, in turn, supports revenue growth.

    • Keppel Ltd (SGX: BN4 / FRA: KEP / KEP1 /OTCMKTS: KPELY / KPELF) – The Structural Growth Winner

      • Keppel has pulled off one of the most successful corporate reinventions in Singapore’s history.

      • Its FY2025 results have proved that its “New Keppel” structure has been a massive success.

    • Seatrium Ltd (SGX: SE2 / FRA: S8N / OTCMKTS: SMBMF) – Recovery Surprise

      • Since the merger of Sembcorp Marine and Keppel Offshore & Marine, Seatrium has struggled.

      • But recently, as the offshore vessel environment improved, the company has finally turned the corner to profitability.

      • Business has been booming for the shipbuilder.

    • What Could Stop the Rally

    • Get Smart: The Best Winners Usually Keep Earning Their Place

🇸🇬 SATS and SIA: How US$100 Oil is Threatening the 2026 Aviation Recovery (The Smart Investor)

  • With oil prices above US$100, both SATS and Singapore Airlines face increasing costs. How will these aviation giants manage the pressure as the 2026 recovery unfolds?

  • We examine what these headwinds could mean for their businesses – and for investors’ portfolios.

    • Singapore Airlines (SGX: C6L / FRA: SIA1 / OTCMKTS: SINGY / SINGF), or SIA: The Fuel Squeeze

      • As the national carrier with a passenger load factor of 87.5% and fuel expenses making up roughly 29% of its total expenditure, SIA is naturally not spared from the margin squeeze of rising fuel expenses.

    • How SATS Ltd (SGX: S58 / FRA: W1J / OTCMKTS: SPASF) and SIA Are Caught in the Ripple Effect

      • In its third quarter ended 31 December 2025 (3QFY2026), SATS derived 34% of its revenue from the Singapore region, anchored by SIA as its largest customer.

      • With SIA preparing for further downside by introducing fare hikes, potentially dampening demand for air travel, reduced demand for air travel could impact close to one-third of its revenue.

    • What to Watch for in 2026: Key Indicators

    • Should Investors Fasten Their Seatbelts?

    • Get Smart: Stay Vigilant but Don’t Panic

🇸🇬 4 Solid Singapore Blue-Chip Stocks Suitable for Retirees (The Smart Investor)

🇸🇬 The 3 Worst-Performing STI REITs in Q1 2026: Is It Time To Buy? (The Smart Investor)

🇸🇬 The Safest Dividend Payers on the SGX: What the Data Shows (The Smart Investor)

🇻🇳 VinFast: Recent Rally Fuels Some Skepticism (Seeking Alpha) $ 🗃️

🇮🇳 HDFC Bank: Q4 Outperformance Is Overshadowed By Policy Headwinds (Seeking Alpha) $ 🗃️

🇮🇳 India’s Chemical and Fertilizer Winners from the Middle East Ceasefire (Smartkarma) $

  • A two-week US-Iran-Israel ceasefire took effect on April 8, reopening the Strait of Hormuz after 39 days of conflict that destroyed 85% of Iran’s petrochemical output.

  • With Iranian methanol, ammonia, and urea capacity offline for 6 to 9 months minimum, Indian producers across 7 chemical sub-sectors inherit a structural margin window in Q1 FY27.

  • The ceasefire removes the supply-chain shock but not the production gap: infrastructure damage at Mahshahr and Asaluyeh will take years to rebuild, making India’s import substitution plays more durable.

🇮🇳 True Cost of Running an AI Data Centre: A Unit Economics Breakdown (Smartkarma) $

  • Annual OPEX of an AI data centre consumes 25–35% of its initial CAPEX, with GPU depreciation and electricity together accounting for the vast majority of recurring costs.

  • India’s data centre capacity is projected to triple by 2031; understanding the true cost structure is essential for investors evaluating return on capital for players like Adani, Sify, Nxtra etc.

  • The GPU replacement cycle, not electricity, is the dominant economic risk for AI-focused facilities, and the financing structure chosen (own vs. lease) may determine which operators survive each hardware generation.

🇮🇳 Gas Insecurity: India Imports 36 BCM of LNG Annually, Stores Almost None of It! (Smartkarma) $

  • Escalating West Asia tensions and near-closure of the Strait of Hormuz have exposed India’s ~10-day LNG buffer, triggering a draft PNGRB policy mandating a 10% buffer at terminals.

  • India imports 36 BCM of LNG annually, the 4th-largest globally, with fertiliser, CGD, and industrial sectors structurally dependent on it, yet holds zero strategic gas reserve.

  • A multi-year capex cycle for above-ground LNG tanks, FSRU-based buffers, and pipeline densification will disproportionately benefit Petronet LNG Ltd (NSE: PETRONET / BOM: 532522), HPCL [Hindustan Petroleum Corp Ltd (NSE: HINDPETRO / BOM: 500104)], GAIL (NSE: GAIL / BOM: 532155), Swan Energy, and Gujarat State Petronet Ltd (NSE: GSPL / BOM: 532702).

🇮🇳 Indian Organised Jewellery Sector: Analysing the Q4FY26 Business Updates and What Lies Next? (Smartkarma) $

🇮🇳 NIFTY INDEX Tactical Outlook: Counter-Trend Rally Underway — Targets and Risk Scenarios (Smartkarma) $

  • The NIFTY Index this week performed a sharp reversal from the April 3rd trough (22182.6) to the close on Wed April 8th (23997.3).

  • Barring new geopolitical shocks, according to our model the rally could continue for 2-3 weeks and reach well past 25k, possibly 26k.

  • Our model identified two possible uptrend pathsthat the index may followIF the rally continues (a BIG ‘IF’, given the current significant geopolitical uncertainty).

🇮🇳 TCS FY26: The Year the Dollar Revenue Growth Streak Broke (Smartkarma) $

  • Tata Consultancy Services (NSE: TCS / BOM: 532540) posted FY26 dollar revenue of $30,017 million, a 0.5% annual decline, marking the first-ever full-year contraction in US dollar terms in the company’s publicly listed history.

  • It reflects demand compression across BFSI, life sciences, and North America, compounded by AI-driven pricing pressure and macro uncertainty that show no near-term resolution.

  • The growing gap between TCV and realized revenue raises questions about conversion velocity, deal pricing, and whether AI-linked productivity models are structurally compressing revenue per contract.

🇮🇳 Bharat Forge: A Proxy to the CV Cycle, Built for the Long Game (Smartkarma) $

  • Bharat Forge Ltd (NSE: BHARATFORG / BOM: 500493)’s North American Class 8 truck orders surged 159% YoY in Feb-26, signalling a clear CV cycle inflection.

  • With ATAGS execution commencing in H2 FY27 and domestic CV demand buoyed by GST reform tailwinds, BharatForge enters a rare multi-engine growth phase spanning auto exports, defence, and aerospace simultaneously.

  • FY27 earnings inflection story, backed by a visible INR 11,130 crore order book and a recovering global CV cycle, keeps the long-term thesis intact.

🇮🇳 Tata Motors PV: The Revival Is Real, but Margins Are Waiting Their Turn (Smartkarma) $

  • Tata Motors Passenger Vehicles Ltd (NSE: TMPV / BOM: 500570) reported record quarterly wholesales of 1.71 lakh units in Q3 FY26(+22% YoY). Q3FY26 domestic sales reached 6.31 lakh units, overtaking Hyundai for the first time.

  • JLR’s cyber disruption led to a sharp decline in Q3 (revenue -39% YoY, EBIT -6.8%), masking strong recovery in India PV, driven by EVs, CNG, and SUVs gaining traction together.

  • With EBITDA margins at ~7% and EVs turning EBITDA-positive early, the key question is whether volume growth can translate into sustainable profitability before competition intensifies by FY27.

🌍 The Post-Hormuz World: Why I’m Betting on the Infrastructure That Bypasses the Chokepoint (Public Markets)

  • Even if this ceasefire holds — even if every mine is cleared and every missile battery stands down — the Strait of Hormuz as we knew it is finished.

  • And a massive reallocation of capital into bypass infrastructure has already begun.

  • Let me walk through what actually happened to global energy flows, because the headline numbers don’t capture the severity.

  • The Three Shifts That Will Reshape Energy Infrastructure for a Decade

🇹🇷 TAV Havalimanlari Holding: Panic Selling Creates A Strong Buy (Seeking Alpha) $ 🗃️

🇦🇪 Abu Dhabi’s Mubadala Capital raises almost $1bn for latest Brazil fund (FT) $ 🗃️

🇭🇺 Post-Orban Hungary: Economic Implications of Regime Change in Budapest (Werner Economics)

  • US Vice-President JD Vance travelled to Budapest to back a Hungarian Prime Minister under pressure from a foreign-backed challenger who could reshape EU politics

  • Hungary has refused to adopt the EU Commission policy of ending the reliance on cheap and reliable energy from Russia; so Hungary continues to buy energy from Russia and as a result has been able to keep the retail prices at the pumps unchanged this year from the previous year, to the ire of the Commission, which demands that such price caps must be abolished and energy prices must be raised. Another area of strong disagreement with the EU has been the EU’s war policy: Hungary keeps vetoing further billions of European public money for Ukraine.

🇵🇱 LIvechat Software SA 2026 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇵🇱 Text SA (WSE: TXT / LON: 0QTE / FRA: 886 / OTCMKTS: LCHTF) – Develops & distributes communication software for businesses worldwide. It offers LiveChat, ChatBot, KnowledgeBase & HelpDesk. 🇼 🏷️

🌎 The Orange Drift – How Latin American leaders are responding to Trump (Latin America Risk Report)

  • Updating my framework shows more leaders aligning with Trump and no populist opponents remaining.

  • Last February, I published a chart of how Latin American leaders are responding to Trump. I updated it last April and again in September. This morning, I’ve updated the chart for April 2026. Chart below followed by some notes and analysis. The key takeaway is that there has been a drift toward alignment with Trump among Latin American leaders.

🌍 Globant: Too Cheap To Ignore (Seeking Alpha) $ 🗃️

🌍 Millicom: The New And Better Telefonica Latam (Seeking Alpha) $ 🗃️

  • 🌎 Millicom (NASDAQ: TIGO) – Fixed & mobile, telecommunications services, cable & satellite TV, mobile financial services & local content such as music & sports in Latin America. 🇼 🏷️

🇦🇷 YPF Sociedad Anonima: Re-Rating Has More Behind It Than Oil (Seeking Alpha) $ 🗃️

  • 🇦🇷 🏛️ Ypf Sa (NYSE: YPF) – Vertically integrated, majority state-owned Argentine energy company. Oil & gas exploration & production + transportation, refining & marketing of gas & petroleum products. 🇼 🏷️

🇧🇷 Embraer: $50 Billion In Contracted And Optioned Backlogs Bodes Well For FY 2026 (Seeking Alpha) $ 🗃️

🇧🇷 Petrobras: Keep Adding On Strength (Seeking Alpha) $ 🗃️

🇧🇷 Bradesco: Operational Efficiency Is Up, But Better Banking Alternatives Remain (Seeking Alpha) $ 🗃️

🇧🇷 Sabesp: A New Privatization As An Opportunity! (Seeking Alpha) $ 🗃️

🇧🇷 Itaú Unibanco: Execution Still Justifies The Premium (Seeking Alpha) $ 🗃️

🇧🇷 Nu Holdings: Doubling Down Despite U.S. Expansion Concerns (Seeking Alpha) $ 🗃️

🇧🇷 Banco Do Brasil: The Rebound Still Looks Premature (Seeking Alpha) $ 🗃️

🇧🇷 StoneCo: The Recent Drop Is A Golden Buying Opportunity (Rating Upgrade) (Seeking Alpha) $ 🗃️

🇧🇷 Atlas Lithium Stock Rebounded After Cooperation Agreement: I Rate It A Buy (Seeking Alpha) $ 🗃️

  • 🇧🇷 Atlas Lithium Corporation (NASDAQ: ATLX) – Exploration projects for lithium & other battery minerals in Brazil + nickel, rare earths, titanium, graphite, gold, diamond & industrial sand.

🇲🇽 Volaris: Oil Shock And A Volatile Path To Recovery (Seeking Alpha) $ 🗃️

🇲🇽 Grupo Aeroportuario del Sureste: Despite New Risks, I Remain Bullish (Seeking Alpha) $ 🗃️

🇻🇪 So You’re Thinking of Investing in Venezuela (Caracas Chronicles)

🇻🇪 The Investors Moving Early Into Venezuela Are Bullish and Ready for Risk (WSJ) $ 🗃️

  • American and Colombian firms see an opportunity to get in on the ground floor of the country’s potential recovery

  • “In Caracas, you now find different companies and people traveling to investigate, to see where they can invest,” said Jose Gonzales, who recently visited Venezuela and is a managing partner of GCG Advisors, a New York-based financial advisory firm. “There are people who have never been in Venezuela, who don’t have a network in Venezuela.”

  • Charles Myers, chairman and founder of Signum Global Advisors in New York, was so bullish he began planning a trip to Caracas last year—convinced Nicolás Maduro’s 13-year rule was nearing its end amid President Trump’s intense pressure campaign.

🌐 IMF warns of emerging markets’ exposure to ‘flighty’ hedge funds (FT) $ 🗃️

🌐 As Emerging Markets Attract More Nonbank Capital, They Also Face New Challenges (IMF Blog)

  • Nonbank financial investors expand funding access for emerging markets, but their flows are highly sensitive to shifts in global risk sentiment

  • Emerging-market firms and governments seeking funding from abroad are increasingly looking beyond banks to nonbank sources. As we discuss in an analytical chapter of the latest Global Financial Stability Report, this trend delivers important benefits but also poses new risks—notably greater vulnerability to a sudden reversal in capital flows when global shocks occur.

🌐 Nebius Is Becoming The Next AI Hyperscaler (Seeking Alpha) $ 🗃️

🌐 Nebius: The Constant Gamechanger (Seeking Alpha) $ 🗃️

🌐 Nebius: Winning The AI GPU Shortage Game (Seeking Alpha) $ 🗃️

  • 🌐 Nebius Group NV (NASDAQ: NBIS) – AI-centric cloud platform built for intensive AI workloads. Sold Yandex to a consortium of Russian investors. Retains several businesses outside of Russia. 🇼 🏷️

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Note: Investing.com has a full calendar for most global stock exchanges BUT you may need an Investing.com account, then hit “Filter,” and select the countries you wish to see company earnings from. Otherwise, purple (below) are upcoming earnings for US listed international stocks (Finviz.com):

World Map

Click here for the full weekly calendar from Investing.com containing frontier and emerging market economic events or releases (my filter excludes USA, Canada, EU, Australia & NZ).

Frontier and emerging market highlights (from IFES’s Election Guide calendar):

Frontier and emerging market highlights from IPOScoop.com and Investing.com (NOTE: For the latter, you need to go to Filter and “Select All” countries to see IPOs on non-USA exchanges):

Maywood Acquisition Corp. 2 MYXXU D. Boral Capital, 10.0M Shares, $10.00-10.00, $100.0 mil, 4/14/2026 Tuesday

(Incorporated in the Cayman Islands)
We are a newly organized blank check company. We have not selected any target business and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any target business regarding an initial business combination with our company. We may pursue an initial business combination in any industry or geographic location that we determine is attractive and in the best interests of our shareholders.
Our management team is led by Zikang Wu, our Chairman, Chief Executive Officer and Chief Financial Officer. Alongside him, Zixun Jin, Hao Tian and Chao Yang will serve as independent directors, bringing expertise in financial risk management, compliance and capital markets. We believe our management team will be able to source attractively valued and high-growth investment opportunities through our management team’s experience and network.
Zikang Wu, our Chairman, Chief Executive Officer and Chief Financial Officer, is the founder and president of First Cover, Inc., a New York-based risk, compliance, and corporate services provider formed in April 2021. At First Cover, Mr. Wu has advised numerous publicly traded companies, emphasizing his expertise in public company listings, particularly within the SPAC sector. Mr. Wu also serves as Chief Financial Officer of Maywood Acquisition Corp., a SPAC that has entered into a definitive agreement for an initial business combination with GOWell Technology Limited and is seeking to consummate such transaction. From June 2023 to December 2023, Mr. Wu served as Chief Executive Officer, Chief Financial Officer, and Chairman of Healthcare AI Acquisition Corp., a SPAC that has entered into a business combination agreement with Leading Group Limited, a provider of insurance products in the People’s Republic of China. Additionally, Mr. Wu is the Chief Executive Officer of Tigerless Health, Inc., a US direct-to-consumer Insurtech company that he founded in September 2018.
(Note: Maywood Acquisition Corp. 2 is offering 10 million units at $10.00 each to raise $100 million, according to its SEC filings. Maywood Acquisition Corp. 2 changed the composition of its unit’s structure in an S-1/A filing dated March 25, 2026: Each unit now includes one redeemable warrant in addition to one share and one right to receive one-fourth (1/4) of a share upon the consummation of an initial business combination. Background: Maywood Acquisition Corp. 2 filed its S-1 for its SPAC IPO in December 2025 and disclosed the terms: 10 million units at $10.00 each to raise $100.0 million. In the initial filing, each unit consisted of one share and one right to receive one-seventh (1/7) of a share upon completion of the initial business combination.)

Riku Dining Group RIKU Eddid Securities USA, 5.0M Shares, $4.00-6.00, $25.0 mil, 4/20/2026 Week of

(Incorporated in the Cayman Islands)
We operate and franchise Japanese-style restaurants in Canada and Hong Kong:
In Canada – Ajisen Ramen is our franchise. We run four restaurants and we franchise nine more restaurants across Ontario.
In Hong Kong – We have seven restaurants under three franchised brands – Yakiniku Kakura, Yakiniku 802 and Ufufu Cafe.
Note: Net income and revenue are in U.S. dollars for the 12 months that ended March 31, 2025.
(Note: Riku Dining Group more than doubled its IPO’s size – to $25 million – up from $11.25 million – in an F-1/A filing on March 16, 2026: The company now plans to offer 5.0 million shares – up from 2.25 million shares previously – at a price range of $4.00 to $6.00 – the same as before – to raise $25 million, according to its March 16, 2026, F-1/A filing. Earlier today, the company withdrew its previous IPO filing. Background: Riku Dining Group disclosed the terms for its IPO in an Oct. 8, 2025, filing with the SEC: The company is offering 2.25 million shares at a price range of $4.00 to $6.00 to raise $11.25 million. Background: Riku Dining Group filed its F-1 for its IPO in September 2025 without disclosing the terms. Estimated IPO proceeds are $16 million.)

Climate change and ESG are some recent flavours of the month for most new ETFs. Nevertheless, here are some new frontier and emerging market focused ETFs:

Frontier and emerging market highlights:

Check out our emerging market ETF lists, ADR lists (updated) and closed-end fund (updated) lists (also see our site map + list update status as most ETF lists are updated).

I have changed the front page of www.emergingmarketskeptic.com to mainly consist of links to other emerging market newspapers, investment firms, newsletters, blogs, podcasts and other helpful emerging market investing resources. The top menu includes links to other resources as well as a link to a general EM investing tips / advice feed e.g. links to specific and useful articles for EM investors.

Disclaimer. The information and views contained on this website and newsletter is provided for informational purposes only and does not constitute investment advice and/or a recommendation. Your use of any content is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the content. Seek a duly licensed professional for any investment advice. I may have positions in the investments covered. This is not a recommendation to buy or sell any investment mentioned.

Emerging Market Links + The Week Ahead (April 13, 2026) was also published on our website under the Newsletter category.

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