Emerging Market Links + The Week Ahead (September 21, 2026)

Interesting rumors about Air Asia that could have a big impact on SE Asia travel and economy:

I have not flown Air Asia since before COVID and while you can get very very good deals if you are very flexible (book an early morning flight on a weekday), they nickel and dime you on everything…

And while I can’t confirm what’s in the following tweet, it sounds like what Joe Studwell has written about (Asian Godfathers: Money and Power in Hong Kong and Southeast Asia and How Asia Works) concerning the shell games played by Asian tycoons (with the pea being the money they control):

Meanwhile, in the Middle East:

𝗜𝘁 𝗜𝘀 𝗧𝗶𝗺𝗲 𝘁𝗼 𝗦𝗵𝗼𝗿𝘁 𝘁𝗵𝗲 𝗛𝗼𝘂𝘀𝗲 𝗼𝗳 𝗦𝗮𝘂𝗱

The East-West Pipeline is fully destroyed/ has multiple holes. Hormuz is closed. The Houthis control Bab el-Mandeb.

Saudi Arabia can pump the oil, but getting it to the world market is now impossible.

Around… pic.twitter.com/prUhIda4vY
— Tim Hack (@realTimHack) September 11, 2026

The Duran thinks MBS’s only real option is to call Mr. Putin to broker a deal; but if he did that, then there is a good chance he gets regime changed by you know who…

This deep dive with (controversial ex-diplomat) Alastair Crooke was also insightful about the lesser known history of Saudi Arabia e.g. the Saudis grabbed 3 provinces from Yemen back in the 1930s and the Houthis still have influence there plus not all Saudi tribes are happy that one family ultimately controls the wealth:

Note that our Africa & Middle East Stock Index page has a 🇸🇦 Saudi Arabia section along with sections listing stocks in other Gulf or Middle East countries…

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- Why EM airline bonds are flying higher, Brazilian ethanol, AI & Dutch disease, Q2 fund updates for Other International Funds page, etc.

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🌏 Asia

🌏 GLP-1 winners and losers (Asian Century Stocks)

Stocks impacted by increased GLP-1 usage in Asia

GLP-1 weight-loss drugs are still rare in Asia, but they’ll become more common in the next few years

In China, Innovent Biologics (HKG: 1801 / FRA: 6IB / OTCMKTS: IVBXF / IVBIY) and Sciwind Biosciences are both advancing homegrown GLP-1 candidates

In India, Novo Nordisk’s March 2026 patent cliff led to more than five local pharmaceutical companies launching GLP-1 generics within 24 hours, driving prices down by as much as 90%

South Korea and Japan have both approved GLP-1 drugs, but access remains limited due to their health insurance systems

If and when GLP-1 drugs become popular in Asia, expect a negative impact on fast-food restaurants and savory snack producers. And positive impacts on companies selling protein supplements or premium foods.

🇯🇵 Why does Japan keep voting for a party nobody likes? (KonichiValue Japan)

Dictators take note: How Japan built a one-party state with totally free elections.

🇨🇳 China / 🇭🇰 Hong Kong / 🇲🇴 Macau

🇨🇳 Chinese Retail Rush for U.S. Tech Stocks Drains Fresh Offshore Quotas (Caixin) $

Chinese mutual fund managers are drastically tightening daily purchase limits on U.S. equity funds, as a retail frenzy for offshore assets rapidly exhausts newly issued investment quotas.

The scramble underscores how robust demand for overseas assets outstrips limited channels under China’s capital controls, fueled by the wealth effect of a U.S. market featuring top AI heavyweights.

🇨🇳 Alibaba: Expecting Strong Earnings Growth In Q2, Cloud Margin Continues To Improve (Seeking Alpha) $ 🗃️

🌐 Alibaba (NYSE: BABA) 🇰🇾 – eCommerce, retail, Internet & technology. 🇼 🏷️

🇨🇳 Why I’m Looking Into $BABA As A Potential Investment (Bearded Investor)

I analyze Alibaba (NYSE: BABA) to see whether Wall Street is missing a potential opportunity.

Author Note: I owned BABA -1.10%↓ in the past when the AI trade was still nascent. I sold BABA -1.10%↓ in 2023 to invest in other tech names because of my concerns around the sentiment with China and less reward to risk when it ran up in price. It has peaked my interest once again as a potential investment.

BABA -1.10%↓ has been compared to the AMZN 0.11%↑ of China. And it’s no wonder why. They have the cloud business in AliCloud, the logistics business in Cainao, the e-commerce piece with Tmall and TaoBao. But add to that the AI labs, frontier LLM models, semiconductor/chips and so much more that it may be more apt to compare BABA -1.10%↓ to a combination of US big tech firms, not just AMZN 0.11%↑.

I think it would be helpful for my readers (and me) to understand the details of their business before we dive into the financials and more.

🇨🇳 JD.com: Business Struggling, But Investors Are Ignoring The Cash (Seeking Alpha) $ 🗃️

🇨🇳 JD.com: At A Turning Point, Yet Still Deeply Discounted (Seeking Alpha) $ 🗃️

🌐 JD.com (NASDAQ: JD / SGX: HJDD) 🇰🇾 – Supply chain-based technology & service provider. One of the 3 largest eCommerce platforms in China. 🇼 🏷️

🇨🇳 DDL: Dingdong (Cayman) Limited (The Fat Pitch)

On 5 Feb 2026, Dingdong (NYSE: DDL) announced that it entered into an agreement with Two Hearts Investments Limited, a wholly-owned subsidiary of Meituan (HKG: 3690 / 83690 / SGX: HMTD / FRA: 9MD / OTCMKTS: MPNGF / MPNGY).

What is this deal?

Meituan will pay US$717m to buy DDL MaiCai. This is only the China operations.

DDL can receive total cash not exceeding US$280m from Dingdong BVI and its subsidiaries (including Dingdong HK) provided that the remaining net cash is not less than US$150m.

If Meituan bails out, it pays US$150m breakup fee to DDL.

If regulators block the deal, Meituan pays US$75m to DDL.

If DDL bails out, it pays US$75m breakup fee to Meituan.

Deal is subject to approval from China’s SAMR (State Administration for Market Regulation).

DDL is a grocery e-commerce delivery company in China founded 2017 in Shanghai, during a wave of funding for dark-store-based, fresh-focused quick commerce startups. The other two leading players at that time were Beijing-based Miss Fresh, and Pupu Supermarket from Southern Fujian.

As you know, this “instant retail” business is brutally competitive. China has big companies like JD.com (NASDAQ: JD / SGX: HJDD), Alibaba (NYSE: BABA), and Meituan, all engaging in price wars through promotions to acquire customers.

🇨🇳 Sohu: Expect Losses In 3Q26 (Seeking Alpha) $ 🗃️

🇨🇳 Sohu.com Ltd (NASDAQ: SOHU) 🇰🇾 – Online media & online game platforms (Changyou). 🇼

🇨🇳 Tencent Music: The Market Is Pricing In Too Much Weakness (Seeking Alpha) $ 🗃️

🇨🇳 Tencent Music Entertainment Group (NYSE: TME) 🇰🇾 – Online music and audio entertainment platform operating China’s highly popular music apps. 🇼 🏷️

🇨🇳 MiniMax Vs Zhipu: Same Upside, Different Entry. Buy MiniMax’s Reload, Not Zhipu’s Re-Rating (Smartkarma) $

Same 26–27% upside, different entry: MiniMax Group (HKG: 0100 / FRA: E5A) sits at its July placing price with an MSCI bid in 11 weeks; Z.AI Co Ltd (HKG: 2513 / OTCMKTS: KATJF) is 11% above Friday’s placing with a Sep-27 CB binary.

MiniMax’s 17.9% 1H26 gross margin is printed and priced; Z.AI’s decisive number — the 2H26 margin that separates near-breakeven from a RMB4.5bn profit — is six months away.

BULLISH MiniMax (FV HK$340), NEUTRAL Z.AI (FV HK$1,000), 56% and 40% below the street. Prefer MiniMax; hedge funds should own Z.AI’s convertible, not its equity.

🇨🇳 MiniMax (100 HK) Vs Zhipu AI (2513 HK) – Thoughts on Valuation and the Outlook (Smartkarma) $

The continuous decline in MiniMax Group (HKG: 0100 / FRA: E5A)’s stock price is the result of combined effects of the industry price war, the ambiguity of its own strategic positioning, and the burst valuation bubble.

The valuation difference between MiniMax and Zhipu AI is essentially a repricing of the certainty of the “breadth vs depth” two business models. Commercialization of Zhipu AI is more certain.

When AI bubble fails to store dollar liquidity, the US must find new reservoirs to store excessive dollars. This reminds us of high oil prices/hyperinflation. Rebound is an opportunity to sell.

🇨🇳 Volume chipmaker ASR looks to climb up the value chain (Bamboo Works)

The global leader in cellular connectivity chips has filed for a Hong Kong listing as it accelerates its push into the higher-margin business of specialized ASIC chips

ASR Microelectronics Co Ltd (SHA: 688220) logged a 29% rise in first-half revenue and turned a small profit for the period, helped by rising demand for application-specific chips

The company still makes most of its money from general-purpose chips, but custom ASIC solutions rose to 13% of turnover, with a big order backlog

🇨🇳 Moore Threads returns to IPO funding trough to finance its GPU ambitions (Bamboo Works)

The company is planning a Hong Kong listing, just nine months after its Shanghai trading debut, aiming to expand its financing capabilities during a period of rapid growth

Moore Threads Technology Co Ltd (SHA: 688795) has reportedly submitted a confidential application for a Hong Kong listing, planning to raise at least $1 billion

The GPU maker’s revenue surged by 147% in the first half of the year, but it still requires major funds to sustain its cash-intensive operation

🇨🇳 Orbbec’s booming robotic ‘eye’ sales fail to wake up its bottom line (Bamboo Works)

The vision sensor maker is exploring a Hong Kong listing as weaker sales to core client Ant Group and rising development costs weigh on its revenue and profits

Orbbec Inc (SHA: 688322)’s revenue growth slowed from 104.1% in the first half of 2025 to just 0.5% in the same period this year, even as its robot-vision sales more than doubled

Higher spending on research, sales and administration has tested the company’s recent return to profitability

🇨🇳 Enflame Tech (688801 CH): One Customer, One Stack, 4% Float — Sell the Squeeze, Buy the Unlock (Smartkarma) $

Shanghai Enflame Technology Co Ltd (SHA: 688801)’s Tencent (HKG: 0700 / LON: 0LEA / FRA: NNND / SGX: HTCD / OTCMKTS: TCEHY) contract is real — 64,890 cards in FY25, H1-26 revenue above FY25 — but 84% of sales, a 32% gross margin and one customer set the price.

On EV/Sales the stock is mid-pack at 26x FY27E; on EV/gross profit it is 83x, the most expensive of six listed China accelerator names.

We initiate BEARISH, 12-month Fair Value CNY310 (18x FY27E EV/Sales plus net cash), 30% below spot; the 4% float unlocks in June and September 2027.

🇨🇳 Canaan gets doubly squeezed in latest crypto downturn (Bamboo Works)

The cryptocurrency mining machine maker’s revenue plunged and its net loss ballooned in the second quarter as its product sales and mining income both tumbled

Canaan Inc (NASDAQ: CAN)’s revenue from product sales dropped more than 80% in the second quarter, while its mining income dropped 37%

The company continued to accumulate cryptocurrency, but at lower values, as it used its machines for its own mining business to clear out unsold inventory

🇨🇳 Its business stabilized, Cango signs first customer for its new AI business (Bamboo Works)

The company’s bitcoin mining business held steady in the second quarter, as its first high-performance computing center was ready to receive customers in July

Cango (NYSE: CANG) completed its overhaul of a high-performance computing center in Georgia in July, as it signed the first customer for its new AI services

The company continues to refine its core bitcoin mining business by phasing out older machines and experimenting with leased capacity

🇨🇳 Tired of construction and recycling, Envision Greenwise tries AI infrastructure (Bamboo Works)

Following its earlier transition from construction to environmental work, this ‘chameleon company’ has now set its eye on becoming an AI wunderkind

Envision Greenwise Holdings Ltd (HKG: 1783) has spent nearly 1.7 billion yuan on servers as it makes a new move into AI infrastructure

The company, traditionally engaged in construction services and recycling, aims to boost its computing power capacity to 16 MW in the short term

🇨🇳 Is Tinci Materials limping to a Hong Kong IPO? (Bamboo Works)

China’s securities regulator has given the green light to the battery materials maker’s Hong Kong listing application, but only after a year of scrutiny

Guangzhou Tinci Materials Technology (SHE: 002709) has been approved by China’s securities regulator to list in Hong Kong, reporting a sharp decline in profitability from the first quarter to the second

The regulator asked for more details after the battery materials maker filed its first listing application a year ago, before giving its consent last month

🇨🇳 CATL develops pick-up truck batteries for US despite trade barriers (FT) $ ⛔ 🗃️

[Contemporary Amperex Technology Co Ltd (CATL) (SHE: 300750 / HKG: 3750 / SGX: HCCD / OTCMKTS: CYATY / CTATF)]

Comments from Chinese company come ahead of President Xi Jinping’s visit to Washington

🇨🇳 Boss Zhipin Update (Theoria Research)

[Kanzhun Ltd (NASDAQ: BZ)]

China’s largest online recruiting platform mispriced on AI fears

I think it is time to give an update on BOSS Zhipin (BZ) for three reasons:

Since my last deep dive on BZ, revenue and earnings have continued to grow, but the stock has gone the other way. After briefly touching a two-year high near the end of 2025, fears of AI disruption pushed it to an all-time low of around $13 per ADS. I think this has created an attractive opportunity if you believe online recruiting will not cease to exist because of AI.

Since then, I have met twice with BZ’s IR team and its new deputy CFO, and I would like to share what I learned from those conversations.

On the Q2 earnings call, CEO Zhao Peng announced a new growth plan: BZ will begin increasing monetization efforts in Tier 1 and Tier 2 cities, with AI playing an important role. I think this marks BZ’s official entry into a new phase, and I would like to explain how this could affect its future trajectory.

🇨🇳 Trip.com: Post-SAMR Reality Shifts The Narrative To A ‘Show-Me’ Story; Reiterate Neutral (Seeking Alpha) $ 🗃️

🌐 Trip.com (NASDAQ: TCOM) 🇰🇾 – One-stop travel platform. Operates Ctrip, Qunar, Trip.com & Skyscanner. 🇼 🏷️

🇨🇳 Atour Lifestyle Holdings: Why The Market Is Sleeping On This Company (Seeking Alpha) $ 🗃️

🇨🇳 Atour Lifestyle Holdings (NASDAQ: ATAT) 🇰🇾 – Hospitality & lifestyle company in China. Portfolio of lifestyle hotel brands. 🏷️

🇨🇳 RLX Technologies: Recent Share Price Weakness Provides Good Entry Point (Seeking Alpha) $ 🗃️

🌐 RLX Technology (NYSE: RLX) 🇰🇾 – Global branded e-vapor company.

🇨🇳 Yatsen finds new beauty in AI, biotech and automated manufacturing (Bamboo Works)

The company is using technology for things like new ingredient discovery as Chinese consumers seek increasingly individualized products

Yatsen Holding (NYSE: YSG) is turning to AI and other high-tech methods as consumers look for skincare and cosmetics products to meet their individual needs

The company fell back into the red on a non-GAAP basis in the second quarter as its gross margin deteriorated and it spent heavily on marketing

🇨🇳 Lam Soon generates investment value out of the ordinary (Bamboo Works)

The food and edible oil producer’s profit declined 3% in its latest fiscal year, but its total returns from share price gains and dividends are nearly 80% over the past decade

Lam Soon Hong Kong Ltd (HKG: 0411) reported a modest revenue gain in its latest fiscal year, but its profit was undermined by rising raw material prices

Trading volume in shares of the food and edible oil producer is extremely thin, amid speculation the company may be privatized

🇨🇳 Developer lifeline: Seazen seeks financial relief through REIT spinoff (Bamboo Works)

The property developer received regulatory approval this month to issue a commercial real estate investment trust, or REIT

Seazen Group Ltd (HKG: 1030 / FRA: 6FLA / OTCMKTS: SZENF) plans to raise funds through a real estate investment trust whose main assets will comprise two of its shopping malls

The plan, which has been approved by the Chinese securities regulator, is expected to raise 1.5 billion yuan in much-needed funds

🇨🇳 Cloudbreak Pharma shares halted amid probe into ‘IPO rigging’ (Bamboo Works)

Just 14 months after its market debut, the drug developer is under investigation over regulatory concerns that its IPO demand was artificially inflated

Cloudbreak Pharma Inc (HKG: 2592)’s IPO drew strong retail demand but weak institutional interest, and the shares have since dropped sharply below their issue price

A clause in an earlier capital-raising gave shareholders the right to retrieve their investment with interest if the company did not go on to deliver an IPO market cap.

🇨🇳 Ligent Technologies – Hong Kong IPO Preview (Douglas Research Insights) $

Ligent Technologies is getting ready to complete its IPO in Hong Kong in September. Ligent Technologies seeks to raise about HK$5.67 billion ($723 million) in a Hong Kong IPO.

Ligent has offered 172 million shares at an offer price of HK$32.96 apiece. The company has already received $340 million from cornerstone investors, or 47% of the base share sale.

Ligent ⁠makes optical transceivers, optical chips and network terminals used in data centres, cloud computing and telecommunications networks.

🇨🇳 Ligent Technologies – Hong Kong IPO Valuation Analysis (Douglas Research Insights) $

My base case valuation of Ligent Technologies is HKD45.6 per share, representing 38.3% higher than the IPO offer price.

I used four comps including Zhongji Innolight Co Ltd (SHE: 300308), Yangtze Optical Fibre and Cable JSC Ltd (SHA: 601869 / HKG: 6869 / FRA: 1YO / OTCMKTS: YZOFF), Cowell E Holdings Inc (HKG: 1415 / OTCMKTS: CWLLF), and Eoptolink Technology Inc Ltd (SHE: 300502) to value Ligent Technologies.

My base case valuation of HKD45.6 per share which is based on a P/E of 24.1x is at a 20% discount to the comps’ average P/E valuation in 2027.

🇨🇳 Ligent (纳真科技) IPO: Analysis of Deal Terms and Valuation (Smartkarma) $

Ligent Technologies, a China-based maker of optical transceivers and optical network terminals, launched its Hong Kong IPO to raise USD 723m. Citi and CITIC are the joint sponsors.

In this note, we look at the deal terms and provide our thoughts on valuation for the company.

We analyze cornerstone and sponsor performance and assess the risk-reward of the deal.

🇨🇳 Aequitas: Ligent IPO Pricing – Cheapest of Its Peers but AI Sentiment Not Holding Up (Smartkarma) $

Ligent Technologies is looking to raise about US$723m in its upcoming Hong Kong IPO.

It develops, manufactures and sells optical transceivers, optical chips and optical network terminals.

In this note, we examine the IPO dynamics, and look at the firm’s valuation.

🇨🇳 Ligent Technologies (9856 HK) IPO: Valuation Insights (Smartkarma) $

Ligent Technologies (9856 HK) is an optical communication and connectivity products provider. It is seeking to raise US$723 million at HK$32.96 per share.

I previously discussed the IPO in Ligent Technologies IPO: The Investment Case.

In this note, I present my forecasts and valuation. My analysis suggests that the IPO price is attractive.

🇨🇳 Hai Robotics (海柔创新) Pre-IPO: Tearsheet (Smartkarma) $

Hai Robotics, a warehouse picking robot solution provider, has filed its prospectus with the HKEX. GS and CITIC are the joint sponsors.

We look at the company’s core segments: the distribution domain and the manufacturing domain.

We then look at the company’s financial profile, loss-making status, pre-IPO valuation and investor backing.

🇨🇳 RoboTechnik (300757.SZ): The H-Share Is Cheap. The Company Is Not. (Smartkarma) $

2026 A+H IPOs have punished day-one buyers: Luxshare Precision Industry (SHE: 002475 / HKG: 2475), Zhongji Innolight Co Ltd (SHE: 300308) and Shenzhen Longsys Electronics Co Ltd(SHE: 301308) all closed below issue despite discounts of 13–44%.

RoboTechnik’s photonics inflection is real, but FY27E at 372x EPS leaves almost no fundamental valuation support.

Investment positioning: bid only at ≥30% discount, size for a weak open, stop at CNY545 and exit around Southbound eligibility.

🇭🇰 Over 63% of HK businesses confident on outlook (The Asset) 🗃️

Broad optimism, but calls for practical support to accelerate technology adoption, growth

Ahead of Hong Kong’s inaugural five-year plan and annual policy address, nearly two-thirds ( 63% ) of survey respondents feel positive or very positive about the outlook for the city’s businesses over the next 12 to 18 months, according to a recent survey.

As well, Hong Kong businesses are strengthening competitiveness by balancing innovation with operational discipline, finds the survey by DBS Hong Kong conducted between August 6 and September 7, which gathered responses from 250 Hong Kong-based business owners and senior decision-makers across small and medium-sized enterprises ( SMEs ) as well as large and mid-sized companies in Hong Kong.

🇭🇰 Link Real Estate Investment Trust (LKREF) Q1 2027 Guidance/Update Call – Slideshow (Seeking Alpha)

🌏🇦🇺🇬🇧 Link REIT (HKG: 0823 / OTCMKTS: LKREF) 🇭🇰 – Most liquid & largest REIT in Asia. Retail facilities, car parks, offices & logistics assets across China, Australia, Singapore & UK. 🇼 🏷️

🇭🇰 New World Dev (17 HK)’s Shanghai-Listed REIT Is A Drop In The Bucket (Hong Kong/China M&A/Events)

Embattled property developer New World Development Co Ltd (HKG: 0017 / FRA: NWDA / OTCMKTS: NDVLY) has proposed the spin-off and separate listing of a REIT on the Shanghai Stock Exchange.

The spin-off comprises the mixed-use property (comprising Shanghai K11 Art Mall and Shanghai K11 ATELIER NWT), one of NWD flagship PRC assets.

Trading at a trailing P/B 0.074x. That pretty much says it all. The impact from the spin-off, if completed, will be minimal. This remains an avoid.

The Trade:

I’d still avoid NWD.

This latest deleveraging proposal, if completed, will only make a modest dent.

In a normal world, the liquidators would have been called in by now.

🇲🇴 Macau may see 20pct rise in daily visitors for September’s Mid-Autumn Festival: travel rep (GGRAsia)

Macau may see up to 120,000 visitors daily on average during a three-day Chinese-mainland festive period in late September. That would be a 20 percent rise on a current daily average, which stood at “nearly 100,000” arrivals. The latter number was cited by Andy Wu Keng Kuong, president of the Travel Industry Council of Macau, a trade body.

He mentioned that current tally in an interview with local news outlet Macao Daily News published on Tuesday.

🇲🇴 Macau’s overseas-visitor tally down 9.8pct y-o-y in August: govt (GGRAsia)

The tally of Macau’s international visitors fell 9.8 percent year-on-year in August, to 171,679, or 3.8 percent of the month’s nearly 4.48-million visitors.

The latest numbers took the eight-month international-visitor figure to just under 1.77 million, or 6.1 percent of the total for the year up to August 31.

The aggregate of August tourists from the Chinese mainland went up 9.3 percent from a year earlier, to just above 3.56 million, or 79.5 percent of all visitors.

That is according to data issued on Friday by the city’s Statistics and Census Service.

🇲🇴 CLSA trims 2027 and 2028 Macau GGR growth forecasts, voicing caution on sector’s outlook (GGRAsia)

Brokerage CLSA has cut its growth forecasts on Macau’s casino gross gaming revenue (GGR) for 2027 and 2028, saying it has a “more cautious” view on the sector than previously, and citing lack of “supportive” macroeconomic indicators.

CLSA cut its 2027 Macau casino GGR estimate by 4 percent, to MOP259.2 billion (US$32.1 billion) and its 2028 forecast by 3 percent, to MOP270.4 billion.

Its 2026 forecast is for MOP253.2 billion, “largely unchanged” from its previous calculation.

While there had been “notable recovery” in Macau’s GGR and visitor volume after the FIFA World Cup 2026, a football tournament held from June 11 to July 19, the institution stated “we do not think macros are supportive enough to drive incremental growth from the current revenue run-rate”.

🇲🇴 Wynn outlook clouded by Macau softness, Middle East tensions: JP Morgan (GGRAsia)

Wynn Resorts Ltd (NASDAQ: WYNN)’s share price has fallen to a 52-week low amid investor concerns about softer-than-expected gaming trends in Macau and escalating tensions in the Middle East, says JP Morgan Securities LLC.

The institution said Wynn Resorts’ stock had declined 14 percent over the preceding month, compared with a 2-percent fall in the S&P 500 index. The brokerage attributed the underperformance to concerns regarding the group’s exposure to Macau and the United Arab Emirates (UAE).

“Macau industry GGR [gross gaming revenue] has been softer than expected post World Cup,” wrote analysts Daniel Politzer, Samuel Nielsen and Michael Hirsh in a Monday report.

🇲🇴 Lawrence Ho transfers 26.44mln shares in Melco Resorts for ‘generational wealth planning’

Lawrence Ho Yau Lung, chairman and chief executive of casino group Melco Resorts & Entertainment Ltd (NASDAQ: MLCO), has transferred just over 26.44 million ordinary shares in the firm, each with a par value of US$0.01, as a “gift” to an “irrevocable, professionally-managed trust as part of a generational wealth planning exercise”.

That is according to a Friday filing in the United States, which cited a Singapore address for Mr Ho for the purpose of the filing.

Two transactions – both dated September 16 – involved just under 16.51 million shares and just over 9.93 million shares, respectively. Mr Ho directly holds just under 8.80 million shares in Melco Resorts following the exercise.

🇹🇼 Taiwan

🇹🇼 Silicon Motion: I’m Raising My Price Target As Enterprise Growth Accelerates (Seeking Alpha) $ 🗃️

🇹🇼 Silicon Motion Technology: Earnings Explosion Makes The Valuation Look Increasingly Reasonable (Seeking Alpha) $ 🗃️

🌐 Silicon Motion Technology Corporation (NASDAQ: SIMO) – Designs, develops, & markets NAND flash controllers for solid-state storage devices. 🇼

🇹🇼 Hon Hai Precision: Complex Server Manufacturing Is Becoming A Better Business (Seeking Alpha) $ 🗃️

🌐 Hon Hai Precision Industry Co (TPE: 2317 / FRA: HHP2 / OTCMKTS: HNHPF) – Foxconn is the World’s largest electronics manufacturer. 🇼 🏷️

🇹🇼 ASE Technology Can Miss August’s Run Rate And Still Beat Q3 Guidance (Seeking Alpha) $ 🗃️

🌐 ASE Technology Holding (NYSE: ASX) – Independent semiconductor manufacturing services in assembly, test, materials & design manufacturing. 🇼 🏷️

🇰🇷 Korea

🇰🇷 South Korea arms itself to protect chip secrets from foreign spies (FT) $ ⛔ 🗃️

Seoul broadens its espionage legislation for the first time in more than seven decades

🇰🇷 South Korea’s Lee suffering ‘sleepless nights’ as US pressure grows (FT) $ ⛔ 🗃️

President insists Seoul will only put $350bn investment towards ‘commercially viable’ projects

🇰🇷 Korean Govt to Allow ETFs Trading by Foreign Retail Investors Through the Foreign Omnibus Accounts (Douglas Research Insights) $

Korean financial regulators have recently amended regulations to allow retail foreign investors to invest in domestic ETFs and ETNs via foreign omnibus accounts starting January 2027.

Total size of the ETFs in Korea jumped from 121.1 trillion won at the end of 2023 to 512 trillion won at the end of July 2026.

FnGuide is also one of the key beneficiaries of the foreign retail investors investing in Korean ETFs as FnGuide is one of largest ETF related indices providers in Korea.

🇰🇷 Korea To Introduce 50%+1 Mandatory Tender Offer Rule: Taking 1 Step Back on Reducing Korea Discount (Douglas Research Insights) $

In the past several days, Korea’s National Assembly passed an amendment to the Capital Markets Act, codifying a bipartisan compromise known as the “50%+1” rule for tender offers.

I do not like the new 50%+1 tender offer system in Korea, although it is slightly better than the existing tender offer system in Korea.

What about the remaining 49.99% of the minority shareholders? Clearly, these remaining minority shareholders are not treated fairly.

🇰🇷 Korea Value Up Index Continuing to Outperform KOSPI by Big Margin YTD (Douglas Research Insights) $

Korea Value-Up Index closed at 3,274.46 on 19 September 2026, up 82.2% YTD, outperforming KOSPI and KOSPI200 which are up 63.6% and 79.9%, respectively in the same period.

Market caps of 12 major ETFs in Korea that track the Korea Value Up index was 3.2 trillion won as of 18 September 2026, up 154% from 2 January 2026.

Overall, I believe that this the Korea Value-Up Index could continue to receive significant amounts of capital inflow in the next several years.

🇰🇷 SK Hynix ADR Inclusions in the SMH ETF, VanEck Semi UCITS ETF, and KODEX US Semi ETF Rebalances (Douglas Research Insights) $

There are several notable ETFs (SMH ETF, VanEck Semiconductor UCITS ETF, and KODEX US Semiconductor ETF) that will include SK Hynix (KRX: 000660) (SKHY US) ADRs in their upcoming rebalances.

The expected capital inflow from the passive funds is expected to be significant at about $3.8 billion (5.2 trillion won).

A $3.8 billion inflow represents 11.3% of the total ADR market cap. ADTV is $4.3 billion. Flow/ADTV (no of days) is 0.88.

🇰🇷 VI (Volatility Interruption) Mechanisms Surge in the KRX’s New After Hours Market Launch (Douglas Research Insights) $

In this insight, I discuss the launch of Korea Exchange’s new after hours market and the positive impact it could have on several leading local brokers.

Korea Exchange (KRX) officially launched the real time after-hours trading market on 14 September. This new platform operates from 4 PM to 8PM KST.

Given that the retail local investors dominate the KRX after hours market with more than 90% share, this would positively impact Kiwoom Securities (KRX: 039490), in particular.

🇰🇷 Samsung SDS Becomes the 1st Korean Company to Achieve Select Tier Partnership Status with Anthropic (Douglas Research Insights) $

On 15 September, it was announced that Samsung SDS (KRX: 018260) has become the first Korean company to achieve “Select Tier” partnership status with Anthropic in the “Claude Partner Network.”

This partnership is likely to have a positive impact on Samsung SDS’s share price in the coming weeks, as Anthropic IPO is likely to be the largest ever in history.

Samsung SDS’s valuations have become more attractive. It is trading at EV/EBITDA of 5.6x and P/B of 1.5x based on 2027 consensus earnings estimates.

🇰🇷 Korea Investment Partners – A Home Run Investment in Anthropic (Douglas Research Insights) $

Korea Investment Partners (KIP) has made a home run investment in Anthropic. Korea Investment Holdings (KRX: 071050 / 071055) owns a 100% stake in Korea Investment Partners

Assuming a 50% share dilution from its original investment in August 2024 ($10 million), KIP’s stake in Anthropic would reach $555 million (if Anthropic is valued at $2 trillion).

Korea Investment Holdings Co, Ltd. (071050 KS) has a market cap of 10.4 trillion won, so this would be 7.4% of its market cap.

🇰🇷 A Tender Offer of Gabia by Macquarie Fails – Minority Shareholders Believe Its Value Is Much Higher (Douglas Research Insights) $

The tender offer of Gabia Inc (KOSDAQ: 079940) by Macquarie Asset Management has failed.

A total of 0.72 million shares of Gabia were tendered by the minority shareholders, representing only 5.4% of outstanding shares, failing to meet minimum target number of shares (3.27 million).

Failure of this tender offer suggests that many minority shareholders of Gabia believe the intrinsic value of Gabia is much higher. Therefore, this is a long-term positive on the company.

🇰🇷 DTS IPO Preview (Douglas Research Insights) $

DTS is getting ready to complete its IPO in October 2026 in KOSDAQ. DTS designs and manufactures air-cooled heat exchangers used in power generation, LNG, and petrochemical plants.

The IPO price range is from 17,000 won to 18,500 won per share. Based on this range, the expected market capitalization ranges from 252.6 billion to 274.9 billion won.

DTS is a subsidiary of Dasan Networks Inc (KOSDAQ: 039560). Dasan Networks’ 32% stake in DTS (post IPO) represents 84% of Dasan Networks’

🇰🇷 Coupang: The “Amazon” of South Korea (Fiscal.ai)

Speed, scale, and operating leverage. An inside look at South Korea’s most dominant marketplace.

Today, Coupang is the leading vertically integrated e-commerce provider in South Korea.

For all intents and purposes, the “Amazon of South Korea” analogy is a great fit here.

What truly makes Coupang stand out from other Korean e-commerce providers like NAVER (KRX: 035420 / OTCMKTS: NHNCF) or Gmarket is the speed of delivery. When Bom Kim shelved the initial IPO in 2014, roughly half of Coupang’s customer complaints were about shipping times. To deliver a service that customers couldn’t live without, Kim knew they had to start investing heavily in the delivery side of the business.

That not only included investments in physical assets like fulfillment centers, warehouse robotics, and a custom vehicle fleet, but it meant optimizing their delivery algorithms with systems like dynamic route optimization and predictive demand modeling.

This gave Coupang an early leg up that still persists to this day.

🌏 SE Asia

🇵🇭 PLDT: A ‘Buy’ On Upcoming Data Center Spin-Off (Seeking Alpha) $ 🗃️

🇵🇭 PLDT (NYSE: PHI) or Philippine Long Distance Telephone Company – Telecommunications & digital services. Controlled by First Pacific Co Ltd (HKG: 0142 / FRA: FPC / OTCMKTS: FPAFY / FPAFF). 🇼

🇵🇭 S&P gives DigiPlus ‘B+’ rating, forecasts up to 50pct share of Philippine online market (GGRAsia)

S&P Global Ratings has assigned a ‘B+’ long-term issuer credit rating to DigiPlus Interactive (PSE: PLUS), saying it expects the company to retain a 40-percent to 50-percent share of the Philippine online gaming market over the next two years.

The rating agency assigned a ‘stable’ outlook to the Philippines-listed online gaming operator. It said DigiPlus’ “good products and effective user engagement” were likely to help it remain the country’s largest online gambling operator, while identifying the evolving regulatory environment and execution of new projects as key risks.

DigiPlus currently has a “big lead” over the second-largest operator, which S&P estimates has a market share of between 15 percent and 20 percent.

🇸🇬 Ruling raises questions over recovery in Singapore of debts owed to foreign casinos: law firm (GGRAsia)

Foreign casino operators extending credit to customers with assets in Singapore may need to reassess the risks of recovering such debts in the city-state, following a recent High Court ruling, suggests an analysis by Singapore law firm Rajah & Tann.

It said the decision, in a case involving Venetian Macau Ltd – the entity holding the gaming concession of Macau casino operator Sands China (HKG: 1928 / FRA: 599A / OTCMKTS: SCHYY / OTCMKTS: SCHYF) – versus businesswoman Hu Yangning, represented a “turning point” in Singapore law regarding enforcement of foreign judgements relating to gambling debts.

Under the ruling, foreign casino operators cannot rely on Singapore’s statutory registration process to recover gambling debts via the country’s courts, even where the operator has already obtained a valid judgement elsewhere, said the legal analysis.

🇸🇬 Top Stock Market Highlights of the Week: Grab, StarHub, the US Federal Reserve and Alphabet (The Smart Investor)

We look at Grab’s landmark fintech acquisition, further consolidation in Singapore’s telecoms sector, the Federal Reserve’s first rate hike in three years, and growing AI safety concerns at Google DeepMind.

Super-app deepens fintech ambitions with US$1.5 billion BNPL acquisition

Grab Holdings Limited (NASDAQ: GRAB) announced on 15 September that it will acquire a 60 per cent stake in buy-now-pay-later (BNPL) platform Atome Financial from Advance Intelligence Group for US$1.5 billion in cash.

The deal will combine Atome’s BNPL loans, consumer cash loans, and digital lending operations with Grab’s existing financial services business.

Atome Financial operates across Singapore, Malaysia, the Philippines, Indonesia, and Thailand, and has accumulated 25 million transacted users to date.

Singapore’s telecoms consolidation picks up pace

StarHub (SGX: CC3 / FRA: RYTB / OTCMKTS: SRHBY / SRHBF) and MyRepublic have expanded their mobile partnership, with all MyRepublic Mobile subscribers set to be migrated onto StarHub’s network.

The move follows a 2022 agreement for StarHub to provide 5G network access for MyRepublic Mobile customers, as well as StarHub’s outright acquisition of MyRepublic’s Singapore broadband business in August 2025.

MyRepublic is a mobile virtual network operator (MVNO) that relies on host infrastructure rather than its own cellular towers.

The Fed raises rates amid stubborn inflation

AI safety fears mount as DeepMind researcher warns of existential risk

🇸🇬 STI or S&P 500: Where Should You Invest Your Next Dollar? (The Smart Investor)

Singapore investors can choose between the STI’s dividend-rich blue chips and the S&P 500’s global growth companies. Which market offers the better opportunity for your next investment dollar?

What Exactly Are You Buying?

The STI tracks 30 of Singapore’s largest listed companies.

Buying an STI exchange-traded fund (ETF) like SPDR STI ETF (SGX: ES3) gives you exposure to all 30 companies, with reliable dividend income as the main draw.

The STI vs The S&P 500: The Growth Debate

Yield vs. Growth: The Real Return Picture

Diversification: The S&P 500’s Biggest Advantage?

Valuation: Which Market Offers Better Value?

What Happens When Interest Rates Change?

Where Should Different Investors Put Their Next Dollar?

Get Smart: Your Next Dollar Doesn’t Have to Choose Sides

🇸🇬 These Singapore Companies Could Benefit from The Fed’s Latest Rate Hike (The Smart Investor)

Higher US interest rates can push Singapore borrowing costs higher, but some Singapore companies could benefit from the latest Fed rate hike.

The Big Three Local Banks: Direct Winners of Expanding Margins

Even with their premium valuations, especially for DBS Group (SGX: D05 / FRA: DEVL / DEV / OTCMKTS: DBSDY / DBSDF) and Oversea-Chinese Banking Corp (OCBC) (SGX: O39 / FRA: OCBA / FRA: OCBB / OTCMKTS: OVCHY), all three banks, including United Overseas Bank (SGX: U11 / FRA: UOB / UOB0 / OTCMKTS: UOVEY / UOVEF), could still enrich shareholders even further.

S-REITs – Identify Potential Hedged Winners and Vulnerable Losers

Get Smart: Strengthening Your Portfolio with a Barbell Strategy

🇸🇬 The STI Is at a Record High: Here Are 3 Singapore Stocks I Would Still Buy (The Smart Investor)

The STI just hit a record high, but that doesn’t mean every Singapore stock is now overpriced. Here are three quality businesses that still deserve a place in your portfolio.

DBS Group (SGX: D05 / FRA: DEVL / DEV / OTCMKTS: DBSDY / DBSDF)

DBS is Singapore’s largest bank, with a footprint across 19 markets including Greater China, Southeast Asia, and South Asi

Sheng Siong Group (SGX: OV8 / OTCMKTS: SHSGF)

Sheng Siong is a familiar supermarket name among Singaporeans, and people need to visit the supermarket whether the economy is booming or not.

1HFY2026 revenue rose 11.9% YoY to S$855.4 million, on the back of sixteen new stores and comparable-store sales growing at 3.3%, while net profit climbed 11.9% to S$81.0 million.

Singapore Exchange Limited(SGX: S68 / FRA: SOU / SOUU / OTCMKTS: SPXCF / SPXCY)

For Singapore’s only stock exchange operator, FY2026 was its best year yet.

Why Buying Quality Matters More Than Waiting for the Perfect Dip

How Investors Can Approach a High Market

Common Mistakes Investors Make

Get Smart: Great Businesses Can Still Compound at Highs

🇸🇬 3 STI Reserve List Stocks Boosting Dividends: Sheng Siong, Olam, First Resources (The Smart Investor)

Three STI reserve list stocks raised dividends, with Sheng Siong, First Resources and Olam showing different sources of cash behind their higher payouts.

Sheng Siong Group (SGX: OV8 / OTCMKTS: SHSGF), First Resources Ltd (SGX: EB5 / FRA: 5F1 / OTCMKTS: FTROF), and Olam Group Ltd (SGX: VC2 / FRA: K25 / OTCMKTS: OLGPF) each raised their payouts.

What’s behind Sheng Siong’s 17% dividend raise?

Sheng Siong declared an interim dividend of S$0.0375, up 17.2% from S$0.032 a year ago.

The supermarket operator’s solid half-year performance easily backs up the higher distribution.

What drove First Resources’ 78% dividend increase?

First Resources bumped its interim dividend up 77.8% to S$0.08, compared to S$0.045 last year.

A quick look at the palm oil producer’s first-half results explains the jump.

Is Olam’s dividend boost a one-off?

At first glance, Olam Group’s total payout jumped dramatically from S$0.02 to S$0.07.

But splitting the ordinary and special components tells a very different story.

Get Smart: How to spot real payout growth

🇸🇬 Dividend Windfall: 3 SGX Small Caps That Just Doubled Their Dividends (or More!) (The Smart Investor)

Three SGX small-cap stocks doubled their interim dividends, but earnings and free cash flow reveal whether these higher payouts can last.

What drove PC Partner’s profit to more than double?

PC Partner Group Ltd (SGX: PCT / OTCMKTS: PCPPF) designs, manufactures, and trades electronics and PC parts, with video graphics cards accounting for 92% of revenue.

The group delisted from the Hong Kong Exchange in January 2026 and now trades solely on the SGX.

Can China Sunsine’s cash reserves keep the dividends flowing?

China Sunsine Chemical Holdings (SGX: QES) produces rubber chemicals in the People’s Republic of China for tyre makers such as Bridgestone and Pirelli.

For 1H2026, revenue climbed 19% YoY to RMB 2.0 billion.

Why did APAC Realty’s dividend more than double when earnings fell?

APAC Realty Ltd (SGX: CLN) owns the master franchise rights to the ERA Real Estate brand across Asia Pacific, with brokerage services generating roughly 99% of revenue and Singapore contributing about 97%.

For 1H2026, revenue fell 3.6% YoY to S$329.3 million.

Get Smart: 3 questions to ask when any company doubles its dividend

🇸🇬 Beyond Blue Chips: 3 SGX Stocks Quietly Buying Back Their Own Shares (The Smart Investor)

Three SGX small-cap stocks are buying back shares while raising dividends – but can their free cash flow sustain both?

Valuetronics Holdings (SGX: BN2 / FRA: GJ7), UltraGreen.ai Ltd (SGX: ULG / FRA: U5T), and Nanofilm Technologies (SGX: MZH / OTCMKTS: NNFTF) collectively repurchased around S$10.5 million of stock.

What does a formal capital return programme look like?

Why would a newly listed company buy back its own shares?

Can a turnaround company afford to return cash?

Get Smart: What do buybacks alongside rising dividends tell you?

🇸🇬 Top 3 Temasek-Backed Stocks with Aggressive Share Buybacks (The Smart Investor)

Temasek-backed Singtel, Keppel and ST Engineering drove Singapore’s share buybacks in 2026, together accounting for 64% of all repurchases.

What is driving Singapore Telecommunications Ltd (SGX: Z74 / FRA: SIT / SIT4 / OTCMKTS: SGAPY / SNGNF) or Singtel’s near-billion-dollar buyback?

Singtel alone accounted for S$948.6 million of the total – representing nearly 45% of all on-market buybacks on the SGX in 8M26.

The telecom giant is executing these repurchases under its Value Realisation Share Buyback (VRSB) programme, which aims to return up to S$2 billion to shareholders over three years.

Can Singapore Technologies Engineering Ltd (SGX: S63 / FRA: SJX / OTCMKTS: SGGKF) or ST Engineering’s cash generation sustain its buyback?

ST Engineering deployed S$91.5 million on buybacks in 8M26.

While that figure is smaller than Singtel’s, it is fully supported by healthy cash generation.

How does Keppel Ltd (SGX: BN4 / FRA: KEP / KEP1 /OTCMKTS: KPELY / KPELF) fund a S$301 million buyback amid mixed results?

Keppel spent S$301.1 million on buybacks in 8M26, placing it second among the three blue chips.

Headline numbers looked weak at first glance, with net profit falling 59.0% YoY to S$154.7 million in 1H2026.

Get Smart: The Hidden Power of Share Buybacks

🇸🇬 Top 6 Temasek-Backed Stocks with Aggressive Share Buybacks (The Smart Investor)

SGX, Seatrium and SATS are among Singapore’s most active share-buyback stocks in 2026, but their financial strength tells different stories.

Singapore Exchange Limited (SGX: S68 / FRA: SOU / SOUU / OTCMKTS: SPXCF / SPXCY), Seatrium Ltd (SGX: SE2 / FRA: S8N / OTCMKTS: SMBMF), and SATS Ltd (SGX: S58 / FRA: W1J / OTCMKTS: SPASF) spent a combined S$116.7 million on share buybacks over the same eight-month stretch.

As of mid-2025 and early 2026, Temasek Holdings holds a 23.3% stake in SGX (via SEL Holdings), 36% in Seatrium, and approximately 40% in SATS.

Can SGX buy back shares and raise dividends at the same time?

SGX repurchased 2,063,000 shares for S$42.0 million in 8M26, and unlike many corporate peers, the exchange operator generates more than enough cash flow to fund both buybacks and higher dividends simultaneously.

What is driving SATS’ buyback amid negative free cash flow?

Ground handler and in-flight caterer SATS repurchased 9,554,200 shares for S$35.0 million in 8M26, even as its cash flow lagged behind top-line recovery.

What happens after Seatrium completes its S$100 million programme?

Offshore and marine specialist Seatrium repurchased 17,780,000 shares for S$39.7 million in 8M26.

Get Smart: The Simple Test for Share Buybacks

🇸🇬 Singapore Business Trust Sector – Return OF Capital, No Exception (Corporate Monitor)

🇸🇬 Passive Income Boost: Top 3 S-REITs Paying Higher Distributions This Week (The Smart Investor)

LREIT, AA REIT and CICT are paying higher distributions this week, but investors should examine whether their latest DPUs are sustainable.

Lendlease Global Commercial REIT (SGX: JYEU / OTCMKTS: LLGCF), or LREIT, distributes on 21 September. AIMS APAC REIT (SGX: O5RU / OTCMKTS: ACIRF), or AA REIT, follows on 23 September, while CapitaLand Integrated Commercial Trust(SGX: C38U / OTCMKTS: CPAMF), or CICT, rounds out the week on 25 September.

Did LREIT earn its higher DPU?

LREIT owns three Singapore retail properties – Jem, 313@somerset and PLQ Mall – along with three Grade A commercial buildings in Milan, Italy.

What’s powering AA REIT’s payout growth?

AA REIT owns 27 industrial properties, with 24 in Singapore and three in Australia, including a 49% interest in Optus Centre.

The properties span logistics, warehouse, business park, industrial, and hi-tech assets, with total assets under management reaching around S$2.2 billion as of 30 June 2026.

What does CICT’s 1H2026 performance mean for income investors?

CICT ranks among Singapore’s largest REITs, holding retail, office, and integrated development properties across Singapore, Germany, and Australia under the sponsorship of CapitaLand Investment Limited (SGX: 9CI).

Get Smart: What keeps a distribution growing?

🇸🇬 CICT, FCT or Mapletree Industrial Trust: Which REIT Is the Best Buy Today? (The Smart Investor)

CICT, FCT and MIT are three established Singapore REITs with different property portfolios, growth drivers and dividend profiles. Which offers the best combination of yield, growth and value today?

CapitaLand Integrated Commercial Trust (SGX: C38U / OTCMKTS: CPAMF), or CICT, Frasers Centrepoint Trust (SGX: J69U / OTCMKTS: FRZCF), or FCT, and Mapletree Industrial Trust (SGX: ME8U / OTCMKTS: MAPIF), or MIT, give a unique mix of yield, defensiveness, and growth.

So, which REIT gives the best risk-reward combo?

The Three REITs at a Glance

The Distribution Showdown

Portfolio Quality: Which REIT Owns the Best Assets?

Balance Sheet Battle

Valuation: Which REIT Is the Best Buy Today?

Which REIT Is Best for Different Investors?

Get Smart: The Best REIT Is the One You Buy at the Right Price

🇸🇬 This REIT-Like Blue Chip Raised its Dividends by 33%, is it Time to Buy? (The Smart Investor)

The blue-chip property developer and owner is prominent in Hong Kong but ignored by most investors.

If you are in Hong Kong, take a trip to Central MTR station and look around.

The office towers and shopping malls in front of you belong, for the most part, to Hongkong Land Holdings (SGX: H78 / LON: HKLJ / FRA: HLH / OTCMKTS: HKHGF / HNGKY) or HKLand.

The property developer and owner sits in the Straits Times Index (SGX: ^STI) alongside DBS Group (SGX: D05 / FRA: DEVL / DEV / OTCMKTS: DBSDY / DBSDF) and Singapore Telecommunications Ltd (SGX: Z74 / FRA: SIT / SIT4 / OTCMKTS: SGAPY / SNGNF) or Singtel.

Yet HKLand is also one of the index members most investors ignore.

Hongkong Land increased its interim dividend by an eye-catching 33% year on year (YoY).

Did the dividend really rise by a third?

Hongkong Land’s pivot to recurring income

What did the asset sales prove?

What about the business behind the ticker?

Can the cash cover the payout?

Get Smart: What happens when the selling stops?

🇸🇬 S$10,000 in DBS, OCBC or UOB: Which Bank Pays the Most Dividends? (The Smart Investor)

DBS, OCBC and UOB are among Singapore’s favourite dividend-paying blue chips. But if you invested S$10,000 in each bank, which one would generate the most dividend income today?

First, How Much Would S$10,000 Buy You?

Bank #1: DBS Group (SGX: D05 / FRA: DEVL / DEV / OTCMKTS: DBSDY / DBSDF)

Bank #2: Oversea-Chinese Banking Corp (OCBC) (SGX: O39 / FRA: OCBA / FRA: OCBB / OTCMKTS: OVCHY)

Bank #3: United Overseas Bank (SGX: U11 / FRA: UOB / UOB0 / OTCMKTS: UOVEY / UOVEF)

Which Bank Pays the Most?

But What If You Reinvest the Dividends?

Which Bank Has the Safest Dividend?

Common Mistakes Investors Make

Get Smart: Don’t Just Chase the Biggest Payout

🇸🇬 Get Smart: Should You Dump Your Losers to Buy More DBS Shares? (The Smart Investor)

Past returns tell you where a stock has been, not where it’s going. The better question: what do you need it to do for you?

Living in the past

Take DBS Group (SGX: D05 / FRA: DEVL / DEV / OTCMKTS: DBSDY / DBSDF), which closed at S$77 last Friday (11 September 2026).

That’s the very stock The Smart Dividend Portfolio bought back in April 2020, at S$17.58 per share (adjusted for the bank’s one-for-10 bonus issue in 2024).

A tale of two stocks

Now, contrast that with CapitaLand Ascendas REIT (SGX: A17U / OTCMKTS: ACDSF), or CLAR for short.

The REIT has not done as well as DBS, that’s for sure.

Knowing what you want

CLAR is built for income.

Knowing what to expect

Get Smart: Optimise for your needs, not your neighbour

🇸🇬 JB–Singapore RTS Link: These 3 Singapore Stocks Could See Growth Derailed (The Smart Investor)

As the JB-Singapore RTS Link nears completion, three Singapore stocks could face slower growth as consumers gain easier access to cheaper alternatives in Johor.

A strong Singapore dollar against the Malaysian ringgit has long driven Singaporean consumers up north for necessities.

The completion of the Johor Bahru (JB)–Singapore Rapid Transit System (RTS) Link gives them more reasons to do so, resulting in a projected net S$290 million of outbound consumer spending in JB.

While JB businesses are expected to benefit, some Singaporean businesses could see growth derailed.

Frasers Centrepoint Trust (SGX: J69U / OTCMKTS: FRZCF), or FCT – Suburban Landlord Taking a Direct Hit From RTS

With around half of FCT’s retail portfolio providing essential services, it’s arguably one of the hardest-hit REITs from increased cross-border convenience.

Sheng Siong Group (SGX: OV8 / OTCMKTS: SHSGF) – Defensive Business Anchored by Fresh Produce and Government Vouchers

Renowned for its operational efficiencies, Sheng Siong now sees its 90 outlets across Singapore’s HDB estates face a potential retail outflow as value hunters head north for their grocery fixes.

It doesn’t help that its footprint extends across heartland areas, which mostly include non-central regions that are vulnerable to the impact of consumer loss to JB.

However, it helps that the supermarket operator’s revenue mix includes fresh produce like raw seafood, meat, fruits, and vegetables, which face strict customs restrictions.

DFI Retail Group(SGX: D01 / FRA: DFA1 / OTCMKTS: DFIHY) – Regional Diversification Could Cushion the Localised Singapore Headwinds

Despite DFI’s revenue dipping 6% to US$4.14 billion YoY following the divestment of its Singapore Food business (Cold Storage and Giant), its underlying profit for the six months ended 30 June 2026 (1H2026) surged 11% to US$117 million, thanks to sales recovery of existing divisions and effective cost optimisation measures.

The divestment announced in March 2025 saw the group selling Cold Storage and Giant for S$125 million, effectively removing much of the risk related to direct grocery price arbitrage.

With this divestment, 7-Eleven and Guardian anchor DFI’s Singapore presence in the convenience and drugstore sectors, respectively.

Get Smart: Distinguish the Resilient from the At-Risk

🇸🇬 This Blue Chip’s Dividend Just Jumped 77%. Should Investors Take Note? (The Smart Investor)

A 77% dividend increase is hard to ignore, but is it sustainable?

DFI Retail Group(SGX: D01 / FRA: DFA1 / OTCMKTS: DFIHY) raised its interim dividend from US$0.035 per share to US$0.062 for the first six months of 2026 (1H 2026).

Where did the 77% come from?

Can free cash flow carry the dividend?

Where does DFI earn its money now?

What should you watch from here?

Get Smart: Take a cue from Warren Buffett before you decide

🇸🇬 From Costco to Sheng Siong: Analysing the Consumer Staples Moat Across Two Markets (The Smart Investor)

Costco Wholesale Corporation (NASDAQ: COST) and Sheng Siong Group (SGX: OV8 / OTCMKTS: SHSGF) operate in different markets but share a powerful advantage: customers return frequently for everyday essentials. We compare their business models, competitive moats, financial strength and long-term growth prospects.

What Makes a Consumer Staples Business a “Moat”?

Costco: The Membership Model as a Competitive Advantage

Sheng Siong: Building a Local Grocery Moat

What Happens During a Recession?

Dividend and Shareholder Returns

Which Consumer Staples Stock Would I Prefer?

Get Smart: Boring Businesses Can Build Powerful Moats

🇸🇬 Why Has ST Engineering Become So Much More Valuable? We Went Back Through 10 Years of Results (The Smart Investor)

ST Engineering has transformed from a Singapore engineering company into a global aerospace, defence and technology group. We examine 10 years of results to uncover what has driven its growth and valuation.

ST Engineering 10 Years Ago vs Today – How Much Has the Business Changed?

The First Decade-Long Driver: Aerospace

The Second Driver: Defence and Public Security

The Third Driver: A Much Larger Order Book

The Fourth Driver: Acquisitions and Portfolio Expansion

Profit Growth: Did the Bottom Line Keep Up?

Free Cash Flow: Is the Growth Real?

The Dividend Story – How Has ST Engineering Rewarded Shareholders?

What About the Balance Sheet?

Why Has the Market Valued ST Engineering More Highly?

What Could Drive the Next 10 Years?

What Could Go Wrong?

Get Smart: The Business Behind the Bigger Price Tag

🇸🇬 Is Sembcorp Industries’ Dividend Growth Outlook Sustainable for 2H2026? (The Smart Investor)

Sembcorp Industries (SGX: U96 / FRA: SBOA / OTCMKTS: SCRPF) has been growing its dividend alongside its transformation into a global energy and infrastructure player. Can earnings and cash flow continue to support dividend growth in 2H2026 and beyond?

Sembcorp Industries’ Transformation: From Utilities to a Global Energy Player

Has Sembcorp’s Earnings Growth Kept Pace With Its Dividend Growth?

The Dividend Story

Free Cash Flow: The Real Test of Dividend Sustainability

The Renewable Energy Growth Engine

What Could Drive Earnings in 2H2026?

The Risks to Dividend Growth

Is Sembcorp Becoming a Better Dividend Growth Stock?

Valuation: Has the Market Already Priced In the Growth?

What Should Investors Watch in 2H2026?

Get Smart: Dividend Growth Needs a Stronger Engine Behind It

🇸🇬 CapitaLand Integrated Commercial Trust (CPAMF) Presents at BofA NY Global Real Estate Conference 2026 – Slideshow (Seeking Alpha)

🌍🌏 CapitaLand Integrated Commercial Trust (SGX: C38U / OTCMKTS: CPAMF) – First REIT listed in Singapore & largest proxy for Singapore commercial real estate. Germany + Australia properties. 🇼 🏷️

🇸🇬 Grab Holdings Limited (GRAB) Atome Financial Singapore Pte. Ltd – M&A Call – Slideshow (Seeking Alpha)

🌏 Grab Holdings Limited (NASDAQ: GRAB) – Superapp inSE Asia for mobility, deliveries, & digital financial services to millions of Southeast Asians. 🇼 🏷️

🇸🇬 Is Grab DOOMED?

No matter how you look at it, Grab Holdings Limited (NASDAQ: GRAB) is currently in a tough spot. It has seen a 53% drop over the past year. Is this just a setback, or a complete breach of trust? Let’s take a closer look…

Grab stock has fallen 53% from its high in September 2025. While the share price is plummeting, developments within the company are moving in the exact opposite direction. Today, I want to investigate the reasons why the stock has been punished so severely of late.

Let’s address the “fears & concerns.”

🇸🇬 Hafnia: High-Yield Payout Is Attractive, But Rate Normalization Limits Upside (Seeking Alpha) $ 🗃️

🌐 Hafnia Ltd (NYSE: HAFN) – Product & chemical tankers. Integrated shipping platform (technical management, commercial & chartering services, pool management & bunker desk. Singapore HQ. Subs. of BW Group. 🇼

🇮🇳 India / South Asia / Central Asia

🇮🇳 Wipro: The Order Book Needs To Earn Its Keep (Seeking Alpha) $ 🗃️

🌐 Wipro Ltd (NYSE: WIT) – IT, consulting & business process services. 🇼 🏷️

🇮🇳 Infosys: It Looks Cheap Technically, But It Isn’t Fundamentally (Seeking Alpha) $ 🗃️

🌐 Infosys (NYSE: INFY) – IT outsourcing services. 🇼 🏷️

🇮🇳 MakeMyTrip: Positive On Planned Indian Listing And Operational Resilience (Seeking Alpha) $ 🗃️

🇮🇳 Makemytrip (NASDAQ: MMYT) – Online travel services. 🇼

🇮🇳 Inside Adani Airports: $1 Billion Primary Fund Infusion (Smartkarma) $

Adani Enterprises (NSE: ADANIENT / BOM: 512599) entered airport operations only in 2019–20, but now manages eight airports and serves more than 23% of India’s passenger traffic.

The business has evolved from operating terminals to monetising the entire passenger journey through retail, food and beverage, duty-free, digital services, ground handling, cargo and city-side real estate.

Alpha Wave Global, Premji Invest, Temasek and BlackRock-managed funds will invest Rs 9,825 crore of primary equity at an approximately USD 18 billion pre-money valuation.

🇮🇳 Quality Power: India’s Power Sector Proxy, A Grid-Technology Franchise (Smartkarma) $

Quality Power Electrical Equipments Ltd (NSE: QPOWER / BOM: 544367) is moving from a specialist component maker toward a broader high-voltage technology platform spanning reactors, instrument transformers, power electronics and insulators.

Q1 FY27 total income rose 32.1% YoY; the group order book reached Rs. 1,945.5 crore, extending visibility into FY28.

Growth visibility has strengthened, but acquisition accounting, Turkey’s hyperinflation and a demanding valuation increase the importance of organic growth and operating cash flow.

🇮🇳 Nephrocare Health Services: Exporting India’s Dialysis Operating Model (Smartkarma) $

Nephrocare Health Services Ltd (NSE: NEPHROPLUS / BOM: 544647), which operates under the NephroPlus brand, has built a network of 550 dialysis clinics across 357 cities and five countries.

International operations now contribute about 45% of revenue, compared with roughly 30% around 18 months earlier. Higher overseas realisations are lifting revenue per treatment and margins.

The moat is not the dialysis machine. It is the operating layer around it: procurement scale, trained manpower, an in-house biomedical team, payer relationships, clinical protocols and technology.

🇮🇳 Tilaknagar Industries: From Balance-Sheet Repair To A Premium Spirits Platform (Smartkarma) $

Tilaknagar Industries Ltd (NSE: TI / BOM: 507205) reduced Debt from INR 1,199 crore (March 2019) to INR 119 crore (March 2024), while Finance costs fell from INR 184 crore (FY19) to INR 27 crore (FY24).

The operating turnaround was driven by brandy leadership, better realisations, cost control and operating leverage. EBITDA moved from negative INR 52 crore in FY20 to INR 185 crore in FY24

The INR 4,150 crore Imperial Blue Acquisition changed the company from a South-focused brandy player into a Pan-India, Multi-category Spirits Platform.

🇮🇳 NSE IPO: RHP Updates; It’s Not Running Away (Smartkarma) $

In this insight we discuss about updates from National Stock Exchange (NSEIN IN)’s RHP.

We discuss in detail various operational parameters and market share in key areas.

Finally, we discuss why NSE stock is not running away.

🇮🇳 Sonaselection India Limited IPO: Transforming into Technical Textile Integrated Manufacturer (Smartkarma) $

Sonaselection India Limited

Transforming from a processing-led model into an integrated textile player across yarn, technical textiles and RMG.

Entering specialised military-grade fabric manufacturing to capture higher-value textile segments

RMG Expansion: Moving downstream into ready-made garments to improve customer proximity and capture more value.

🇮🇳 A-One Steels India IPO: Can Vertical Integration And Green Energy Drive The Next Growth Phase? (Smartkarma) $

A-One Steels India operates across the entire steel value chain across 6 manufacturing facilities in Karnataka and Andhra Pradesh. This vertical integration provides better cost control, product flexibility, and margin-protection.

In FY26, total revenue reached ~INR4,202 crore with an EBITDA margin of 7.29% (INR303.64 crore EBITDA) and PAT rising to INR127.41 crore, significantly boosting ROCE (12.86%) and ROE (14.76%).

Operating with an 83.20% green energy mix and 38 MW of captive-power-assets (saving ~INR2/unit) and backward-integration projects including a 6,00,000 MTPA iron ore beneficiation plant and a manganese mining lease.

🇰🇿 Kaspi.kz: Strong, Growing, And Underappreciated (Seeking Alpha) $ 🗃️

🇰🇿 Kaspi.Kz: Rabobank Acquisition Unlocks Flywheel Opportunity In Turkey (Seeking Alpha) $ 🗃️

🇰🇿 Joint Stock Company Kaspi.kz 2026 Q2 – Results – Earnings Call Presentation (Seeking Alpha)

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

🌍 Middle East

🇮🇱 Elbit Systems Remains A Hold Despite Strong Momentum (Seeking Alpha) $ 🗃️

🌐 Elbit Systems Ltd (NASDAQ: ESLT) – Primary provider of the Israeli military’s land-based equipment & unmanned aerial vehicles. 🇼

🇹🇷 Hepsiburada: New Management Fights Macro Headwinds (Seeking Alpha) $ 🗃️

🇹🇷 Hepsiburada (NASDAQ: HEPS) or D-MARKET Electronic Services & Trading – eCommerce. KASPI (NASDAQ: KSPI / LON: 80TE / FRA: KKS) controlled. 🇼

🇹🇷 Turkish stocks slide in ‘fund run’ as investors withdraw $1bn (FT) $ ⛔ 🗃️

Turkish stocks slide in ‘fund run’ as investors withdraw $1bn Index provider MSCI raises prospect of cutting Turkey from emerging market to frontier status amid accusations of ‘co-ordinated trading’ by fund managers

🇹🇷 Turkish authorities rush to stem fallout from stock market scandal (FT) $ 🗃️

Funds frozen or liquidated and 38 people referred to prosecutors as regulators move to restore calm

Turkish authorities have frozen trading in funds run by seven asset managers and ordered 130 funds to be liquidated, as part of efforts to contain the fallout from a speculative bubble that has shaken the Istanbul stock market and threatened the savings of thousands of investors.

🌍 Africa

🌍 Dangote IPO is a test for African capitalism (FT) $ ⛔ 🗃️

[Dangote]

Landmark flotation could reshape how the continent invests in industry

🇿🇦 DRDGOLD: Turning A Gold Windfall Into A Lasting Infrastructure Advantage (Seeking Alpha) $ 🗃️

🇿🇦 DRD Gold (JSE: DRD / NYSE: DRD) – Gold mining company involved in the surface gold tailings retreatment business in South Africa. Exploration, extraction, processing & smelting activities. Sibanye Stillwater Ltd (JSE: SSW / NYSE: SBSW) controlled. 🇼 🏷️

🇿🇦 Momentum Group Limited 2026 Q4 – Results – Earnings Call Presentation (Seeking Alpha)

🌍 Momentum Group Ltd (JSE: MTM / FRA: M1A / OTCMKTS: MMTHF) – Life insurers & integrated financial services. 🇼 🏷️

🇿🇦 Prosus: Why I Was Right On Underperformance In The Long Term (Seeking Alpha) $ 🗃️

🌐 Prosus (AMS: PRX / JSE: PRX / FRA: 1TY / OTCMKTS: PROSY / PROSF) – Global investment group that invests & operates across sectors & markets with long-term growth potential. Majority-owned by South African MNC Naspers (JSE: NPN / FRA: NNWN / NNW0 / OTCMKTS: NAPRF / NPSNY). 🇼 🏷️

🇿🇼 Caledonia Mining Corporation Plc (CMCL) Analyst/Investor Day – Slideshow (Seeking Alpha)

🇿🇼 Caledonia Mining Corporation Plc (NYSEAMERICAN: CMCL) – Gold production, exploration & development company.

🌍 Eastern Europe & Emerging Europe

🇵🇱 LPP SA 2027 Q2 – Results – Earnings Call Presentation (Seeking Alpha)

🌍 LPP SA (WSE: LPP / FRA: 1RY) – Polish family company that dresses customers in nearly 40 global markets. Largest fashion company in Central & Eastern Europe. 5 clothing brands: Reserved, Cropp, House, Mohito & Sinsay. 🇼 🏷️

🇵🇱 Amica (AMC) – Cooking Up a Turnaround (Dismissed & Asset-Backed)

A Family-Controlled Appliance Maker at 0.42x TB Trying to Rebuild Margins After Years Of Decline

Amica SA (WSE: AMC / FRA: 9R1) is a Polish household-appliance manufacturer best known for cooking equipment such as ovens, hobs and cookers, with a broad European sales footprint. AMC has traded below P/TB 0.50x on only 5% of the trading days since late 2016 and now trades at 0.42x. The 10-year median pre-tax ROCE is 11%, and shareholders have received dividends during nine of the last ten years.

🇵🇱 Dino Polska and the Price of Perfect Execution

H1 volumes improved while margins and cash conversion still failed to prove the economics of expansion

Dino shares rallied on 21 August after results that did not look worthy of celebration. Like-for-like sales grew 0.3%. The EBITDA margin fell by 56 basis points. First-half operating cash flow barely moved.

The reaction still made sense. Investors were not paying for a strong half-year. They were paying for the possibility that the earnings decline had reached its trough. One datapoint supported that view: Dino appears to have sold considerably more units even while prices fell.

🌎 Latin America

🌎 One Hour Analysis: ($LILAP) Liberty Latin America’s 9% Preferred. What is John Malone Up To This Time? (Investing 501)

Since Liberty Latin America Ltd (NASDAQ: LILA / LILAK) distributed $LILAP as a special dividend in May, six insiders have spent over $33M acquiring shares at an average price of $20.46.

John Malone is well known for complex financial restructuring of his Liberty Media Empire. Starting with Liberty Media’s separation from TCI in 1991, there have been approximately 60 securities (counting tracking stocks and A and B shares) that have been created since then. The newest security is the Liberty Latin America 9% cumulative preferred

🌎 Ternium: Mexico Recovery Has Upside, But Cash Flow Still Matters (Seeking Alpha) $ 🗃️

🌎 Ternium S.A. (NYSE: TX) 🇱🇺 – Manufactures & processes steel products (including for oil & gas) with 18 production centers in Argentina, Brazil, Colombia, United States, Guatemala & Mexico. Subs. of Argentine-Italian conglomerate Techint. 🇼 🏷️

🌎 Part I: dLocal +90% Upside Potential! (TopSecretStocks)

Dlocal (NASDAQ: DLO) is down -77% over the past 5 years. Since Pedro Arnt (ex-CFO of MercadoLibre (NASDAQ: MELI)) took over the responsibility as CEO in March 2024, dLocal has quietly changed. I predict +90% Upside Potential!

Part I

Part I highlights the business overview, the total addressable market (TAM), key driver Pedro Arnt as CEO, and the results for the second quarter of 2026.

Business Overview

dLocal is a payment technology company specializing in emerging markets. Its platform enables global merchants to accept and make payments across Africa, Asia, the Middle East, and Latin America, all through a single integration, eliminating the need to connect dozens of local providers.

🇦🇷 Adecoagro: Potential Massive Commodity Windfall Available At Less Than Book Value (Seeking Alpha) $ 🗃️

🇦🇷 🇧🇷 🇺🇾 Adecoagro Sa (NYSE: AGRO) – Luxembourg HQ’s agro industrial company that produces & manufactures food & renewable energy. 3 segments: Farming; Sugar, Ethanol & Energy; & Land Transformation. 🏷️

🌎 Globant: Delivery Shift Creates High-Reward Bull Case (Seeking Alpha) $ 🗃️

🌐 Globant (NYSE: GLOB) – Luxembourg HQ’d. Argentina-founded IT & software development with a presence in 25+ countries. 🇼 🏷️

🇦🇷 Banco Macro: Weaker Operating Momentum Makes Me More Cautious (Seeking Alpha) $ 🗃️

🇦🇷 Banco Macro Sa (NYSE: BMA) – A universal bank providing a wide range of financial services with focus in low & mid-income individuals & SMEs. 🇼 🏷️

🇧🇲 Bank of N.T. Butterfield & Son: Accretive Acquisition Is Main Growth Driver (Seeking Alpha) $ 🗃️

🌐 Bank of NT Butterfield & Son Ltd (NYSE: NTB) – Specialized offshore financial services & wealth management. 🇼

🇧🇷 Foreign Capital Returns To Brazil As Goldman Clients See 20% Stock Rally If Bolsonaro Defeats Socialist (ZeroHedge) 🗃️

Brazil’s tightening presidential race could drive a sharp repricing of local equities.

A new Goldman Sachs survey of 70 global investors found that half see at least 20% upside in EWZ, the US-listed Brazil equity ETF, by year-end if right-wing challenger Flávio Bolsonaro defeats socialist President Luiz Inácio Lula da Silva. The first round is scheduled for Oct. 4, with a potential runoff on Oct. 25.

We just did a survey with 70 global investors about their cross-asset views in Brazil, the bottom line:

Equities is the least owned asset class (60% are either “very light” or “light”) and it is the vehicle this group sees the most upside (half see EWZ at least +20% by year end if Flavio wins) From my convos, local Equity investor positioning is a 6/10 while local Macro accounts are small in equities (3/10).

🇧🇷 Vale: Base Metals Are Supporting The Multiple (Seeking Alpha) $ 🗃️

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

🇧🇷 Ultrapar: The Stock Remains Cheap Even After Soaring Since The Iran War (Seeking Alpha) $ 🗃️

🌐 Ultrapar Participaçoes (NYSE: UGP) – Energy & logistics infrastructure conglomerate. 🇼

🇧🇷 CI&T: Uncertain If AI Productivity Can Turn Into Higher Revenue And Profits (Seeking Alpha) $ 🗃️

🌐 CI&T Inc. (NYSE: CINT) – Digital transformation consulting & engineering services company. 🇼

🇧🇷 Petrobras Q4 Dividends Create An Absurdity: Yield Exceeds P/E (Rating Upgrade) (Seeking Alpha) $ 🗃️

🌐🏛️ Petrobras (NYSE: PBR / PBR-A / BCBA: PBR / PETR4) or Petróleo Brasileiro SA – Explores, produces & sells oil & gas. 🇼

🇧🇷 Cosan: Why Income Investors Are Fleeing, And Why You Should Too (Seeking Alpha) $ 🗃️

🌎 Cosan SA (BVMF: CSAN3 / NYSE: CSAN) – Bioethanol, sugar & energy. 🇼

🇨🇱 Enel Chile S.A.: Cheap, Profitable, And Operating In Chile’s Next Great Energy Revolution (Seeking Alpha) $ 🗃️

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

🇲🇽 Bolsa Mexicana De Valores – Expect Good (Not Great) Returns From This High Dividend Payer (Seeking Alpha) $ 🗃️

🇲🇽 Bolsa Mexicana de Valores SAB de CV (BMV: BOLSAA / FRA: BC51 / OTCMKTS: BOMXF) – Fully integrated Exchange Group. Thesecond largest stock exchange in Latin America. 🇼 🏷️

🌐 Global

🌐 New fertiliser exporters blunt food crisis fears (FT) $ 🗃️

Countries outside the Gulf increase market share of urea exports as supplies through Strait of Hormuz collapse

🌐 Nebius Sees A Game-Changer With The Price Increases (Seeking Alpha) $ 🗃️

🌐 Nebius: You Don’t Raise Prices Into A Slowdown (Seeking Alpha) $ 🗃️

🌐 Nebius: The AI-Pocalypse Panic Is A Buying Opportunity (Seeking Alpha) $ 🗃️

🌐 Nebius: It’s Getting Worse And Worse (Seeking Alpha) $ 🗃️

🌐 Nebius: Why The Palantir Partnership Is A Game Changer (Rating Upgrade) (Seeking Alpha) $ 🗃️

🌐 Nebius: Pacing The Frontier Comes At A Price (Rating Downgrade) (Seeking Alpha) $ 🗃️

🌐 Nebius: The Bear Thesis Is Getting Weaker (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. 🇼 🏷️

📅 Earnings Calendar

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):

📅 Economic Calendar

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).

🗳️ Election Calendar

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

~~Russian Federation~~ ~~Russian Federal Duma~~ ~~2026-09-18 (d) 2026-07-20 (d) Confirmed~~
Morocco Moroccan Chamber of Representatives 2026-09-23 (d) 2026-09-23 (d) Confirmed
Brazil Brazilian Federal Senate 2026-10-04 (d) Confirmed 2022-10-02
Brazil Brazilian Chamber of Deputies 2026-10-04 (d) Confirmed 2022-10-02
Brazil Brazilian Presidency 2026-10-04 (d) Confirmed 2022-10-30
Czech Republic Czech Senate 2026-10-09 (d) Confirmed 2024-09-27
Bulgaria Bulgarian Presidency2026-10-25 (d) 2026-10-25 (d) Confirmed
Israel Israeli Knesset 2026-10-27 (d) Confirmed 2022-11-01
Bahrain Bahraini Council of Representatives 2026-11-30 (t) Date not confirmed 2022-11-12
Nigeria Nigerien Presidency 2027-01-16 (d) Confirmed
Nigeria Nigerian Senate 2027-01-16 (d) Confirmed
Nigeria Nigerian House of Representatives 2027-01-16 (d) Confirmed

📅 Emerging Market IPO Calendar/Pipeline

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):

🏁 Emerging Market ETF Launches

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:

04/10/2026 – Baron Emerging Markets Select ETF – BCEM
04/08/2026 – FT Vest Laddered Emerging Markets Buffer ETF – BUFE
03/12/2026 – T. Rowe Price Emerging Markets Equity Research ETF – TEMR
03/06/2026 – MFS Blended Research Emerging Markets Equity ETF – BREE
02/19/2026 – VanEck India Select ETF – INDZ
02/05/2026 – Virtus Emerging Markets Dividend ETF – VEM
01/21/2026 – Templeton Emerging Markets Debt ETF – TEMD
12/17/2025 – Man Active Emerging Markets Alternative ETF – MEMA
12/04/2025 – Kraneshares Dragon Capital Vietnam Growth Index ETF – KPHO
11/20/2025 – KraneShares 2x Long BIDU Daily ETF – KBDU
10/25/2025 – Lazard Emerging Markets Opportunities ETF – EMKT
10/16/2025 – iShares Emerging Markets Bond Active ETF – BREM
10/07/2025 – VanEck Emerging Markets Bond ETF – EMBX
09/17/2025 – Vanguard Emerging Markets Ex-China ETF – VEXC
09/13/2025 – WisdomTree Asia Defense Fund – WDAF
08/12/2025 – Neuberger Berman Emerging Markets Debt Hard Currency ETF – NEMD
07/15/2025 – OTG Latin America ETF – OTGL
06/21/2025 – FT Vest Emerging Markets Buffer ETF June – TJUN
06/18/2025 – AB Emerging Markets Opportunities ETF – EMOP
06/05/2025- Harbor Emerging Markets Equity ETF – EPEM
06/03/2025 – Russell Investments Emerging Markets Equity Active ETF – ZJUN
05/30/2025 – Emerging Markets Equity Active ETF – REMG
05/16/2025 – Harbor Emerging Markets Select ETF – EMES
04/02/2025 – Goldman Sachs India Equity ETF – GIND
03/21/2025 – FT Vest Emerging Markets Buffer ETF – March – TMAR
02/25/2025 – Touchstone Sands Capital Emerging Markets ex-China Growth ETF – TEMX
02/19/2025 – abrdn Emerging Markets Dividend Active ETF – AGEM
02/14/2025 – GMO Beyond China ETF – BCHI
02/06/2025 – PLUS Korea Defense Industry Index ETF – KDEF
01/04/2025 – Simplify China A Shares PLUS Income ETF – CAS

🚽 Emerging Market ETF Closures/Liquidations

Frontier and emerging market highlights:

03/13/2026 – Polen Capital Emerging Markets ex China Growth ETF – PCEM
11/28/2025 – Rayliant Quantamental China Equity ETF – RAYC
10/30/2025 – Direxion Daily MSCI Emerging Markets ex China Bull 2X – XXCH
08/28/2025 – Range India Financials ETF – INDF
07/17/2025 – First Trust Brazil AlphaDEX Fund – FBZ
07/07/2025 – Franklin FTSE Hong Kong ETF – FLHK
05/20/2025 – KraneShares Dynamic Emerging Markets Strategy ETF – KEM
05/20/2025 – KraneShares MSCI All China Index ETF – KALL
04/08/2025 – First Trust TCW Emerging Markets Debt ETF – EFIX
04/03/2025 – JAKOTA K-Pop and Korean Entertainment ETF – KPOP
02/14/2025 – Global X MSCI Emerging Markets Covered Call ETF – EMCC
01/06/2025 – iShares Frontier and Select – FM

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 (September 21, 2026) was also published on our Substack.

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1 thought on “Emerging Market Links + The Week Ahead (September 21, 2026)”

ai bottom-up innovation

September 24, 2026 at 2:36 pm

The growth of global AI will create opportunities as well as regulatory challenges. It would be interesting to compare how different countries are approaching responsible AI adoption.