Emerging Market Links + The Week Ahead (November 2, 2026)

ABC News 10 November 3, 2026 0


This weekend while I assume many readers were distracted by Halloween/midterms/annual time change (at least for Americans) and the gyrating global tech markets; I went to the opening day for the long awaited 118 Mall below Merdeka 118 (now called Merdeka Maybank Tower and the second tallest building in the world) and I was impressed:

With as many as around 272 malls (depending on what is being counted and who is doing the counting) in the whole Klang Valley (probably around 9 million people now), I was surprised that it looks like most of the retail space will be filled up – just like with The Exchange TRX mall (which opened in 2023 below The Exchange 106 – another key government linked project that’s the third tallest building in SE Asia).

Walking on the way to the new mall, I stopped for a Diwali performance at Berjaya Times Square (opened in 2003 and the tenth largest building in the world where the retail portion of the 19-storey shopping mall with its indoor rollercoaster has been shrinking considerably since I first came here) and then to “Octofest” on the roof of the nearby LaLaport Bukit Bintang City Centre (which opened in 2022 and still has noticeable empty space and alot of AirBnB in the residential towers – so I am told).

All of this (along with Chinese F&B/retail plus Temu also aggressively expanding in SE Asia e.g. Is Pinduoduo a threat to Sea Limited?) makes me wonder if the so-called skyscraper curse will soon need to be revised as the mall curse…

[At least the wind has blown the haze back to Indonesia and it sounds like the observation deck at the 118th floor is a reasonable RM90 or $22 to visit…]

$ = 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

🇨🇳 Shorts Beware? China’s Plunge Protection Team Stabilizes Stocks With $15 Billion Swap Rescue Plan (ZeroHedge)

  • China’s version of the Plunge Protection Team is coming out swinging Monday morning, after the central bank announced earlier today that it would inject a new round of a $15 billion swap facility to rescue stocks from a vicious bear market.

  • After markets closed, the People’s Bank of China said it would hold a one-year swap auction Tuesday, with 31 brokerages and funds applying for quotas totaling more than $15 billion. The facility lets financial firms exchange eligible assets for highly liquid central bank assets, increasing their ability to buy equities.

  • South China Morning Post said the 31 institutions, including securities firms and asset management companies, applied for the facility, which would allow their trading desks to buy stocks mired in a downturn since summer.

🇨🇳 Analysis: China’s Bond-Market Backstop Targets Runs, Not Investment Losses (Caixin) $

  • China’s central bank established an emergency swap facility on Monday to help contain bond-market sell-offs triggered by large redemptions at nonbank financial institutions, while requiring participants to maintain prudential standards.

  • The Bond Market NBFI Swap Facility (BNSF) addresses a growing vulnerability: asset managers have become major bond investors, but their access to emergency liquidity remains less developed than that of banks. Its design seeks to interrupt a cycle of redemptions and forced selling without shielding institutions or investors from the consequences of excessive risk-taking, industry experts said.

🇨🇳 Analysis: China’s IPO Boom Tests the Limits of Price Discovery (Caixin) $

  • Chinese mainland IPOs have delivered strong first-day gains, but the spectacular debuts are increasingly being followed by sharp declines, raising questions about whether new stocks are being priced in a balanced market.

  • Shanghai Enflame Technology Co Ltd (SHA: 688801), a domestic AI chipmaker, rose 179% from its IPO price to close at nearly 400 yuan ($60) on its Sept. 11 debut. Three weeks earlier, robotics company Unitree Robotics [Yushu Technology Co Ltd (SHA: 688836) surged 460% on its first trading day.

🇨🇳 Theoria Weekly #13 (Theoria Research)

  • Q3 earnings: Moutai stands alone; Midea outshines Haier and Gree; Is it time for CMB to outperform again?

  • It’s Q3 earnings season in China’s A-share market. Let’s take a look at a few companies I own and the industries they operate in.

    • Moutai stands alone

      • Kweichow Moutai (SHA: 600519) reported its Q3 results this week. Revenue grew 3.1% YoY to RMB40.3 billion, while net profit rose 3.8% to RMB20.0 billion. These numbers may not look impressive on their own, but they stand out against the rest of China’s baijiu industry.

    • Midea outshines Haier and Gree

    • Is it time for CMB to outperform again?

      • China Merchants Bank (SHA: 600036 / HKG: 3968 / OTCMKTS: CIHKY / OTCMKTS: CIHHF) reported a solid Q3. Total assets grew 8.83% YoY to RMB13.76 trillion, well above the 7.2% average for Chinese commercial banks and roughly in line with the 8.8% average for the six large state-owned banks.

🇨🇳 Alibaba: At $100, The Market Is Pricing The Bear Case (Seeking Alpha) $ 🗃️

🇨🇳 Is Pinduoduo a threat to Sea Limited? (GabGrowth)

  • One of the most common questions I’ve received recently is how Pinduoduo’s expansion into Southeast Asia will affect Shopee.

  • Pinduoduo has been aggressively marketing and advertising in Southeast Asia in recent months, and if you are based in Singapore, Malaysia or Thailand, you would probably have seen their ads on Instagram, Facebook etc…

  • For those unfamiliar, Pinduoduo is one of China’s largest e-commerce platforms, owned by PDD Holdings (NASDAQ: PDD), which also operates Temu.

  • Both Pinduoduo and Temu are being rolled out across Southeast Asia, in 5 of the 6 major markets, with the exception of Indonesia, which continues to block cross-border e-commerce.

  • The natural question is: why is PDD Holdings allowing both their subsidiaries to compete with each other?

🇨🇳 Baidu: An Asymmetric Risk-Reward Opportunity With Multiple Re-Rating Catalysts (Seeking Alpha) $ 🗃️

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

🇨🇳 Tencent: Transitioning From Social Super App To AI Super App (Seeking Alpha) $ 🗃️

🇨🇳 HUYA Q3 2026 Preview: Game-Related Services And Advertising Take The Wheel (Seeking Alpha) $ 🗃️

🇨🇳 Weibo Q3 2026 Preview: Deepening Macro Headwinds Weigh On Top-Funnel Ad Yield (Seeking Alpha) $ 🗃️

  • 🇨🇳 Weibo Corp (NASDAQ: WB) 🇰🇾 – Social media for people to create, share & discover content online. 🇼 🏷️

🇨🇳 Kingsoft Cloud Q3 2026 Preview: Riding The AI Wave, But Capex Scrutiny Remains (Seeking Alpha) $ 🗃️

🇨🇳 Full Truck Alliance: Q3 2026 Preview, Macro Pressure Piling (Downgrade) (Seeking Alpha) $ 🗃️

  • 🇨🇳 Full Truck Alliance (NYSE: YMM) 🇰🇾 – Digital freight platform connecting shippers with truckers to facilitate shipments across distance ranges, cargo weights & types.

🇨🇳 Monthly Chinese Express Tracker | September and Q3 Data Suggest Modest Uptick in eComm Activity (Smartkarma) $

  • Express parcel volume growth in September and Q3 appears to have improved slightly vs Q2

  • Two companies (STO, J&T Global Express Ltd (HKG: 1519 / SWB: J92)) appear to be gaining consistent parcel volume share from rivals

  • Initial parcel volume figures suggest a modest upturn in eComm activity in recent months

🇨🇳 51World wins Nvidia’s nod. Now it just needs to translate that to sales (Bamboo Works)

  • The company’s shares rallied 30% on its inclusion in an Nvidia driving simulation program, as its fast-growing simulation segment is on track to overtake its older digital twin business

  • Nvidia has included Beijing 51World Digital Twin Technology Co Ltd (HKG: 6651 / FRA: GQ0)’s simulation subsidiary in its self-driving safety initiative, extending a collaboration announced in March

  • Simulation services rose more than sixfold to supply 41% of the company’s first-half sales this year, and are on track to become its biggest revenue source

🇨🇳 Chart of the Day: China AI Chip Stocks Slide Despite Surging Earnings (Caixin) $

[Hygon Information Technology (SHA: 688041) / Cambricon Technologies Corp (SHA: 688256)]

  • China’s two leading AI chipmakers posted strong earnings growth in the first three quarters of 2026, but that couldn’t stop their share prices from plunging amid concerns over the burst of the AI bubble.

  • The divergence between robust financial performance and falling valuations reflects broader market jitters over the return on investment in AI infrastructure, which has triggered a sell-off in technology stocks even as domestic demand for computing power surges.

🇨🇳 CXMT (688825 CH): 3Q26 Results – Revenue Up 19%, Shareholder Profit Up 3%; Minorities Took It (Smartkarma) $

  • 3Q26 revenue rose 19% QoQ to Rmb118.7bn at an 89.5% gross margin, at the top of the company’s preview range.

  • Profit to shareholders rose only 3% QoQ to Rmb54.4bn as minority partners took 39% of the quarter’s profit, up from 29%.

  • Maintain BEARISH with unchanged FV Rmb31.40 (−25% downside potential). At 9.8x consensus 2027 P/E, Changxin Memory Technologies (CXMT) (SHA: 688825) trades at about twice Korean peers with more leakage and policy risk.

🇨🇳 Unitree Robotics Surges as AI Models Promise to Unlock Robot Potential (Caixin) $

  • Shares of Unitree Robotics [Yushu Technology Co Ltd (SHA: 688836) surged to the daily trading limit on Friday as investors bet that rapid advances in general-purpose AI will overcome the company’s longstanding software weaknesses and reinforce its hardware dominance.

  • The stock closed up 20% at 624 yuan ($93) on Friday, extending a rapid rally from about 408 yuan on Oct. 15. The surge followed comments from the company’s founder Wang Xingxing, who showcased how OpenAI’s new GPT-6 Astra model could directly operate robots without prior training.

🇨🇳 Unitree Warns of Valuation Risks After Shares Surge More Than 65% (Caixin) $

  • Chinese humanoid robot maker Unitree Robotics [Yushu Technology Co Ltd (SHA: 688836) warned investors of valuation risks after its shares surged more than 65% over seven trading days, buoyed by a double upgrade from J.P. Morgan and optimism about physical artificial intelligence.

  • The rally marks a partial recovery from a steep post-listing decline, even as the company trades at a valuation far above its industry average and faces hurdles to commercializing humanoid robots.

🇨🇳 Unitree’s Robot Rise Comes With Rising Costs, Inventory (Caixin) $

  • Chinese humanoid robot-maker Unitree Robotics [Yushu Technology Co Ltd (SHA: 688836) reported a sharp rise in quarterly revenue but a decline in profit in its first earnings report since going public, as higher spending on AI and product development weighed on results.

  • Unitree said third-quarter revenue rose 69.9% from a year earlier to 665 million yuan ($99.8 million), while net profit fell 17.4% to 112.7 million yuan.

🇨🇳 MiniMax (100 HK) – M3.1 Flash Is Unable to Reverse the Predicament (Smartkarma) $

  • M3.1-Flash won’t change the core contradiction at fundamentals. MiniMax Group (HKG: 0100 / FRA: E5A)’s positioning naturally puts it in a passive defensive position in price war. M3.1-Flash doesn’t constitute a sufficient reason for raising valuation.

  • Current core issue is not “how much MiniMax’s stock price has dropped”, but “when the macro headwinds will ease”, before which the return of investing in MiniMax is not attractive.

  • The release of M3 Pro could be a catalyst, but in a systematic valuation compression, positive news may just bring a pulse-like rebound rather than a trend reversal.

🇨🇳 The Rise of GLM and China’s Zhipu AI (Asianometry) 22:30 Minutes

  • In early 2026, two AI labs – MiniMax Group (HKG: 0100 / FRA: E5A) and Z.AI Co Ltd (HKG: 2513 / OTCMKTS: KATJF) – IPO’ed on the Hong Kong stock exchange. While MiniMax is interesting, today I want to look at the second of the two. Z.ai is more well known as Zhipu (智譜) and they produce the well-regarded GLM series of open-weight models. If DeepSeek is China’s OpenAI, then would that make Zhipu like its Anthropic? In today’s video, we profile one of China’s top AI labs.

🇨🇳 Dongshan Precision (东山精密): Allotment and Pre-Listing Analysis (Smartkarma) $

  • Suzhou Dongshan Precision Manufacturing Co Ltd (SHE: 002384), a PCB and optical transceiver maker, raised USD 1,238.5m from its global offering and will list on HKEX on Wednesday, 28 Oct 2026.

  • In our previous notes, we looked at the company’s fundamentals and the deal terms.

  • In this note, we provide an update for the IPO before its trading debut.

🇨🇳 CIG redirects $225 million of IPO funds to massive optical business buildup (Bamboo Works)

  • The company is pouring roughly HK$5 billion in fresh funds into its optical transceiver unit whose sales are soaring on the global AI infrastructure buildup

  • CIG ShangHai Co Ltd (SHA: 603083 / HKG: 6166) will redirect HK$1.77 billion of its IPO funds originally earmarked for its legacy broadband and wireless businesses into its newer optical products unit

  • The company’s revenue rose 67% in the third quarter, double the rate in the first half, on exploding demand from AI infrastructure and cloud computing customers

🇨🇳 After pricy robotics push, CSG powers up for Hong Kong listing (Bamboo Works)

  • The provider of equipment for power grids and industrial automation is seeking to raise funds for AI-related product upgrades and overseas expansion

  • Csg Smart Science&Technology Co Ltd (SHE: 300222) returned to profit two years ago after reducing its exposure to the automotive sector, but has invested heavily in a move into industrial robotics

  • Its mainstay business of technology for power grids contributed about 94% of first-half revenue growth

🇨🇳 Insta360 Profit Falls 94% Despite Strong Sales Growth (Caixin) $

  • Shanghai-listed Arashi Vision Inc (SHA: 688775) [panoramic cameras and action cameras], better known as Insta360, reported a 93.6% year-on-year drop in third-quarter net profit as spending on new products and market expansion weighed on earnings despite strong sales growth.

  • Net profit fell to 17.4 million yuan ($2.6 million), while revenue rose 33.3% to 3.9 billion yuan, according to the company’s latest earnings report.

🇨🇳 Hisense catches chill from cooling Chinese economy (Bamboo Works)

  • The air conditioner and refrigerator maker’s revenue fell 8.8% in the third quarter, accelerating from a 5.2% decline in the first half of the year

  • Hisense Home Appliances Group (SHE: 000921 / SHA: 600060 / HKG: 0921)’s revenue fell 8.8% in the third quarter, while its profit excluding non-recurring items plunged 96.7%

  • The home appliance maker’s receivables jumped 63% over the three months to September, indicating a growing number of customers weren’t paying their bills

🇨🇳 BYD: Short-Term Challenges, But Long-Term Buy (Seeking Alpha) $ 🗃️

🇨🇳 BYD’s export surge helps offset sales weakness in China (FT) $ 🗃️

🇨🇳 China Passenger Car Sales Forecast to Fall 22% in 2026 (Caixin) $

  • China’s domestic passenger-car retail sales are expected to fall 22% to 18.5 million vehicles in 2026, below the level recorded in the first year of the pandemic, according to the China Passenger Car Association (CPCA).

  • The forecast marks the association’s latest downward revision as weak consumer demand and reduced government incentives weigh on the world’s largest auto market. Carmakers are increasingly turning to exports, though overseas growth has not fully offset the domestic decline.

🇨🇳 Forex losses smudge Fuyao’s profit, as smart glass awaits volume growth (Bamboo Works)

  • The automobile glass maker’s revenue rose marginally in the first three quarters, as it accelerates smart glass development to jumpstart its stalling growth

  • FuYao Glass Industry Group (SHA: 600660 / HKG: 3606 / FRA: 4FG)’ revenue rose 2.46% in the first three quarters of 2026, while its net profit dropped by 14.97%

  • The car glass maker’s profit was dragged down by 1.07 billion yuan in foreign exchange losses during the nine-month period

🇨🇳 H World Group: From RevPAR Expansion To Market Share Defense; Downgrade To HOLD (Seeking Alpha) $ 🗃️

🇨🇳 Pop Mart’s bubble bursts with fading Labubu craze (Bamboo Works)

  • The company’s third-quarter revenue plunged between 45% and 50%, led by drops of more than 65% in its Asia Pacific and Americas markets

  • Pop Mart International Group (HKG: 9992 / FRA: 735 / OTCMKTS: PMRTY / POPMF)’s third-quarter revenue fell up to 50%, as sales outside its home China market dropped dramatically with the fading of last year’s Labubu craze

  • The toy maker’s stock has lost two-thirds of its value from an all-time high last year, leaving it valued lower than domestic and global peers like Bloks and Hasbro

🇨🇳 Pop Mart sales fall up to 50% as Labubu fever ebbs (FT) $ 🗃️

🇨🇳 Haitian finds bitter taste in China’s restaurant slowdown (Bamboo Works)

  • The country’s leading soy sauce maker’s revenue flattened in the third quarter, as sales for its core product contracted year-on-year

  • Foshan Haitian Flavouring & Food (SHA: 603288 / HKG: 3288) reported its revenue was flat in the third quarter, as sales of its key soy and oyster sauces both contracted

  • The leading soy sauce maker is falling victim to China’s restaurant slowdown, since more than half of its sales come from the catering industry

🇨🇳 Analysis: China’s Banks Are Flush With Cash but Short of Good Loans (Caixin) $

  • China’s banks are being encouraged to steer more credit toward technology, green industries and small businesses. But as overall demand for loans weakens, the policy push is creating increasing competition to lend to companies that may need their money least, while some healthy businesses outside favored sectors face greater difficulty obtaining loans.

  • “This morning I visited a tech company to inquire about their loan needs. They said they’re currently busy hiring, their existing space isn’t enough, they need to rent a place quickly, they have too much cash to spend, no time to talk, and they don’t need a bank loan,” a branch manager of a major bank told Caixin.

🇨🇳 Chinese Insurers’ Profits Plunge as Stock Market Slides (Caixin) $

  • Shanghai-listed Ping An Insurance (SHA: 601318 / HKG: 2318 / SGX: HPAD / OTCMKTS: PNGAY) and China Pacific Insurance (Group) Co Ltd (SHA: 601601 / HKG: 2601 / FRA: 75CB / OTCMKTS: CHPXF) reported steep third-quarter net profit declines as a stock market downturn hit investment returns.

  • Third-quarter net profit plunged 93.7% at Ping An and 68.4% at CPIC, according to exchange filings released Wednesday.

  • Both insurers defied market expectations that all listed insurers would post net losses in the third quarter.

🇨🇳 Ping An Insurance (Group) Company of China, Ltd. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇨🇳 Ping An’s operating profit climbs 8.3% in first nine months despite market volatility (Bamboo Works)

  • Ping An Insurance (SHA: 601318 / HKG: 2318 / SGX: HPAD / OTCMKTS: PNGAY)’s H-shares rose 2.6% after it reported core earnings growth, as its financial services and growing health and senior-care businesses lay a foundation for longer-term growth

  • Ping An’s operating profit rose 8.3% to 126 billion yuan in the first nine months of 2026 despite market swings that affected its net profit

  • The insurer’s diversified financial services, expanding health and senior-care units and continued technology investment are driving longer-term value creation

🇨🇳 UP Fintech: Regulatory Risk And Likely 3Q26 Weakness Leads To A Sell Rating (Seeking Alpha) $ 🗃️

🇨🇳 Qifu Technologies $QFIN: A Story of Numbers That Refuse to Make Sense

  • I have spent years looking at companies where the numbers and the narrative pull in opposite directions. Sometimes the story is better than the spreadsheet. Sometimes it is the other way around. With Qifu Technology (NASDAQ: QFIN), the leading independent AI-driven credit-tech platform in China under the Qifu Jietiao brand, the spreadsheet has been screaming for some time. At a recent share price around $5.67 and a market capitalization near $690 million, the stock trades at a trailing price-to-earnings ratio of roughly 1.3 to 1.5 times. That is not a valuation one expects for a platform that has already served tens of millions of borrowers and works with more than 160 financial institutions. It is the kind of multiple usually reserved for businesses in terminal decline or facing existential regulatory threats. Neither description fully fits what I see today.

🇨🇳 Evergrande Property Services (6666 HK): PAG’s Possible Unconditional MGO (Hong Kong/China M&A/Events) $

  • Back on the 11th September 2025, Evergrande Property Services Group Ltd (HKG: 6666 / OTCMKTS: EVGPF) (EPS) announced that liquidators for Evergrande (3333 HK) had been fielding non-binding Offers for Evergrande’s 51.016% stake in EPS.

  • EPS announced on the 14th April, Evergrande had entered into a 30 day exclusivity period with a mystery buyer. Following HKEx updates, “exclusive negotiations” expired on the 27th October.

  • This morning, EPS announced private asset manager PAG had entered into a SPA to acquire Evergrande’s 51.016% stake. Price? HK$0.8359/share, a 29.5% discount to last close.

🇨🇳 Daqo New Energy Q3 Review: The End May Be Close, But It’s Not Certain; Hold (Seeking Alpha) $⛔🗃️

🇨🇳 Dajin Heavy Industry runs low on wind five months after IPO (Bamboo Works)

  • The wind power equipment maker’s shares are down more than 60% since their June listing in Hong Kong, as the company reported its profit deteriorated in the third quarter

  • Dajin Heavy Industry Co Ltd (SHE: 002487 / HKG: 1081) said its profit fell 20% in the first three quarters of the year, including a 68% drop in the third quarter

  • The wind power equipment maker’s business took a hit from foreign exchange losses, as well as delayed delivery schedules

🇨🇳 GCL tries lithium battery materials in search of diversification (Bamboo Works)

  • The solar materials maker plans to acquire 82% of sister company GCL Lithium Battery, paying with a combination of cash and shares

  • GCL Technology Holdings Ltd (HKG: 3800 / FRA: 3GY / OTCMKTS: GCPEF) will acquire a battery cathode materials business from a sister company for 2.5 billion yuan in cash and stock

  • The solar materials maker’s first-half loss widened as it continues to suffer from a prolonged supply glut in the polysilicon industry

🇨🇳 Zai Lab Limited (ZLAB) Discusses Phase 1 Study Results of DLL3-Targeted ADC ZL-1310 in Small Cell Lung Cancer – Slideshow (Seeking Alpha)

  • 🇨🇳 Zai Lab Limited (NASDAQ: ZLAB) 🇰🇾 – Commercial-stage biopharmaceutical company (oncology, immunology, neuroscience & infectious diseases).

🇨🇳 Akeso’s overseas drug promise fails to slow share decline (Bamboo Works)

  • The Chinese drugmaker has been under pressure on equity markets since revealing plans for a share placement, overriding positive news for its key cancer therapy

  • Akeso (HKG: 9926 / FRA: 4RY / OTCMKTS: AKESF)’s shares have now fallen below the October placement price, in a sell-off compounded by overall stock market weakness

  • Its revenue from innovative drugs rose 29% in the first half of the year, but the company is still making a loss, and overseas sales have yet to materialize

🇨🇳 HOSIN (宏芯宇) Pre-IPO: First Look (Smartkarma) $

  • HOSIN, a memory product company with in-house controller chips, has passed the HKEX listing hearing and is seeking a Main Board listing. CSC is the sole sponsor.

  • We look at the company’s three core segments: embedded storage, DRAM and memory IC.

  • We then look at the company’s financial profile, profit sensitivity to memory prices, pre-IPO valuation and investor backing.

🇨🇳 HK IPO WATCH: Adaspace Technology – A Shooting Star in China’s Satellite Frontier Market!! (Smartkarma) $

  • Adaspace Technology is a commercial aerospace company that designs, manufactures, launches, and operates AI-enabled satellites. It delivers satellite-based data solutions to enterprise and government customers across China.

  • Its core proposition is integrating AI into satellite hardware—enabling on-orbit data processing, real-time decision-making, and space-based computing—positioning the company at the intersection of China’s commercial space and AI infrastructure buildout.

  • The company filed its PHIP on October 29th and expects to list in November. Its last pre-IPO funding round in April valued the company at about 11.5B RMB.

🇭🇰 Hong Kong IPOs Face Liquidity Test as Share Supply Surges (Caixin) $

  • Hong Kong’s IPO market is facing a test of investor demand as a surge in share offerings coincides with capital outflows.

  • Since July, at least four companies have postponed or abandoned their Hong Kong listings after launching IPOs.

  • Investor demand has been weak for some listings. Suzhou Dongshan Precision Manufacturing Co Ltd (SHE: 002384) fell 0.75% on its Hong Kong debut Wednesday. Its shares were priced at a discount of more than 30% to its Chinese mainland-listed stock, yet the Hong Kong public offering was just 0.52 times subscribed.

🇭🇰 HKBN Ltd. 2026 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

🇭🇰 YesAsia shines in intermediary role for Asian fashion and beauty brands going global (Bamboo Works)

  • The Hong Kong-based beauty e-commerce site that began by serving the Chinese diaspora has become one of the world’s top online sellers of Korean cosmetics and fashion

  • YesAsia Holdings Ltd (HKG: 2209 / FRA: 4CM / OTCMKTS: YSASF)’s operating profit rose 56.3% in the third quarter on a 24.9% rise in orders, as its B2B wholesale business continues to gain traction

  • The Hong Kong-based e-commerce company pivoted to Korean fashion and cosmetics in 2006, years before the competition

🇭🇰 Public Financial (626 HK): 23rd Nov Vote On Public Bank’s Offer. Done Deal (Hong Kong/China M&A/Events) $

  • On the 8th September 2026, Public Bank (PBK MK) made a HK$2.50/share Scheme Offer for 73.23%-held Public Financial (626 HK), a 61.29% premium to last close

  • In Public Financial (626 HK): HK$2.50/Share Will Get This Offer Over The Line, I expected the transaction to be fast-tracked in ~four months, ahead of the 31st March 2027 long-stop.

  • The Scheme Document is now out, with a 23rd November Scheme Meeting, and expected payment by the the 16th December. The IFA (Somerley) concluded “fair and reasonable“.

🇭🇰 SF REIT (2191 HK) To Wind Up And Distribute Proceeds (Hong Kong/China M&A/Events) $

  • SF Fengtai, SF Real Estate Investment Trust (HKG: 2191)‘s largest shareholder (with 36.61%), and a wholly-owned subsidiary of S.F. Holding (SHE: 002352 / HKG: 6936 / FRA: 2NM0), has agreed to buy SF REIT’s entire operating property company for HK$2,6bn.

  • Once completed, SF REIT will pay unitholders HK$3.28/unit (via special + interim distributions) – a 22.3% premium to undisturbed – then liquidate and delist.

  • China Orient [China Oriental Group Co Ltd (HKG: 0581 / FRA: ORG / OTCMKTS: CUGCY / CUGCF)], with 20.28% of shares out, is supportive. This may potentially wrap up late 1Q27.

🇲🇴 Macau’s 2026 arrivals may top 41mln, but overnighter segment lags so far: tourism boss (GGRAsia)

  • Macau’s visitor arrivals for full-year 2026 may exceed the local government’s 41-million forecast, though the overnighter segment has so far been “lagging” year-on-year compared to the 14.5 percent growth in day trippers witnessed in the nine months to September 30.

  • So indicated Maria Helena de Senna Fernandes, director of Macao Government Tourism Office (MGTO), when speaking to local media on the sidelines of a Thursday event.

🇲🇴 Macau still able to meet US$29.2bln GGR target for 2026: CreditSights (GGRAsia)

  • Macau can still achieve the government’s MOP236-billion (US$29.2-billion) casino gross gaming revenue (GGR) target for 2026, says CreditSights. The institution said in a Monday report that it was “too early to conclude” that recent softer monthly figures reflect structural weakness in the market.

  • The research firm said in the memo that Macau would require average monthly GGR of MOP16.3 billion in the fourth quarter to reach the full-year target. October’s revenue figure would, however, provide a “clearer” indication of the outlook.

  • “For now, we still see room for Macau to reach its 2026 GGR target,” wrote analysts Nicholas Chen and David Bussey.

🇲🇴 Sands China plans notes offering to refinance US$700mln debt (GGRAsia)

  • Macau casino operator Sands China (HKG: 1928 / FRA: 599A / OTCMKTS: SCHYY / OTCMKTS: SCHYF) plans to issue U.S. dollar-denominated senior unsecured notes, with part of the proceeds earmarked to redeem US$700 million in debt due in 2027.

  • The proposed offering was announced on Monday by the company’s parent, U.S.-based Las Vegas Sands (NYSE: LVS). The principal amounts, interest rates and other key terms will be determined at pricing.

  • Sands China intends to use the net proceeds, together with cash on hand, to redeem in full its outstanding US$700-million, 2.300-percent senior notes due in 2027, including accrued interest.

🇲🇴 Sands China prices US$1bln notes to refinance debt (GGRAsia)

  • Macau casino operator Sands China (HKG: 1928 / FRA: 599A / OTCMKTS: SCHYY / OTCMKTS: SCHYF) has priced US$1.0 billion in senior unsecured notes across two tranches, with the proceeds earmarked partly to refinance US$700 million in debt due in March 2027.

  • The offering comprises US$700 million of notes carrying an annual interest rate of 6.4 percent and maturing on January 8, 2032, and US$300 million of notes with a 6.7-percent coupon, due on November 8, 2033.

  • The terms were disclosed in a Wednesday filing to the Hong Kong Stock Exchange, following the company’s earlier announcement of the proposed offering.

🇲🇴 Sands China debt manageable despite earnings pressure: analysts (GGRAsia)

  • Sands China (HKG: 1928 / FRA: 599A / OTCMKTS: SCHYY / OTCMKTS: SCHYF)’s debt levels remain manageable despite pressure on its Macau casino earnings, says CreditSights. Separately, Fitch Ratings and S&P Global Ratings said in recent reports that they expect the company’s fresh offering of notes to leave leverage broadly unchanged.

  • The Macau casino firm confirmed in a Wednesday filing that it had priced US$1.0 billion in senior unsecured notes: US$700 million carrying a 6.4-percent annual coupon and maturing in January 2032, and US$300 million carrying a 6.7-percent coupon and due in November 2033.

🇲🇴 Taiwan court upholds ruling on Melco Resorts’ US$41mln gaming debt claim (GGRAsia)

  • The Taiwan High Court on Tuesday upheld a first-instance ruling ordering a Taiwanese high roller to repay casino operator Melco Resorts & Entertainment Ltd (NASDAQ: MLCO) approximately HKD320.47 million (US$40.9 million), plus annual default interest at 29.25 percent, in connection with a gaming debt incurred at a Macau property in 2020, according to Taiwan’s Chinese-language media reports.

🇲🇴 MGM China 3Q revenue hits record US$1.14bln, EBITDAR down 7pct (GGRAsia)

  • Macau casino operator MGM China Holdings Ltd (HKG: 2282 / FRA: M04 / OTCMKTS: MCHVF / MCHVY) reported record quarterly net revenue of just under US$1.14 billion for the three months to September 30, up 4.6 percent from a year earlier. The company achieved a record quarterly market share of 17.1 percent, according to its parent, United States-based MGM Resorts International (NYSE: MGM).

🇲🇴 MGM says strong October in Macau follows record quarterly market share (GGRAsia)

  • Casino operator MGM China Holdings Ltd (HKG: 2282 / FRA: M04 / OTCMKTS: MCHVF / MCHVY) has seen strong trading in October following record quarterly revenue and market share in the three months to September, said Bill Hornbuckle, chief executive and president of its parent, MGM Resorts International (NYSE: MGM).

  • Speaking on Wednesday during the United States-based group’s call to discuss third-quarter earnings, Mr Hornbuckle said MGM China’s Macau gaming market share reached 19.2 percent in September, taking its third-quarter share to a record 17.1 percent.

  • “These trends have continued into the fourth quarter with strong October performance thus far,” he stated. “While the [Macau] market remains competitive, we are focused on our operations, and the execution is paying off.”

🇲🇴 MGM Resorts, People Inc agreed on takeover price before bid collapse: MGM CEO (GGRAsia)

  • Casino group MGM Resorts International (NYSE: MGM) and its largest shareholder, People Inc, had reached an agreement on the price of a proposed takeover before the latter withdrew its offer, according to MGM Resorts’ president and chief executive, Bill Hornbuckle.

  • Speaking during the Wednesday conference call to discuss the casino group’s third-quarter results, Mr Hornbuckle said People Inc had been unable to assemble an investor syndicate to proceed with the proposed acquisition.

  • “People [Inc] and the MGM Resorts special committee came to terms on price, but in the end, People [Inc] was unable to assemble a syndicate that met their objective and then withdrew their offer,” he stated.

🇹🇼 TSMC: The Cracks Are Showing (Seeking Alpha) $ 🗃️

🇹🇼 TSMC: Spending Its Lead To Keep It (Seeking Alpha) $ 🗃️

🇹🇼 TSMC: The Toll Road Of The AI Economy Is On Sale (Seeking Alpha) $ 🗃️

🇹🇼 Why TSMC’s Q3 2026 Results Highlight Pitfalls In The AI Hype (Seeking Alpha) $ 🗃️

🇹🇼 Taiwan Semiconductor Manufacturing Company Limited 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇹🇼 TSMC: Not Slowing Down (App Economy Insights)

  • The AI boom has a debt problem

  • Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE: TSM) is investing at a scale few companies can match. Its CapEx budget has climbed from $41 billion in 2025 to $60–$64 billion in 2026, with cumulative spending over 2026–2028 expected to substantially exceed the previous three years.

🇹🇼 ASE Technology Holding Co., Ltd. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇹🇼 AUO Corporation 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🌐 AUO Corp (TPE: 2409 / FRA: AU7 / OTCMKTS: AUOTY) – Display-centric technology (smart mobility, industrial intelligence, energy, retail, healthcare, enterprise & education). Taiwan, Asia, US & Europe. 🇼 🏷️

🇰🇷 KRX Announces a List of 151 Low PBR Stocks To “Name and Shame” And Improve Corporate Governance (GGRAsia)

  • KRX announced a list of 151 listed companies (96 in KOSPI and 55 on KOSDAQ) with low PBR ratios to “name and shame” them and to improve their corporate governance.

  • These 151 companies had an average PBR of approximately 0.25x, significantly below the overall domestic market average of 1.8x.

  • These 151 companies are now targeted by the KRX to improve their corporate governance and core business operations so this could potentially be a positive catalyst on their share prices.

  • In the near term, the quickest bang for the buck will be to use their balance sheets (most of them have strong balance sheets) to sell non-core assets and provide higher shareholder returns.

  • Many of the top corporate activists that are operating in Korea are looking at some of these companies intently in order to unlock greater value in the next several years.

🇰🇷 Kangwon Land Inc sets US$2.26bln revenue goal in strategy revamp (GGRAsia)

  • South Korean casino operator Kangwon Land (KRX: 035250) has approved a revised management strategy under new chief executive Kim Do-kyun, including a company-wide revenue target of KRW3.00 trillion (US$2.26 billion).

  • The company said in a Tuesday press release that its board had approved its 2027-2031 medium- to long-term management objectives at a meeting the day before.

  • The new plan involves restructuring the existing 2030 management strategy framework to align with one extending toward 2035. It involves a comprehensive overhaul of the company’s vision, core values, management objectives, and strategic initiatives, per the announcement.

🇰🇷 Update on CPNG: It’s Still Not Cheap. (Elliot’s Musings)

  • A scorecard on my 2024 calls, what actually broke the stock, and the Q3 numbers to grade it against

  • In August 2024 I wrote that Coupang (CPNG) [Coupang, Inc. (NYSE: CPNG)] looked fairly priced at a $38B enterprise value, that a reasonable range was $20 to $30 a share, and that a conservative investor should wait for something under $17. The stock closed at $14.27 on Friday. It’s 16% below the price I said I’d pay and 57% below the $33.53 it reached in September 2025, so it’s time to check whether the discipline was worth anything.

  • A lot happened in between. In November 2025 a former employee accessed about 33 million customer accounts. Coupang responded with a 1.685T won (~$1.2B face value) voucher program; regulators followed with a ~$410M fine from the privacy commission (PIPC). Product Commerce went from growing 18% in constant currency with an 8.8% adjusted EBITDA margin in Q3 2025 to growing 5% at a 5.0% margin two quarters later. Management’s message on the Q2 call in August was that this is a dent, not a crack.

🇰🇷 SK Hynix’s 80% Margin Answers 2027. Its Contract Price Band Will Answer 2029. (Korea Invest Insights)

  • SK Hynix (KRX: 000660 / NASDAQ: SKHY) earned ₩83.3tn in Q3, an 80% margin, yet trades near 3x 2027 earnings and at half its June high. Over half of 2027–28 capacity is under contract. The undisclosed price floor decides the rest.

🇰🇷 SK Hynix 3Q 2026 Earnings Preview (Douglas Research Insights) $

  • Consensus estimates SK Hynix (KRX: 000660 / NASDAQ: SKHY) to generate sales of 98.2 trillion won (up 302.6% YoY) and operating profit of 77 trillion won (up 456.5% YoY) in 3Q 2026.

  • SK Hynix is trading at deeply attractive valuations. It is trading at EV/EBITDA of 2.8x (2026E), 1.3x (2027E), and 0.6x (2028E) based on consensus earnings estimates.

  • SK Hynix’s higher share price (up nearly 10% in the past week) is probably reflecting renewed positive sentiment post announcement SK Hynix will not pursue a NASDAQ listing of Solidigm.

🇰🇷 SK Hynix: Beats Consensus Sales and OP in 3Q26 + 100 Trillion Won in Shareholder Returns in 2026 (Douglas Research Insights) $

  • According to SK Hynix (KRX: 000660 / NASDAQ: SKHY), its DRAM and HBM production capacity is effectively fully booked for next three years.

  • SK Hynix posted better than expected sales and operating profit in 3Q26. It had OP of 83.3 trillion won (up 502.3% YoY and 8.2% higher than consensus) in 3Q 2026.

  • SK Hynix plans to return 100 trillion won to shareholders this year. This includes a recently completed 40 trillion won buyback, alongside an additional 60 trillion won in shareholder returns.

🇰🇷 KB Financial: A ‘Buy’ After Q3 Earnings Beat (Seeking Alpha) $ 🗃️

🇰🇷 KB Financial Group Inc. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇰🇷 Samsung Electronics Co., Ltd. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇰🇷 Samsung Electronics: Key Highlights from the 3Q 2026 Earnings Conference Call (Douglas Research Insights) $

  • Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) did not provide further details of its shareholder returns for 2026. This was the biggest disappointment of the 3Q 2026 conference call.

  • Samsung plans to distribute the remaining 55 to 75 trillion won by a combination of share buybacks/cancellations and dividends and the official announcement will be made in late January 2027.

  • Samsung also mentioned that “it recognizes the growing market interest in the price gap between common and preferred shares.”

🇰🇷 Why Is Samsung Delaying in Providing Full Details of 2026 Shareholder Returns? Stock Incentives? (Douglas Research Insights) $

  • Why is Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) delaying in providing the full details of its shareholder returns in 2026?

  • Although we are not privy to all the details of Samsung’s BOD discussions, I believe that one of the reasons for this delay may be related to stock incentives.

  • This is critically important since if Samsung Electronics’ employees own mostly common shares only, instead of preferred shares, then there would be less incentive to prop up the preferred shares.

🇰🇷 Woori Financial Group Inc. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇰🇷 Shinhan Financial Group Co., Ltd. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇰🇷 LG Display: Consider Both Q3 Miss And Longer-Term Catalysts (Seeking Alpha) $ 🗃️

🇰🇷 Tender Offers for Gabia and KINX by Macquarie Asset Management (Douglas Research Insights) $

  • On 28 October, Macquarie Asset Management announced that it is launching a new and improved tender offers for Gabia Inc (KOSDAQ: 079940) and KINX (KOSDAQ: 093320).

  • I have positive views on both tender offers of Gabia and KINX by Macquare. This is exactly how the “Corporate Value Up program” in Korea is supposed to work.

  • The tender offer price for KINX (190,000 won) is especially favorable (58% higher than the closing price on 27 October – 120,400 won).

🇰🇷 LG Chem Is Selling 2.5 Trillion Won Worth of LG Energy Solution Through PRS: Overhang Concerns Ahead (Douglas Research Insights) $

  • On 28 October, LG Chem (KRX: 051910 / 051915) – Parent of LG Energy Solution (KRX: 373220) announced that it is selling 2.5 trillion won worth of shares in its subsidiary LG Energy Solution through a PRS arrangement.

  • The move could negatively affect LGES by increasing potential share supply, while benefiting LG Chem through improved balance-sheet flexibility and greater capacity for shareholder returns.

  • Recurring use of PRS (4.5 trillion won in two years) signals an overhang on LGES as LG Chem plans to sell additional 6-7% stake in LG Energy Solution until 2030.

🇰🇷 A Merger Between Sempio Foods and Sempio Co (Douglas Research Insights) $

  • After the market close on 30 October, it was reported that Sempio Foods Co (KRX: 248170) plans to merge with Sempio Co (KRX: 007540).

  • Sempio Foods is best known for its soy sauce which is one of the most recognized soy sauce brands in Korea.

  • I have a positive view of this merger. Sempio Foods and Sempio Co are too small to keep them separately and there are operational synergies with combining the two companies.

🇰🇷 JNTG IPO Valuation Analysis (Douglas Research Insights) $

  • My base case valuation of JNTG (450550 KS) is target price of 49,627 won per share, which is 56% higher than the high end of the IPO price range.

  • JNTG is a Korean manufacturer of specialised carbon-based materials used across energy storage, hydrogen utilisation and hydrogen production.

  • Its products serve applications ranging from non-lithium secondary battery energy storage systems (ESS) to hydrogen fuel cells and water electrolysis.

🇮🇩 Indonesia: Crisis Investing at Its Best (TheOldEconomy Substack) $

  • Market Overreaction Backed by Robust Fundamentals

  • So far, Indonesia offers bottom-fish multiples and solid fundamentals. How does Indonesia compare to its neighbors?

🇮🇩 PT Indosat Tbk 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇮🇩 PT Bank Negara Indonesia (Persero) Tbk 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇭 Manila Electric Company 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇭 Bank of the Philippine Islands 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇸🇬 China Yuchai: A Second Buying Opportunity, But A Different Investment Thesis (Seeking Alpha) $ 🗃️

🇸🇬 China Yuchai International: Worth A Bet Despite The Recent Decline (Seeking Alpha) $ 🗃️

🇸🇬 Mapletree Industrial Trust 2027 Q2 – Results – Earnings Call Presentation (Seeking Alpha)

🇸🇬 ASMPT Limited 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇸🇬 CapitaLand China Trust 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇨🇳 CapitaLand China Trust (SGX: AU8U / OTCMKTS: CLDHF) – Singapore’s largest China-focused REIT. Retail, office & industrial (business parks, logistics facilities, data centres & integrated developments). 🇼 🏷️

🇸🇬 Grab Holdings: The SuperApp of Southeast Asia (Fiscal.ai)

  • Today we’re taking a look at Southeast Asia’s super app, Grab.

  • Let’s dive in!

  • As Grab Holdings Limited (NASDAQ: GRAB)’s mobility and delivery marketplaces have grown, they’ve shown consistent profit margin improvement. As the business continues to grow throughout its respective markets, investors should continue to witness further margin expansion.

🇸🇬 Is Monee Really Profitable? Are We Underestimating Shopee’s Profitability? And Why Would Spin-off Monee make sense? (Contrarian Perspectives)

[Sea Limited (NYSE: SE)]

  • Rethinking Monee as a standalone business

  • A few days ago I shared my thoughts on the 9th IPO anniversary memo. If you haven’t read it, please do.

  • This article will focus on why Monee may need to IPO — or, in other words, why it might be reasonable to sell off part of the business for a few billion dollars.

🇸🇬 Top 3 SGX Blue Chips Rewarding Investors in November 2026 (The Smart Investor)

  • Three STI blue chips pay dividends in November 2026, but investors should look beyond payment dates to assess the sustainability of future payouts.

    • Can SGX keep raising its dividend?

    • Can FCT keep its record DPU?

      • Frasers Centrepoint Trust (SGX: J69U / OTCMKTS: FRZCF), or FCT, is Singapore’s largest suburban retail mall owner.

      • For the fiscal year ended 30 September 2026 (FY2026), gross revenue rose 14.2% YoY to S$444.9 million, while net property income (NPI) grew 15.7% to S$321.7 million.

    • Is Keppel DC REIT’s DPU growth here to stay?

      • Keppel DC REIT (SGX: AJBU / OTCMKTS: KPDCF) owns 27 data centres across 10 countries, with Asia Pacific making up 87.4% of the portfolio.

      • For context, the REIT’s latest numbers cover the first nine months of 2026 (9M2026), not a full year.

    • Get Smart: Separate what repeats from what doesn’t

🇸🇬 Sheng Siong (SSG): Low SSSG and High PEG (Smartkarma) $

🇸🇬 3 Hidden Gem Stocks to Watch in November (The Smart Investor)

  • Elite UK REIT, UOI and UHREIT issue business updates in the first half of November. Their first-half headlines told only part of the story. Here is what to watch in each update.

    • Can Elite UK REIT turn a stronger balance sheet into steady DPU growth?

      • Elite UK REIT (SGX: MXNU) owns 148 commercial properties across the UK, valued at £488.8 million on a pro forma basis as at 30 June 2026.

      • Crucially, UK government tenants occupy more than 99% of the portfolio under long-term triple-net leases.

    • Will UOI’s underwriting gains outlast a shrinking top line?

      • United Overseas Insurance (SGX: U13 / FRA: IZB), or UOI, is a Singapore-based general insurer within the United Overseas Bank (UOB) group.

      • Its 1H2026 numbers pulled in opposite directions.

    • Can UHREIT’s acquisitions keep DPU growth ahead of a bigger unit base?

      • United Hampshire US REIT (SGX: ODBU / OTCMKTS: UNHRF), or UHREIT, owns 21 grocery-anchored and necessity-based retail properties in the US, along with two self-storage properties, valued at US$798.5 million.

      • In 1H2026, gross revenue rose 5.8% YoY to US$37.8 million, while NPI grew 6.4% to US$25.5 million.

    • Get Smart: Read the update against the half-year results

🇸🇬 November 2026: 3 Temasek-Linked Blue Chips to Watch (The Smart Investor)

  • Three Temasek-linked blue chips report results in early November as Middle East tensions create different challenges for each company. Here’s what investors should watch.

  • Can CapitaLand Investment keep its fee engine running?

  • Will fuel costs weigh on SIA’s next dividend?

    • Singapore Airlines (SGX: C6L / FRA: SIA1 / OTCMKTS: SINGY / SINGF), or SIA, runs Singapore Airlines and low-cost carrier Scoot.

    • It also owns 25.1% of the Air India Group.

    • SIA isn’t short of customers.

  • Can SATS turn volume growth into cash?

  • Get Smart: Pick your number before the results arrive

🇸🇬 5 Singapore Stocks Paying Dividends Above 5%: Are They Worth Buying? (The Smart Investor)

  • Dividend yields above 5% can be attractive to Singapore income investors, but a high payout does not always mean a good investment.

    • Latest Dividend / Distribution Per Unit

    • Venture Corporation (SGX: V03 / FRA: VEM / OTCMKTS: VEMLF) – The Blue-Chip Income Play

      • At around S$15, Venture’s shares are about 20% below its 52-week high of S$18.75 and offer a trailing dividend yield of 5.3%.

      • The electronics manufacturer has paid an annual dividend since 1992.

      • Its ordinary dividend has held at S$0.75 since FY2021.

    • CapitaLand Integrated Commercial Trust (SGX: C38U / OTCMKTS: CPAMF), or CICT – The Defensive High Yielder

      • In the third quarter of 2026 (3Q2026), Singapore’s largest real estate investment trust (REIT) continued to report stable overall portfolio occupancy at 96.1% while enjoying healthy rental reversions for its retail and office assets.

    • ComfortDelGro Corporation (SGX: C52 / FRA: VZ1 / VZ10 / OTCMKTS: CDGLF / CDGLY) – High Yield, But Earnings Are Pressured

      • At roughly S$1.27, ComfortDelGro’s trailing yield stands at 6.7%, given it paid S$0.085 per share in dividends.

    • United Hampshire US REIT (SGX: ODBU / OTCMKTS: UNHRF), or UHREIT – The High-Yield REIT

      • At US$0.43, UHREIT yields 10.4% given the US$0.0446 in distributions over the last year.

      • Part of the elevated yield is due to a sell-off from its 52-week high of US$0.57 on 26 February 2026.

    • Coliwoo Holdings (SGX: W8W) – The Contrarian Income Opportunity

      • Colliwoo’s shares trade at around S$0.35, below its listing price of S$0.60 in November 2025.

      • At that price, the S$0.03 in dividends paid over the past year translates into an 8.6% yield.

      • Operationally, the co-living business is faring well.

    • Are 5%+ Yields Sustainable?

    • Get Smart: Look Beyond the 5% Yield

🇸🇬 3 SGX Dividend Stocks Rewarding Investors in November 2026 (The Smart Investor)

  • Three SGX dividend stocks are rewarding shareholders in November 2026, but their very different cash flows and balance sheets reveal how sustainable each payout may be.

    • Can Micro-Mechanics fund its growth and its dividend at the same time?

      • Micro-Mechanics (Holdings) Ltd (SGX: 5DD / OTCMKTS: MCRNF) makes precision tools and parts used in semiconductor manufacturing.

      • In the financial year ended 30 June 2026 (FY2026), revenue rose 15.8% year on year (YoY) to S$75.5 million.

    • Can Tiong Woon sustain a 43% dividend increase?

      • Tiong Woon Corporation Holding Ltd (SGX: BQM) is an integrated heavy-lift specialist, with crane and transport hire making up 96% of its revenue.

      • In FY2026, revenue rose 15% YoY to S$187.7 million, and profit attributable to shareholders grew 24% YoY to S$23.9 million.

    • Why did Tai Sin hold its dividend when profit more than halved?

      • Tai Sin Electric Ltd (SGX: 500) makes and distributes electrical cables and wires across Southeast Asia.

      • In November 2025, it bought Integra R.E., a renewable energy equipment distributor.

      • In FY2026, Tai Sin’s revenue climbed 24.2% YoY to S$597.2 million.

    • Get Smart: Ask where the cash came from

🇸🇬 3 SGX Blue Chips Offering 6.5%+ Dividend Yields (The Smart Investor)

  • Three SGX blue chips offer dividend yields above 6.5%, but investors should look beyond the headline yield to understand what is funding each payout.

    • Dividend / Distribution Yield

    • Can MLT hold its DPU while it sells assets?

      • MLT owns 172 logistics properties across nine Asia-Pacific markets, with assets under management of S$13.1 billion as at 30 September 2026.

      • In the second quarter of its fiscal year ending 31 March 2027 (2QFY2027), MLT grew gross revenue 1.4% year on year (YoY) to S$180.0 million.

    • Can Genting’s cash reserve carry the dividend?

      • Genting Singapore owns and operates Resorts World Sentosa (RWS), one of Singapore’s two integrated resorts.

      • For the first half of 2026 (1H2026), gaming revenue slipped 0.9% YoY to S$804.4 million.

    • Will FLCT’s new warehouses pay for the debt behind them?

      • FLCT owns 114 logistics, industrial and commercial properties across Australia, Germany, the Netherlands, the UK and Singapore, with assets under management of S$7.1 billion.

      • For context, FLCT reports financials only half-yearly.

    • Get Smart: Trace the cash before you trust the yield

🇸🇬 3 SGX Dividend Stocks to Watch as the STI Dips (The Smart Investor)

  • Three SGX dividend stocks raised their payouts in 1H2026 as the STI pulled back, but investors should examine what is funding those dividends before buying.

    • Can Union Gas keep paying more as it adds stations?

      • Union Gas Holdings Ltd (SGX: 1F2) distributes gas fuels and runs Cnergy service stations.

      • Its profit attributable to shareholders rose 175.8% year on year (YoY) to S$12 million.

      • The board could have lifted the regular dividend to match.

      • It didn’t; instead, it held the interim dividend steady and paid a special dividend instead:

    • Is Nanofilm’s bigger dividend backed by lasting cash flow?

      • Nanofilm Technologies (SGX: MZH / OTCMKTS: NNFTF) makes advanced materials coatings and nanofabricated products.

      • It doubled its interim dividend to S$0.006 per share on the back of a 65.6% YoY surge in net profit to S$4.3 million.

      • While that percentage jump looks impressive, it comes off a relatively small base from the prior period.

      • Cash flow told a bigger story.

    • What does ValueMax’s borrowing mean for its dividend?

      • Valuemax Group (SGX: T6I) runs pawnbroking and secured moneylending businesses, and retails and trades gold and jewellery.

      • It raised its interim dividend 15% YoY to S$0.0138 per share, which was paid out on 3 September 2026.

    • Get Smart: Trace the cash before you buy the dip

🇸🇬 SGX Next 50: Top 3 REITs to Watch This Week (The Smart Investor)

  • Keppel REIT, Starhill Global REIT and Lendlease Global Commercial REIT report this week after reshaping their portfolios, but bigger portfolios do not always mean higher distributions.

  • Keppel REIT (SGX: K71U / OTCMKTS: KREVF), Starhill Global Real Estate Investment Trust (SGX: P40U / OTCMKTS: SGLMF) and Lendlease Global Commercial REIT (SGX: JYEU / OTCMKTS: LLGCF) report between 28 and 30 October 2026.

  • Two of them went shopping for assets.

  • The third mostly sat tight.

    • Keppel REIT: Will a bigger portfolio start paying more per unit?

      • Keppel REIT owns 14 prime commercial assets across Singapore, Australia, South Korea and Japan, with assets under management (AUM) of S$11.8 billion as at 30 June 2026.

      • Keppel REIT’s purchases lifted its first-half 2026 (1H2026) numbers.

    • Starhill Global REIT: Can new luxury tenants restart Wisma Atria’s sales?

      • Starhill Global REIT, or SGREIT, owns nine predominantly retail properties across six Asia-Pacific cities, with a total portfolio valuation of around S$2.7 billion as at 30 June 2026.

      • SGREIT is the quiet one of the trio.

    • Lendlease Global Commercial REIT: How much growth is left once PLQ Mall is in the base?

      • Lendlease Global Commercial REIT, or LREIT, owns Jem, 313@somerset and PLQ Mall in Singapore, plus three Grade A commercial buildings in Milan.

      • LREIT sold Jem’s office component and bought PLQ Mall in two tranches, completed in November 2025 and March 2026.

    • Get Smart: Follow the growth down to your units

🇸🇬 CapitaLand REITs Q3 2026 Updates: What Singapore Investors Need to Know (The Smart Investor)

  • CLAR, CICT and CLINT released their 3Q2026 updates in October, giving Singapore investors fresh insight into portfolio performance, growth plans and future DPU potential.

  • In October 2026, three major CapitaLand-managed trusts – CapitaLand Ascendas REIT (SGX: A17U / OTCMKTS: ACDSF), or CLAR, CapitaLand Integrated Commercial Trust (SGX: C38U / OTCMKTS: CPAMF), or CICT, and CapitaLand India Trust (SGX: CY6U / OTCMKTS: ACNDF), or CLINT – released their third-quarter (3Q2026) business updates.

  • Since all three trusts report full financial results on a half-yearly basis, these updates did not declare distributions per unit (DPU).

    • CLAR: Active Capital Recycling and Steady Operational Gains

      • CLAR holds an impressive portfolio of 236 properties valued at S$20.7 billion as at 30 September 2026.

      • In its 3Q2026 business update, CLAR did not disclose revenue or net property income (NPI), but operational metrics showed solid improvement.

    • CICT: Major Portfolio Moves Drive Top-Line Growth

      • CICT is Singapore’s largest REIT, holding a S$28.7 billion portfolio across 25 retail, office, and integrated development properties.

      • For 3Q2026, gross revenue jumped 15.0% year on year (YoY) to S$464.5 million, while NPI rose 13.8% to S$334.9 million.

    • CLINT: Local Operational Strength Tempered by Currency Headwinds

      • CLINT is a business trust that owns IT parks, industrial facilities, a logistics park and a data centre across five Indian cities, totalling 22.0 million square feet of completed space.

      • In Singapore dollar terms, gross revenue for 9M2026 fell 8% YoY to S$206.4 million, while NPI declined 6% to S$161.3 million.

    • Get Smart: Active Management Keeps the Engine Running

🇸🇬 3 Hidden Gem Stocks That Just Reported Their Latest Results (The Smart Investor)

  • Micro-Mechanics, Info-Tech Systems and Digital Core REIT reported their latest results, with revenue and profit trends offering clues about their underlying business performance.

    • Micro-Mechanics (Holdings) Ltd (SGX: 5DD / OTCMKTS: MCRNF) posts a record quarter

      • Micro-Mechanics makes precision consumable tools and parts used in semiconductor manufacturing.

      • For 1QFY2027 ended 30 September 2026, revenue rose 45.0% year on year (YoY) to an all-time quarterly high of S$24.2 million, while net profit more than doubled, climbing 102.8% to S$6.4 million.

    • Info-Tech Systems (SGX: ITS) delivers steady revenue growth

      • Info-Tech Systems is a software-as-a-service provider offering cloud-based human resource management, accounting, and CRM software to over 28,000 businesses across five countries.

      • For the first nine months of 2026 (9M2026), revenue rose 20% YoY to S$42.6 million, with third-quarter revenue climbing 18% to S$15.3 million.

    • Digital Core REIT (SGX: DCRU / OTCMKTS: DGTCF) positions itself for growth

      • Digital Core REIT is a pure-play data centre REIT holding 11 freehold data centres with US$1.9 billion in assets under management as of 30 September 2026.

      • For 9M2026, revenue edged up 1.6% to US$134.5 million, but net property income (NPI) fell 4.3% to US$64.8 million, and distributable income slipped 1.1% to US$34.8 million.

    • Get Smart: Find the number that pays the dividend

🇸🇬 Top 6 Temasek-Linked Blue-Chip Stocks to Watch This Week (The Smart Investor)

  • Three Temasek-linked blue-chip S-REITs report this week, with CICT, CLAR and MPACT in focus as investors assess DPU growth and distribution sustainability.

    • Can CapitaLand Integrated Commercial Trust (SGX: C38U / OTCMKTS: CPAMF) keep its DPU growth ahead of growth in its unit base?

      • CICT is Singapore’s largest REIT by market capitalisation.

      • It owns retail, office and integrated development properties, with total assets of S$28.2 billion as at 30 June 2026.

      • For the first half of 2026 (1H2026), gross revenue rose 7.5% year on year (YoY) to S$846.8 million, while net property income (NPI) climbed 8.7% to S$630.5 million.

    • When will CapitaLand Ascendas REIT (SGX: A17U / OTCMKTS: ACDSF)’s income growth reach unitholders?

      • CLAR is a diversified industrial REIT with 234 properties across Singapore, Australia, the US, the UK/Europe and Japan, and a portfolio valued at S$20.1 billion as at 30 June 2026.

      • In 1H2026, gross revenue rose 6.7% YoY to S$805.5 million, and NPI grew 6.2% to S$556.1 million.

    • Can VivoCity keep carrying Mapletree Pan Asia Commercial Trust (SGX: N2IU / OTCMKTS: MPCMF)?

      • MPACT owns 15 commercial properties across Singapore, Hong Kong, China, Japan and South Korea, with assets under management of S$15.2 billion as at 30 June 2026.

      • Its latest figures cover just one quarter, the first quarter of the fiscal year ending 31 March 2027 (1QFY2027).

    • Get Smart: Look past the headline total

🇸🇬 3 Temasek-Backed Blue-Chip S-REITs Offering 6.5%+ Distribution Yields (The Smart Investor)

  • Three Temasek-backed S-REITs yield more than 6.5%, but the highest yield does not necessarily mean the best investment. Here’s how their DPU growth compares.

    • Distribution Yield

    • Why didn’t CLAR’s income growth reach unitholders?

      • CapitaLand Ascendas REIT (SGX: A17U / OTCMKTS: ACDSF), or CLAR, owns 234 properties across Singapore, Australia, the US, the UK/Europe and Japan.

      • CLAR reports half-yearly.

    • How long can lower interest costs protect MPACT’s DPU?

    • Can Singapore hold up MIT while it trims North America?

      • Mapletree Industrial Trust (SGX: ME8U / OTCMKTS: MAPIF), or MIT, owns 135 properties across Singapore, North America and Japan.

      • It offers the highest yield of the three, and its DPU has fallen the most.

    • Get Smart: What filled the gap?

🇸🇬 StarHub vs Singtel: Which Singapore Telco Is the Better Dividend Stock? (The Smart Investor)

  • StarHub (SGX: CC3 / FRA: RYTB / OTCMKTS: SRHBY / SRHBF) and Singapore Telecommunications Ltd (SGX: Z74 / FRA: SIT / SIT4 / OTCMKTS: SGAPY / SNGNF) or Singtel are two familiar names among Singapore dividend investors, but which offers more reliable income and better long-term growth potential?

    • StarHub vs Singtel: Two Different Business Models

      • StarHub primarily serves the Singapore market.

      • It sells mobile, broadband and pay-TV plans, and also offers companies services like managed IT and cybersecurity.

      • In contrast, Singtel is a diversified business.

      • Singtel owns Singtel Singapore and Optus in Australia, plus stakes in associate telcos such as Bharti Airtel in India, AIS in Thailand, and Globe in the Philippines.

    • Which Telco Has the Stronger Financial Performance?

    • Which Company Offers the Better Dividend?

    • What Could Drive Future Growth?

    • StarHub vs Singtel: Which Stock Offers Better Value?

    • What Are the Biggest Risks for Dividend Investors?

    • Get Smart: Which Telco Would I Buy for Dividends?

🇸🇬 SGX Shares Have Been a Big Winner: Is It Still a Buy Today? (The Smart Investor)

  • Singapore Exchange Limited (SGX: S68 / FRA: SOU / SOUU / OTCMKTS: SPXCF / SPXCY) shares have delivered impressive returns, supported by stronger trading activity and growing investor interest in Singapore stocks. But after their rally, is SGX still attractively valued?

    • What is Driving SGX’s Earnings Surge?

    • Is SGX’s Business Getting Stronger?

    • Can SGX Continue Growing Its Dividends?

    • Is SGX Still Attractively Valued After Its Rally?

    • What Could Go Wrong for SGX?

    • Conclusion – Get Smart: Is SGX Still Worth Buying?

🇸🇬 Is Venture Corporation’s Cash-Rich Dividend Payout Plan Sustainable? (The Smart Investor)

  • Venture Corporation’s cash-rich balance sheet has supported decades of dividends, but investors should ask whether its earnings and free cash flow can sustain the payout.

  • Venture Corporation (SGX: V03 / FRA: VEM / OTCMKTS: VEMLF) is an established Singapore electronics manufacturer.

  • The company has paid a dividend every year since its listing in 1992.

    • Venture Corporation Dividend History

    • How Strong Is Venture’s Cash Position?

    • Can Venture’s Earnings Support Its Dividends?

    • Free Cash Flow: The Real Test of Dividend Sustainability

    • What Could Support Venture’s Future Dividend Growth?

    • Is Venture Still an Attractive Dividend Stock at Today’s Price?

    • Get Smart: Cash Reserves Buy Time, but Earnings Sustain Dividends

🇹🇭 PTT Global Chemical Public Company Limited (PCHUY) Shareholder/Analyst Call – Slideshow (Seeking Alpha)

🇹🇭 The Siam Cement Public Company Limited 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇹🇭 TISCO Financial Group Public Company Limited 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇮🇳 MakeMyTrip Limited 2027 Q2 – Results – Earnings Call Presentation (Seeking Alpha)

🇮🇳 JSW Steel’s New Growth Equation: Record Volumes, But Thinner Spreads (Smartkarma) $

[JSW Steel Ltd (NSE: JSWSTEEL / BOM: 500228)]

  • Record sales of 7.46 mt lifted adjusted EBITDA to Rs. 9,941 crore, even as EBITDA per tonne fell 11% sequentially.

  • Higher volumes are absorbing cost inflation, but the Rs. 1.48 lakh crore remaining capex pipeline raises execution and cash-flow stakes.

  • Deleveraging supports growth optionality; the next valuation catalyst is a recovery in unit economics, not record tonnage alone.

🇮🇳 Sona BLW: EV Growth Acceleration & 10x Growth in Robotics, Humanoid for Next Decade (Smartkarma) $

[Sona BLW Precision Forgings (NSE: SONACOMS / BOM: 543300)]

  • BEV revenue surged 129%, supported by stronger customer demand and wallet-share gains; traction-motor sales grew almost 50% sequentially.

  • Management retained its 23–25% margin range, With faster traction-motor growth and entry into high-growing humanoid business.

  • H1 free cash flow reached ₹445.6 crore, while DENSO partnerships, railway products and robotics extend the growth opportunity.

🇮🇳 Paytm’s Core Turnaround: Real EBITDA Growth. (Smartkarma) $

[One 97 Communications Ltd. (NSE: PAYTM / BOM: 543396)]

  • Excluding PIDF incentives, revenue rose 33% and EBITDA increased 279%, showing stronger operating momentum than the reported growth rates suggest.

  • Financial services now contributes over one-third of revenue, but materially higher default loss guarantee costs will test Q3 earnings resilience.

  • UPI MDR offers meaningful upside, while exceptional-item comparisons and continuing device investment require a careful reading of profit and cash generation.

🇮🇳 Ather Energy: First Quarterly Profit, Now Bigger Execution Test! (Smartkarma) $

  • Ather Energy Ltd (NSE: ATHERENERG / BOM: 544397) reported its first quarterly profit as revenue growth, richer realisations and operating leverage offset persistent commodity pressure.

  • Other income supported reported profitability, while supply constraints helped Ather prioritise higher-margin variants and limit incentives.

  • Capacity expansion and Konarc offer the next growth opportunity, but installation timelines, demand conversion and sustainable margins will determine earnings durability.

🇮🇳 APL Apollo Tubes: Record Profits Put the ₹6,000-Per-Tonne Run Rate to the Test (Smartkarma) $

  • Record EBITDA rose 29% despite 13% volume growth, as domestic branded tubes and roofing offset sharply weaker UAE sales.

  • EBITDA per tonne reached INR 5,999 even as gross profit per tonne declined sequentially, making operating leverage central to earnings sustainability.

  • FY27 guidance requires only a modest improvement over Q2’s sales pace; the INR 3,000 crore FY28 EBITDA ambition remains dependent on UAE recovery.

🇮🇳 Jio Platforms: Path to Nifty Indices (Smartkarma) $

  • Jio Platforms Ltd (NSE: JPL / BOM: 545004) listed on NSE on 28 Oct 2026. We assess its path into three NIFTY indices.

  • We build its FF from exchange filings, then apply each index test and the single-stock F&O rules.

  • Size and turnover set the Nifty 500 and Nifty 100 timing. For the Nifty 50, F&O sets the timing and FF decides entry.

🇮🇳 Vishakha Renewables IPO: A Solar Glass Bet With the Adani Group Next Door (Smartkarma) $

  • Vishakha Renewables, co-promoted by the Vishakha Group and Adani Group entities, filed its DRHP on September 30, 2026 for a Rs. 1,250 crore fresh issue plus an offer for sale.

  • It offers listed market exposure to four solar module components and a tripling of solar glass capacity, but also carries heavy debt and high dependence on Adani linked customers.

  • The investment case rests on whether Mundra expansion and third party customer wins arrive before leverage and concentration start to bite.

🇰🇿 Kaspi.kz: 14% Earnings Yield With Türkiye Upside For Free (Seeking Alpha) $ 🗃️

  • 🇰🇿 KASPI (NASDAQ: KSPI / LON: 80TE / FRA: KKS) – Payments Platform, Marketplace Platform & Fintech Platform. 🇼

🇰🇿 Kaspi Q2 2026: Still a Buy After Earnings? (Burn The Index)

  • Results and thesis check

  • KASPI (NASDAQ: KSPI / LON: 80TE / FRA: KKS) reiterated its FY 2026 guidance. The company continues to expect GMV growth of approx. 20%, TPV growth of around 15%, average net loan portfolio growth of approx. 15%, and adjusted EBITDA growth of around 5%.

  • A key driver for the remainder of the year will be the 100 bps reduction in interest rates on the 3-month deposit product in August. Management expects the resulting benefit from lower funding costs to begin flowing through to earnings toward the end of 2026, with the positive impact continuing into 2027.

🇮🇱 Teva: I Still See Upside After A Massive Rally (Seeking Alpha) $ 🗃️

🇮🇱 Elbit Systems: A 28% Pullback, But The Valuation Still Demands Exceptional Execution (Seeking Alpha) $ 🗃️

🇮🇱 Tower Semiconductor: Management’s Confidence Is Infectious (Seeking Alpha) $ 🗃️

🇮🇱 Tower Semiconductor: The Start Of A Multi-Year Growth Cycle (Seeking Alpha) $ 🗃️

🇹🇷 Arçelik Anonim Sirketi 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇹🇷 Akbank T.A.S. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇹🇷 TAV Havalimanlari Holding A.S. (TAVHY) Analyst/Investor Day – Slideshow (Seeking Alpha)

🇦🇪 Yalla Group Q3 2026 Preview: Gaming Momentum Vs. Macro Overhang (Seeking Alpha)

🇿🇦 Pick n Pay Stores Limited 2027 Q2 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🌍 Pick ‘n Pay (JSE: PIK / FRA: PIK) – Leading South African retailer. Stores in South Africa, Namibia, Botswana, Zambia, Swaziland & Lesotho + owns a 49% share of Zimbabwean chain TM Supermarkets. 🇼 🏷️

🇿🇦 Datatec Limited 2027 Q2 – Results – Earnings Call Presentation (Seeking Alpha)

🇿🇼 Caledonia Mining: Blanket Setbacks Weaken My Bullish Thesis (Rating Downgrade) (Seeking Alpha) $ 🗃️

🇬🇷 Piraeus Financial Holdings S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇱 mBank S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇱 mBank S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇵🇱 mBank SA (WSE: MBK / FRA: BRU / OTCMKTS: MBAKF) – First Internet bank in Poland. Retail, corporate & investment banking + other financial services. 🇼 🏷️

🇵🇱 KRUK Spólka Akcyjna 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇱 Alior Bank S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇱 Orange Polska S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇷🇺 Russia three years on – Macro Musings (Part 2) (Pyramids and Pagodas)

  • Where the discount lands: household savings, housing, fees and the cost of settlement

  • Moscow did not look like a capital under pressure this summer. The restaurants were full, prime real estate was transacting in cash, and the consumption boom was visible on the streets.

  • In Part 1, we looked at the top of the market, where titles are set and exits are priced. If commercial success carries that kind of title risk, Moscow ought to look poorer than it does. We go to the street to see where the condition is being absorbed and follow the discount through household savings, elite capital, advisory fees, and the cost of cross-border settlement.

🌎 Mapping the region’s ideological landscape – October 2026 (Latin America Risk Report)

🌎 Pan American Silver: Built To Survive $58 Silver, Priced For $80 (Seeking Alpha) $ 🗃️

🌎 First Quantum Minerals Ltd. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🌐 First Quantum Minerals Ltd (TSE: FM / FRA: IZ1 / OTCMKTS: FQVLF) – High-quality, low-cost copper mines. Kansanshi (Africa) & Cobre Panama. Copper & nickel projects in Africa & Australia. Gold, zinc & cobalt. 🇼

🌎 Arcos Dorados: I Upgrade To Buy Despite The Real After Lula’s Victory And 2027 Beef Prices (Seeking Alpha) $ 🗃️

  • 🌎 Arcos Dorados Holdings Inc (NYSE: ARCO) – World’s largest independent McDonald’s franchisee. Exclusive right to own, operate & grant franchises of McDonald’s restaurants in 20 Latin American & Caribbean countries & territories. 🇼 🏷️

🌎 MercadoLibre: Brazil Panicked, I’m Buying (Seeking Alpha) $ 🗃️

🌎 DLocal: Wall Street Is Missing The Bigger Picture, I See Double-Digit Upside (Seeking Alpha) $ 🗃️

🇧🇲 The Bank of N.T. Butterfield & Son Limited 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇧🇷 Lula’s surprise election victory sends agri-commodities tumbling (FT) $ 🗃️

🇧🇷 Multiplan Empreendimentos Imobiliários S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇧🇷 NU: Opportunity Following The Brazil Election Results (Seeking Alpha) $ 🗃️

🇧🇷 Nu Holdings: 2 Q&As That Highlight The Threat Posed By Lula’s Victory (Seeking Alpha) $ 🗃️

🇧🇷 Patria Investments: Brazil Sold Off, But Most Of The Fees Are Not In Reais (Seeking Alpha) $ 🗃️

  • 🌎🇰🇾 Patria Investments Limited (NASDAQ: PAX) – Asset management services to investors focusing on private equity, infrastructure development, co-investments, constructivist equity & real estate & credit funds. 🏷️

🇧🇷 XP Inc.: The Future Was Priced In – Then Brazil Happened (Seeking Alpha) $ 🗃️

  • 🌎 XP Inc (NASDAQ: XP) – Wealth management & other financial services (fixed income, equities, investment funds & private pension products). 🇼

🇧🇷 Banco Santander (Brasil) Q3: Uninspiring Past, Uncertain Future (Seeking Alpha) $ 🗃️

🇧🇷 Banco Santander (Brasil): The Tender Offer Is Holding The Price, Not The Results (Seeking Alpha) $ 🗃️

🇧🇷 Itaú Unibanco: A Better Entry Point In A Riskier Brazil Ahead Of Q3 Earnings (Seeking Alpha) $ 🗃️

🇧🇷 Inter & Co: Lula Won – Here’s Why I’m Still Bullish (Seeking Alpha) $ 🗃️

  • 🇧🇷 Inter & Co Inc (BVMF: INBR32 / NASDAQ: INTR) – Holding company of Inter Group & indirectly holds all of Banco Inter’s shares.  Inter is a Super App providing financial & digital commerce services. 🏷️

🇧🇷 Gerdau Q3: Competitive Advantages Overcome Challenges (Seeking Alpha) $ 🗃️

🇧🇷 Gerdau S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇧🇷 Vale: Buying Before The Cycle Turns Despite A Weak Q3 (Seeking Alpha) $ 🗃️

🇧🇷 Brazil’s Bloodbath Leaves Vale Little Scathed, But Concerns Into Earnings (Downgrade) (Seeking Alpha) $ 🗃️

🇧🇷 Vale S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🌐 Vale (NYSE: VALE) – Iron Solutions & Energy Transition Materials segments. Produces & sells iron ore, iron ore pellets, nickel, copper etc + related logistic service. 🇼 🏷️

🇧🇷 Petrobras: Buy The Lula Panic (Seeking Alpha) $ 🗃️

🇧🇷 Bradesco: The Election Repriced The Risk, So I’m Downgrading To Hold (Seeking Alpha) $ 🗃️

🇧🇷 Braskem: A Successful Restructuring Can Still Destroy Any Value For Me (Seeking Alpha) $ 🗃️

🇧🇷 Hypera S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇧🇷 Hypera SA (BVMF: HYPE3 / OTCMKTS: HYPMY) – Pharmaceuticals, consumer healthcare, cosmetics & biotechnology products. 🇼

🇧🇷 Usinas Siderúrgicas de Minas Gerais S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇧🇷 Afya Limited (AFYA) Analyst/Investor Day – Slideshow (Seeking Alpha)

🇧🇷 Ambev Q3: The Day After The Hangover (Rating Downgrade) (Seeking Alpha) $ 🗃️

🇧🇷 Ambev: The Post-Election Selloff Has Created A More Compelling Buying Opportunity (Seeking Alpha) $ ⛔🗃️

🇧🇷 Ambev S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇨🇱 Enel Chile S.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇨🇱 Enel Chile (NYSE: ENIC) – Develops, operates, generates, distributes, transforms and/or sells energy. 🇼

🇲🇽 Vista Energy, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇦🇷 🇲🇽 Vista Energy (NYSE: VIST / FRA: 1CIA / BMV: VISTAA)’s – Mexico HQ’d. Main asset in Argentina is the largest shale oil & shale gas play under development outside North America. 🏷️

🇲🇽 Wal-Mart de México, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇲🇽 Wal-Mart de México, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇲🇽 GCC, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🇲🇽 GCC SAB de CV (BMV: GCC / FRA: AK4 / OTCMKTS: GCWOF) – Gray Portland cement, ready-mix concrete, aggregates, coal & construction-related services. 🏷️

🇲🇽 Controladora Vuela Compañía de Aviación, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇲🇽 Sigma Foods, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇲🇽 Regional S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇲🇽 Vinte Viviendas Integrales, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇲🇽 CEMEX, S.A.B. de C.V. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🇵🇦 Bladex Inc. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

  • 🌎 Banco Latinoamericano (NYSE: BLX) or the Foreign Trade Bank of Latin America or Bladex – Founding shareholders were the Central Banks & government entities of 23 countries in the region. Specialized in addressing trade finance needs. 🇼 🏷️

🇵🇪 Compañía de Minas Buenaventura S.A.A. 2026 Q3 – Results – Earnings Call Presentation (Seeking Alpha)

🌐 Nebius Stock Drops On Debt Fears, But Pricing Power Is A Game Changer (Seeking Alpha) $ 🗃️

🌐 Nebius: Why I Loaded Up During This Crash (Seeking Alpha) $ 🗃️

🌐 Nebius: Chance To Double Down While The Buy Signal Is Printing (Seeking Alpha) $⛔🗃️

🌐 Nebius Stock: Caught In The Storm – Why I’m Doubling Down (Seeking Alpha) $ 🗃️

🌐 Elon Musk Is Wrong About Nebius: Rating Upgrade (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. 🇼 🏷️

🌐 Nebius $NBIS: The Blueprint for an AI-Native Hyperscaler (TheBigBerbowski Investing) $

  • Power, hardware, software, and valuation. This is everything you need to know about the premier AI neocloud.

  • Nebius Group NV (NASDAQ: NBIS) pairs physical infrastructure with proprietary cloud software, a model it calls a “full-stack AI cloud.” Its footprint spans data centers, high-density server racks, and advanced GPU clusters. Scaling this footprint creates two continuous, simultaneous demands on capital: growth CapEx to acquire additional capacity for new customers, and maintenance/refresh CapEx to replace existing hardware as next-gen silicon delivers superior compute per dollar and drives customer migration.

Share

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):

OPay Limited (Postponed) OPAY Citigroup/Deutsche Bank Securities/Standard Bank/CICC, 16.0M Shares, $19.00-19.00, $304.0 mil, 10/30/2026 Postponed

Note: This IPO has been postponed indefinitely. The IPO did NOT trade on Friday, Oct. 30, 2026, on what was expected to be its first day of trading on the New York Stock Exchange. The IPO consisted of American Depositary Shares (ADS). Each ADS represented 10 ordinary shares.
(Incorporated in the Cayman Islands)
We are a Singapore-based holding company. We operate OPay, Nigeria’s No. 1 digital banking platform and its No. 2 app in all categories based on daily active users as of July 31, 2026.
We are the No. 1 finance app in Africa and the Middle East with a 9.9 percent market share based on monthly active users in the six months that ended on June 30, 2026, according to Frost & Sullivan. We also serve customers in Indonesia, mostly by providing loan facilitation as well as in Egypt, where we provide merchant acquisition services, and in Pakistan, where we provide merchant acquisition and consumer wallet services.
For many Nigerians, earning money is not easy. People work hard for every Naira. In cities like Lagos, long commutes, unreliable cash access, and the pressure to move quickly make everyday payments harder than they should be.
Eric Chigozie Anyim, a Lagos-based accountant, describes how simple tasks like paying for transport or settling expenses can slow down his day: “OPay simplifies these everyday moments. Instead of relying on cash or juggling multiple ways to pay, I pay for services, send money, and receive payments through one app. My job depends on accuracy and organization. Being able to track transactions and manage expenses in real time helps me stay focused.”
Over the coming decades, we aspire to become a leading national payment app in more countries across Africa, serving billions of users and millions of merchants, while creating jobs and economic opportunity.
Note: Net income and revenue are in U.S. dollars for the 12 months that ended on June 30, 2026.
(Note: OPay Ltd. has postponed its IPO indefinitely, according to Street sources, as IPOScoop learned after the stock market’s closing bell on Friday, Oct. 30, 2026. Background: OPay Ltd. priced its IPO at $19.00 – the low end of its range – and sold 16 million American Depositary Shares (ADS) – to raise $304 million on Thursday night, Oct. 29, 2026. Background: OPay Ltd. filed its F-1/A on Oct. 23, 2026, and disclosed the terms for its IPO: 16 million ADS at a price range of $19.00 to $21.00 to raise $320 million, if priced at the $20.00 mid-point of its range. Each ADS represents 10 ordinary shares. Background: OPay filed its F-1 for its IPO on Oct. 9, 2026, without disclosing the terms. Estimated proceeds were $100 million, a placeholder figure. Some IPO pros estimated at the time that OPay’s IPO could raise about $450 million to $500 million.)

Primagrove YNTE Eddid Securities, 6.3M Shares, $4.00-6.00, $30.5 mil, 11/9/2026 Week of

(Incorporated in the Cayman Islands)
We conduct our business through our subsidiary, Oceanic Bounty Limited., a tech-focused company based in Hong Kong.
We specialize in the design and development of customized software and tech-enabled workspace solutions with embedded software. We provide digital and operational solutions that support the improvement of business processes as well as providing operational efficiency, internal controls and data analysis. We work with our customers across different stages of their operations and system development.
Our business is primarily project-based, with revenue generated from: (i) system development and maintenance services, (ii) website design and development services, and (iii) workspace solutions with embedded software. We develop customized applications that support core business functions, including data management, workflow automation, document processing and communication. Our system development engagements typically cover system design, development, deployment and maintenance. We also provide workspace solutions with embedded software, including smart office hardware such as smart lockers and silent booths, which complement our digital offerings and support workplace operations.
We serve customers across a broad range of industries, including consulting, real estate, logistics, retail, financial services and other commercial sectors. Our customers include small and medium-sized enterprises and larger organizations.
We are considering expansion into Southeast Asia and the Asia-Pacific region.
Note: Net income and revenue are in U.S. dollars for the 12 months that ended on Dec. 31, 2025.
(Note: Primagrove filed its F-1 on Sept. 30, 2026, for its IPO and disclosed the terms: 6.25 million shares at a price range of $4.00 to $6.00 to raise $30.5 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 (November 2, 2026) was also published on our website under the Newsletter category.

Share

Share Emerging Market Skeptic

Leave a comment

Frontier & Emerging Market Stock Index

Emerging Market Skeptic (Website)

EM Stock Pick Tear Sheets

EM Fund Stock Picks

Stocktwits @EmergingMarketSkptc

Twitter @EmergingMrktSkp



Tags: , , , , ,

More Stories

Is Day Trading Hard? An Honest Assessment

ABC News 10 November 2, 2026 0

Sensex & Nifty 50 | Stock Market Live Updates Today: Sensex Jumps 1.13%, Nifty Gains 0.94%; Energy and Infrastructure Lead Sectoral Gains

ABC News 10 November 2, 2026 0

EM Fund Stock Picks & Country Commentaries (November 1, 2026)

ABC News 10 November 1, 2026 0

Leave a Reply

Your email address will not be published. Required fields are marked *

You may have missed

Emerging Market Links + The Week Ahead (November 2, 2026)

ABC News 10 November 3, 2026 0

Woman at Center of Eva Longoria-Tony Parker Love Triangle Takes Her Own Life

ABC News 10 November 3, 2026 0

Oilers bring perfect road record into clash with surging Devils

ABC News 10 November 2, 2026 0

Why some Texas Democrats are forecasting a “Hispanic hurricane” in midterms

ABC News 10 November 2, 2026 0

Get Glass Hair at Home With This 4-Step System From Giovanni

ABC News 10 November 2, 2026 0