EM Fund Stock Picks & Country Commentaries (October 18, 2026)

As of mid-October, a number of September/Q3 fund updates (our continuously updated post containing all funds is here) along with new emerging market research is available:

🗄️ 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 Asia Fund Documents & Research

Asia Frontier Capital has the following updates:
- 🗄️🌏 AFC Asia Frontier Fund’s monthly newsletter (detailed economic and portfolio) is from the end of September (AFC: Uzbekistan Hits New Highs as Vietnam Enters FTSE Russell Emerging Markets Index – September 2026 Update) noted continuing sovereign credit rating upgrades despite the war in the Middle East, Oman (and how FTSE Russell has added it to its watchlist for an Emerging Markets upgrade) and discussed an AFC research trip to Mongolia. Named or unnamed performers/transactions (that can be guessed) discussed or mentioned:
  - 📈🇱🇦 Laotian power producer
  - 📈🌏 mobile telecom operator in Asian frontier countries
  - 📈🇵🇬 Papua New Guinea gold miner
  - 📈🇴🇲 Omani fertiliser producer
  - 📈🇲🇳 Mongolian technology company
  - 🏧🇲🇳 Mongolian existing positions
  - 🇲🇳 Four unnamed Mongolian investee companies
  - 🇺🇿 Uzbek bank
  - 🇰🇿 Kazakh bank
  - 🇴🇲 Oman exposure
- 🗄️🇮🇶 AFC Iraq Fund’s September newsletter (economic and portfolio) discussed the Iraq Stock Exchange going live on the Abu Dhabi Stock Exchange’s Tabadul platform and Iraq’s oil export recovery picking up momentum.
  - 🇮🇶 Iraq Stock Exchange (ISX)
  - 🇦🇪 Abu Dhabi Stock Exchange (ADX) / Tabadul
  - 🇮🇶 Rabee Securities RSISX USD Index
- 🗄️🇺🇿 AFC Uzbekistan Fund’s September newsletter discussed the Uzbek Commodity Exchange launching derivatives trading and a visit to the Tashkent Stock Exchange update on plans for further developing capital markets infrastructure.
  - 🇺🇿🏛️ The Uzbek Commodity Exchange (TSE: URTS) – The largest trading platform in Central Asia & a dynamically developing commodity exchange in the CIS countries. 🏷️
  - 🇺🇿🏛️ Uzbekistan National Investment Fund (UzNIF) (LSE: UZNF) – Various local portfolio assets.
- 🗄️🇻🇳 AFC Vietnam Fund’sSeptember newsletter discussed looking beneath the surface of the Vietnamese market, market developments, Vietnam entering the emerging market universe, strong growth / attractive valuations, FDI continues to accelerate, Vietnam-U.S. trade and investment continue to strengthen, looking beyond September, etc. Stocks discussed or mentioned:
  - 📈🇻🇳 Vingroup JSC (HOSE: VIC) – Diversified conglomerate: Industrials & technology, real estate & services, & social enterprises. 🇼
  - 🇻🇳 Phu Tai Corporation (HOSE: PTB) – Manufacture & trade of stone & wood products.
  - 🇻🇳 Lam Dong Mineral and Building Material JSC (HOSE: LBM) – Precasted concrete, tuynel brick, construction stone, refractory material, kaolin & Bentonite.
  - 🇻🇳 Minh Phu Seafood Corp (HNX: MPC) – Shrimp farming & processing.
  - 🇻🇳 Agriculture Bank Insurance JSC (HNX: ABI) – Insurance.
  - 🇻🇳🏛️ Military Insurance Corp (HOSE: MIG) – Insurance.
  - 🇺🇸 SpaceX / Starlink
  - 🇺🇸 Tesla
  - 🇺🇸 Amazon
  - 🇹🇼 Wistron Corp (TPE: 3231 / OTCMKTS: WICOF) – Electronics ODM that was the manufacturing arm of Acer Inc (TPE: 2353 / FRA: AC5G / OTCMKTS: ACEYY). Notebook & desktop computers, servers, storage, LCD TVs, handheld devices, medical applications etc. 🇼 🏷️
🗄️🌏 The detailed commentaries (economic and portfolio – links are under the Commentary tabs for each fund)for Matthews Asia Funds (Various) (Matthews Asia Dividend Fund (NASDAQ: MAPIX) / Matthews Asia ex Japan Dividend Fund (0P000174OA) / Matthews Asia Innovative Growth Fund / Matthews Asia Small Companies Fund (0P0000VP49) / Matthews Asia Sustainable Future Fund / Matthews China Dividend Fund (NASDAQ: MCDFX) / Matthews China Fund (NASDAQ: MCDFX) / Matthews China Small Companies Fund (NASDAQ: MCSMX) / Matthews India Fund (NASDAQ: MINDX) / Matthews Japan Fund (NASDAQ: MJFOX) / Matthews Pacific Tiger Fund (NASDAQ: MAPTX)) are from the end of Q3.
🗄️🌏 Platinum Asia Fund’s latest monthly factsheet (detailed economic and portfolio) is from the end of September. Stocks discussedor mentioned:
- 📈🇰🇷 EO Technics Co Ltd (KOSDAQ: 039030) – Total laser solutions provider.
- 📈🇰🇷 Eugene Technology (KOSDAQ: 084370) – Semiconductor manufacturing equipment (e.g. single wafer process tools).
- 📈🇰🇷 HPSP (KOSDAQ: 403870) – High pressure annealing semiconductor equipment.
- 📈🇰🇷 Soulbrain (KOSDAQ: 357780) – Semiconductor materials (CVD/ALD materials, etchant & cleaning agents, CMP slurries, plating agents, hydrofluoric acid/buffered oxide etchants, etc.). 🏷️
- 📉🇨🇳 Contemporary Amperex Technology Co Ltd (CATL) (SHE: 300750 / HKG: 3750 / SGX: HCCD / OTCMKTS: CYATY / CTATF) 🇨🇳 – World’s largest EV battery maker. 🇼 🏷️
- 🇺🇸 Micron
- 🇹🇼 Taiwan Semiconductor Manufacturing Company (TSMC) (NYSE: TSM) 🇼 🏷️
- 🇺🇸 Terafab
- 🇺🇸 Meta

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

🌏 New Asia Fund Documents & Research

To read more, please visit this article on Substack

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