EM Fund Stock Picks & Country Commentaries (August 9, 2026)

As of early August, I am in the middle of doing an almond harvest in 100+ degree heat (spent the last few days hand knocking nuts still left on a few thousand trees with sweeping starting on Monday with everything needing to be picked before the next 10-day irrigation cycle late in the week) – so this posts covers some Q1 updates to our EM Fund Stock Picks & Country Commentaries (Emerging Market Funds)(our continuously updated post containing all funds is here) with our normal free Monday post probably going to be later in the week.

🗄️ Fund documents / updates; ⚠️ Disclosures or restricted access e.g. based on your location, investor status, etc.; 🇼 Wikipedia page; 🔬 Research analysis (including articles/blog posts from fund managers, etc.); 🎥 Video; 🎙️ Podcast; 🎬 Webinar; 📝 Transcript; 📰 Newspaper/magazine article; 📯 Press release; 💻 Substack/blog/website article; ✅ Our own posts; 🗃️ Linked archived article; ⏰ Upcoming webinar or event.

📈 Contributors; 📉 *Detractors;🏧 Transactions; 🚩Discusses/mentions stocks by name.***

Disclaimer: We usually use Deepseek to summarize or extract stock names and assign performance emojis. Like all AI, Deepseek is not perfect and regularly adjusts their model which can lead to mistakes/misunderstandings/misinterpretations of the data its given. 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.

🇿🇦🌍 New South Africa Fund Documents & Research

Note: Perhaps from being outside major global financial centers in a country that’s both developed & emerging (or “first” & “third world”), South African fund managers and their research tend to have a refreshing take on global markets…

🗄️🌐 Coronation Global Emerging Markets Equity Strategy (Institutional)’s detailed market commentary (economic and portfolio) contained in the comprehensive June factsheet are from the end of Q2 (also seeCoronation Global Emerging Markets Fund). Stocks discussed or mentioned:
- 🏧🇹🇼 Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE: TSM) 🇼 🏷️
- 📉🏧🇰🇷 Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) 🇼 🏷️
- 🏧🇰🇷 SK Hynix (KRX: 000660) – Manufactures, distributes & sells semiconductor products in Korea, China, Asia, USA & Europe. DRAM, NAND storage products, SSD, MCP & CMOS image sensors for server, networking, mobile, PC, consumer & auto applications. 🇼 🏷️
- 📈🏧🌐 Delivery Hero (ETR: DHER / FRA: DHER / OTCMKTS: DLVHF) – Global online food delivery platform. OwnsTalabat Holding PLC (DFM: TALABAT).🇼
- 📈🇳🇱 ASML Holding NV (NASDAQ: ASML) 🇼
- 📈🇮🇳 Makemytrip (NASDAQ: MMYT) – Online travel services. 🇼
- 🇨🇳 Alibaba (NYSE: BABA) 🇰🇾 🇼🏷️
- 🇨🇳Xiaomi (HKG: 1810 / FRA: 3CP / OTCMKTS: XIACF) 🇰🇾 – Electronics and smartphone maker.🇼 🏷️
- 🇧🇷🏛️Petrobras (NYSE: PBR / PBR-A / BCBA: PBR / PETR4) or Petróleo Brasileiro SA – Explores, produces & sells oil & gas. 🇼
- 🇨🇳 PDD Holdings (NASDAQ: PDD) orPinduoduo – Pinduoduo & Temu eCommerce marketplaces. 🇼 🏷️
- 📉🇧🇷 Prio SA (BVMF: PRIO3) or Petro Rio – Largest independent oil & gas production company in Brazil.
- 📉🏧🇧🇷Nu Holdings (NYSE: NU) – Digital banking platform / fintech. 🇼
- 📉🇭🇰AIA Group (HKG: 1299 / FRA: 7A2 / OTCMKTS: AAIGF) 🇭🇰 – Largest publicly listed life insurance group in Asia-Pacific – operating in 18 markets. 🇼 🏷️
- 📉🏧🌎 MercadoLibre (NASDAQ: MELI) 🇼 🏷️
- 📉🇰🇷 Coupang, Inc. (NYSE: CPNG) 🇺🇸 – eCommerce platform + Coupang Eats, Coupang Play, international & fintech initiatives. 🇼🏷️
- 📉🇨🇳JD.com (NASDAQ: JD / SGX: HJDD) – Supply chain-based technology & service provider. One of the 3 largest eCommerce platforms in China. 🇼 🏷️
- 🏧🇮🇳 Mahindra & Mahindra Ltd (NSE: M&M / BOM: 500520 / FRA: MOM / OTCMKTS: MAHMF) – Automotive, farm equipment, financial services, real estate, hospitality & others segments. 🇼🏷️
- 🏧🇮🇳 Bajaj Finance Limited (NSE: BAJFINANCE / BOM: 500034) – Deposit-taking non-banking financial company.Subs. of Bajaj Group. 🇼
- 🏧🇮🇳 HDFC Bank (NYSE: HDB) or Housing Development Finance Corp – One of India’s leading private banks. Nationwide distribution network. 🇼 🏷️
- 🏧🇮🇳 ICICI Bank (NYSE: IBN) – MNCbank & financial services. Wide range of banking & financial services for corporate & retail customers. 🇼 🏷️
- 🏧🇰🇷Kia Corp (KRX: 000270 / OTCMKTS: KIMTF) – Manufactures & sells vehicles in South Korea, North America & Europe. 🇼 🏷️
- 🏧🇨🇳 YUM China (NYSE: YUMC) 🇺🇸 – China’s largest restaurant company. Exclusive right to operate & sub-license KFC, Pizza Hut & Taco Bell + owns Little Sheep & Huang Ji Huangt. Partnered with Lavazza. 🇼 🏷️
- 🏧🇨🇳 H World Group (NASDAQ: HTHT) – Leased & owned or franchised hotel models. Chairman was a co-founder of Trip.com (NASDAQ: TCOM). 🇼 🏷️
- 🏧🇹🇼🇨🇳Asia Vital Components Co Ltd (TPE: 3017 / OTCMKTS: AVMPF) – Thermal solutions & casing systems. 🇼🏷️
- 🏧🇨🇳 Tencent (HKG: 0700 / LON: 0LEA / FRA: NNND / SGX: HTCD / OTCMKTS: TCEHY) 🇰🇾 🇼 🏷️
- 🏧🌏 Grab Holdings Limited (NASDAQ: GRAB) – Superapp inSE Asia for mobility, deliveries, & digital financial services to millions of Southeast Asians. 🇼 🏷️
- 🏧🇨🇳 Baidu (NASDAQ: BIDU) 🇰🇾 – Internet-related services, products & AI. Chinese search engine, Baidu Maps, etc. 🇼 🏷️
- 🏧🇲🇴 🇵🇭 🇨🇾Melco Resorts & Entertainment Ltd (NASDAQ: MLCO) – Management & development of casino gaming & entertainment resort facilities. 🇼

🌐 New Emerging Market Fund Documents & Research

🌐 EM Bonds

🗄️🌐 Artisan Emerging Markets Debt Opportunities Fund (NASDAQ: APFOX)’s detailed quarterly commentary (economic and portfolio) is from the end of Q2. It discussed performance, the investing environment, and portfolio positioning.

🌐 EM Equity

🗄️🌐abrdn Emerging Markets ex-China Fund, Inc. (NYSE: AEF) detailed quarterly commentary (economic and portfolio) is from the end of Q2 – a number of stocks were discussed or mentioned:
- 📈🇰🇷 SK Hynix (KRX: 000660) – Manufactures, distributes & sells semiconductor products in Korea, China, Asia, USA & Europe. DRAM, NAND storage products, SSD, MCP & CMOS image sensors for server, networking, mobile, PC, consumer & auto applications. 🇼 🏷️
- 📈🇹🇼 ASE Technology Holding (NYSE: ASX) – Independent semiconductor manufacturing services in assembly, test, materials & design manufacturing. 🇼 🏷️
- 📈🇹🇼Chroma Ate Inc (TPE: 2360) – Taiwanese automated testing company. Semiconductor testing for AI-artificial intelligence. 🇼 🏷️
- 📈🇹🇼 Accton Technology (TPE: 2345) – Open hardware platforms for data center, carrier access, campus, SD-WAN networks & IoT. 🇼 🏷️
- 📉🇰🇷 Samsung Electronics (KRX: 005930 / 005935 / LON: BC94 / FRA: SSUN / OTCMKTS: SSNLF) 🇼 🏷️
- 📉🇲🇽 Grupo Mexico (BMV: GMEXICOB / FRA: 4GE / OTCMKTS: GMBXF) – Mining, Transportation, Infrastructure & Fundacion Grupo Mexico. ASARCO (American Smelting & Refining Company) + Southern Copper (NYSE: SCCO). 🇼🏷️
- 📈🇰🇷🅿️ Samsung C&T Corp (KRX: 028260 / 02826K) – 4 independent business groups – Engineering & Construction, Trading & Investment, Fashion, & Resort. 🇼 🏷️
- 📈🏧 [Detracted due to underweight]🇰🇷 SK Square (KRX: 402340) – Invests in semiconductor, information & communication technologies. 🇼🏷️
- 📉🇧🇷 Prio SA (BVMF: PRIO3) or Petro Rio – Largest independent oil & gas production company in Brazil.
- 📉[Not owning it contributed to relative performance] 🇧🇷🏛️Petrobras (NYSE: PBR / PBR-A / BCBA: PBR / PETR4) or Petróleo Brasileiro SA – Explores, produces & sells oil & gas. 🇼
- 📉🇰🇿🏛️ National Atomic Company Kazatomprom JSC (KASE: KZAP / FRA: 0ZQ / OTCMKTS: NATKY)- World’s largest uranium producer. Import & export of uranium, rare metals, nuclear fuel for nuclear power plants. 🇼
- 📉🇮🇩🏛️ Bank Negara Indonesia (IDX: BBNI / FRA: BKE1 / OTCMKTS: PBNNF / PTBRY) – Originally established as Indonesia’s central Bank. 🇼 🏷️
- 📉🇮🇩🏛️ Telkom Indonesia Persero Tbk PT (NYSE: TLK) – Fixed line telephony, internet & data communications.🇼🏷️
- 🏧🇲🇽 Arca Continental SAB de CV (BMV: AC / FRA: AJZ / OTCMKTS: EMBVF) – 2nd-largest Coca-Cola bottler in Latin America. Mexico Beverages / United States Beverages / South America Beverages / Food and Snacks. 🇼 🏷️
- 🏧🇿🇦 Gold Fields (JSE: GFI / NYSE: GFI) – One of the world’s largest gold mining firms. 9 operating mines in Australia, Peru, South Africa & Ghana (including the Asanko JV) & 2 projects in Canada & Chile. 🇼 🏷️
- 🏧🇰🇷 Hyundai Mobis (KRX: 012330) formerly Hyundai Precision & Industries Corporation – “Parts and service” arm for Korean automakers Hyundai Motor Company, Genesis Motors & Kia Motors. 🇼 🏷️
- 🏧🇵🇱 InPost SA (AMS: INPST / LON: 0A6K / FRA: 669) – Specializes in parcel locker service + courier, package delivery & express mail service. 🇼🏷️
- 🏧🇧🇷Localiza Rent a Car SA (BVMF: RENT3 / OTCMKTS: LZRFY) – Largest mobility network in South America. 🇼
- 🏧🇸🇦🏛️ Saudi Arabian Oil Co (TADAWUL: 2222) or Saudi Aramco– One of the world’s largest integrated energy & chemicals companies. 🇼

📈 Contributors; 📉 Detractors;🏧 Transactions; 🚩Discusses/mentions stocks by name.