🌐 Emerging Market Stock Picks (November 2025)

🤖 DeepSeek Analysis + SE Asia (Indonesia, Singapore & Thailand stocks), Middle East (Bahrain, Egypt, Kuwait, Oman, KSA, UAE stocks), Eastern Europe (Hungary & Poland stocks) & Mexico stock picks.

As discussed in more detail last month, I have been trying to improve these posts by finding additional resources for other countries or regions to include in them to further build up our Frontier & Emerging Market Stock Index.

Specific stocks covered in this post (with a focus on some countries or stocks that are hopefully more accessible to retail investors via Interactive Brokers or via a foreign listing - see our first posts - 🌐 Emerging Market Stock Picks (Mid-March 2025), 🌐 Emerging Market Stock Picks (Early April 2025), 🌐 Emerging Market Stock Picks (April 2025), 🌐 Emerging Market Stock Picks (May 2025), 🌐 Emerging Market Stock Picks (June 2025), 🌐 Emerging Market Stock Picks (July 2025), 🌐 Emerging Market Stock Picks (August 2025), 🌐 Emerging Market Stock Picks (September 2025) & 🌐 Emerging Market Stock Picks (October 2025)) plus further DeepSeek analysis of this post:

[Note: On desktop browsers, an autogenerated table of contents will appear on the left side linked to each stock. I will add those links below after publishing/emailing this post… ]

• Asia

  • East Asia

    • 🇨🇳 China / 🇭🇰 Hong Kong / 🇲🇴 Macau

    • 🇰🇷 Korea

    • 🇹🇼 Taiwan

  • SE Asia

    • 🇮🇩 Indonesia - Geo Energy Resources, Bank KB Indonesia PT Tbk, Bank Rakyat Indonesia Tbk PT, PT Bumi Resources Minerals Tbk, PT Hatten Bali Tbk, Rukun Raharja Tbk PT, PT Sinergi Inti Andalan Prima Tbk, Blue Bird Tbk PT, PT Indofood CBP Sukses Makmur Tbk, Telkom Indonesia Persero Tbk PT, PT Bank Mandiri Tbk, Bumi Resources Tbk PT, Bumi Serpong Damai Tbk PT, Metropolitan Kentjana Tbk PT, PT Nusantara Sawit Sejahtera Tbk, Charoen Pokphand Indonesia Tbk PT, MD Entertainment PT Tbk, Jayamas Medica Industri Tbk PT, PT Dayamitra Telekomunikasi Tbk, Astra International & Mitra Keluarga Karyasehat Tbk PT

    • 🇲🇾 Malaysia - Mechanical, Electrical and Plumbing (MEP) Stocks

    • 🇵🇭 Philippines

    • 🇸🇬 Singapore - Isoteam Ltd, Reclaims Global Ltd, United Overseas Bank / DBS Group / Singapore Exchange Limited, Soon Hock Enterprise, Hong Leong Asia Ltd, Seatrium Ltd, Keppel Infrastructure Trust, Wee Hur Holdings Ltd, Telechoice International Ltd, Ireit Global, Kimly Ltd, Starhill Global Real Estate Investment Trust, Sanli Environmental Ltd, CSE Global Ltd, Far East Hospitality Trust, Sembcorp Industries, Centurion Corporation Ltd, CapitaLand Investment, CDL Hospitality Trusts, UOL Group, Frencken, Food Empire Holdings, Venture Corporation, UMS Integration Ltd, Genting Singapore, Oversea-Chinese Banking Corp (OCBC), NetLink NBN Trust, Centurion Accommodation REIT, NTT DC REIT, First Real Estate Investment Trust, ASL Marine Holdings Ltd, Wilmar International, DFI Retail Group, Sheng Siong Group & Prime US REIT

      Singapore Broker’s Digest

    • 🇹🇭 Thailand - Bangkok Chain Hospital PCL, Stecon Group PCL, Land and Houses PCL, Thai Beverage PCL, Electricity Generating PCL, Airports of Thailand PCL, WHA Corporation PCL, CH Karnchang PCL, PTT Oil & Retail Business PCL, Minor International, Gulf Development PCL, Osotspa PCL, PTT Public Company Limited, Origin Property PCL, Mermaid Maritime PCL, Thai Airways International PCL, Thai Oil PCL, Berli Jucker PCL, Central Plaza Hotel PCL, Tidlor Holdings PCL, Pruksa Holding PCL, Erawan Group PCL, Srisawad Corporation PCL, Charoen Pokphand Foods, Banpu PCL, Ratch Group PCL, Central Pattana PCL, Carabao Group PCL, Com7 PCL, Plan B Media PCL, LPN Development PCL, Muangthai Capital PCL, Star Petroleum Refining PCL, Bangkok Expressway and Metro PCL, Bangkok Dusit Medical Services PCL, Central Retail Corporation PCL, PTT Global Chemical PCL, Thanachart Capital PCL, AP (Thailand) PCL, Thaifoods Group PCL, Bangkok Commercial Asset Management PCL, Asset World Corp PCL, Bumrungrad Hospital PCL, CP ALL PCL, GFPT PCL, Betagro PCL, CP Axtra PCL, Indorama Ventures PCL, Supalai PCL, Quality Houses PCL, Dohome PCL, Bangchak Corporation PCL, True Corporation PCL, Global Power Synergy PCL, IRPC PCL, Home Product Center PCL, Thai Union Group PCL, Advanced Info Services PCL, i-Tail Corporation PCL & Krung Thai Bank PCL

  • South Asia

    • 🇮🇳 India

  • Middle East - LuLu Retail Holdings PLC, Dana Gas PJSC & Americana Restaurants International PLC

    • 🇧🇭 Bahrain - GFH Financial Group (GFH)

    • 🇰🇼 Kuwait - Talabat Holding PLC

    • 🇴🇲 Oman - OQ Base Industries

    • 🇸🇦 Saudi Arabia - Saudi Telecom Company SJSC & Saudi Basic Industries (SABIC)

    • 🇦🇪 United Arab Emirates (UAE) - Investcorp Capital PLC, Abu Dhabi Ports Company PJSC, Agthia Group, Amanat Holdings PJSC, Dubai Electricity and Water Authority PJSC, Presight AI Holding PLC, Aramex PJSC, Abu Dhabi National Insurance Company PSC, Commercial Bank International (CBI), National Central Cooling Company PJSC, E7 Group PJSC, RAK Ceramics PJSC, Agility Global PLC, ADNOC Gas PLC, Emaar Development PJSC, Emaar Properties PJSC, Air Arabia PJSC, ADNH Catering PLC, Dubai Taxi Company PJSC, ADNOC Logistics & Services PLC, Fertiglobe PLC, Parkin Company PJSC, Emirates Central Cooling Systems Corporation (Empower), Tecom Group PJSC, ADNOC Drilling Company PJSC, Pure Health Holding PJSC, Mashreq Bank, ADNOC Distribution PJSC & Dubai Financial Market PJSC

• Africa

  • 🇪🇬 Egypt - Telecom Egypt & Commercial International Bank (CIB)

  • 🇿🇦 South Africa - The Latest JSE Analyst Recommendations

• Eastern Europe & Emerging Europe

  • 🇭🇺 Hungary - Any Security Printing Co PLC, Duna House Holding, Graphisoft Park SE, AutoWallis PLC, ALTEO Energy Services PLC, Waberer’s International Nyrt & Masterplast Nyrt

  • 🇵🇱 Poland - Atm Grupa SA, Vigo Photonics SA, Fabrity Holding SA, Bloober Team SA, Mirbud SA, Enter Air SA, Ailleron SA, Noctiluca SA, XTPL SA, Skarbiec Holding, Elektrotim SA, Stalprofil SA, Torpol SA, Auto Partner SA, Apator SA, Cyber_Folks SA, Agora SA, Newag SA, ZUE SA, Sanok Rubber Company SA, Atende SA, Artifex Mundi SA, Dadelo SA, Wirtualna Polska Holding SA, Izostal SA, Makarony Polskie SA, ASBISc Enterprises Plc & Vercom SA

• Latin America

  • 🇲🇽 Mexico & Central America - Controladora Alpek SAB de CV & Alpek SAB de CV, Fibra Monterrey SAPI de CV, Grupo Aeroportuario del Sureste (ASUR), Grupo Aeroportuario del Pacífico & Alfa SAB de CV

I also saved a copy of this post and ran it through DeepSeek…:

🤖 DeepSeek Analysis

1. Asia – Indonesia & Singapore

2. Thailand

3. Middle East (UAE, Saudi Arabia, Bahrain)

4. Africa – Egypt

5. Eastern Europe – Hungary & Poland

6. Latin America – Mexico

Summary of Why These Stocks Stand Out

• High Dividend Yielders

• Deep Value (Low P/B)

• Growth/Niche Leaders

• Safe Income Plays

• Merger/Catalyst Stories

And as always, this post is provided for informational purposes only (and to make your life easier…). It does not constitute investment advice and/or a recommendation…

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Asia

East Asia

🇨🇳 China / 🇭🇰 Hong Kong / 🇲🇴 Macau

Note: For more China & Hong Kong stock picks or ideas, see our monthly China & Hong Kong Stock Picks posts…

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🇰🇷 Korea

Note: For more Korean stock picks or ideas, see our monthly Korean Stock Picks posts…

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🇹🇼 Taiwan

Note: I have note seen any good Twitter/Substack/blog accounts or (free) equity research providers with good coverage of Taiwanese stocks (at least not in English). Please contact me if you know of any…

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SE Asia

Note: Various DBS sites (Insights Direct, DBS Treasures, etc.) have good coverage of SE Asia and some Chinese/Hong Kong stocks, but some sites are restricted by geography (need VPN) or are harder to search for new research pieces…

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🇮🇩 Indonesia

Geo Energy Resources

📰 Geo Energy’s 3QFY2025 below expectations but Chew of PhillipCapital maintains 59 cents target price (The Edge Singapore) Nov 27, 2025 $

• 🌏 Geo Energy Resources (SGX: RE4 / FRA: 7GE / OTCMKTS: GRYRF) - Mining, production & trading of coal. Indonesia based. 🏷️

• Price/Book (Current): 1.04

• Trailing P/E: 16.48 (no forward P/E) / Forward Annual Dividend Yield: 0.91% (Yahoo! Finance)

Bank KB Indonesia PT Tbk

🔬 BBKP: Building Momentum – Spec. BUY (Initiation) – TP at IDR 100 (Samuel Sekuritas Indonesia) Nov 25, 2025 ⚠️

• 🇮🇩 Bank KB Indonesia PT Tbk (IDX: BBKP) - integrated financial services to micro, SME, consumer & commercial businesses. 🏷️

• Price/Book (Current): 1.68

• Trailing P/E: 38.00 (no forward P/E) / Forward Annual Dividend Yield: N/A (Yahoo! Finance)

Bank Rakyat Indonesia Tbk PT

🔬 PT Bank Rakyat Indonesia (Persero) Tbk - 9M25: Solid Operational Metrics Amid Weakening Profitability (Kiwoom Sekuritas Indonesia) November 25, 2025 ⚠️

🔬 BBRI: BUY (Maintained), TP at 4,400 – 3Q25 Results: Simply in-line (Samuel Sekuritas Indonesia) 03 November 2025 ⚠️

🔬 BBRI - 9M25 earnings: in line with our forecast, yet below consensus (KB Valbury Sekuritas) 03 November 2025 ⚠️

• 🇮🇩🏛️ Bank Rakyat Indonesia Tbk PT (IDX: BBRI / FRA: BYRA / OTCMKTS: BKRKF / BKRKY) - One of the largest state-owned banks in Indonesia. 🇼 🏷️

• Price/Book (Current): 1.68

• Forward P/E: 8.90 / Forward Annual Dividend Yield: 11.23% (Yahoo! Finance)

PT Bumi Resources Minerals Tbk

🔬 BRMS - Riding the Gold Wave (KB Valbury Sekuritas) 21 November 2025 ⚠️

🔬 BRMS 3Q25 Results: Better Results, Better TP (Samuel Sekuritas Indonesia) Nov 5, 2025 ⚠️

• 🇮🇩 PT Bumi Resources Minerals Tbk (IDX: BRMS / FRA: BUR) - Multi minerals mining (copper, gold, zinc & lead). 🇼 🏷️

• Price/Book (Current): 6.81

• Forward P/E: 0.59 / Forward Annual Dividend Yield: N/A (Yahoo! Finance)

PT Hatten Bali Tbk

🔬 PT Hatten Bali Tbk - High-Season Lift, Margins Still Squeezed (Kiwoom Sekuritas Indonesia) November 18, 2025 ⚠️

• 🇮🇩 PT Hatten Bali PT Tbk (IDX: WINE) - Production & sale of grape wine. 🏷️

• Price/Book (Current): 1.63

• Trailing P/E: 13.41 (no forward P/A) / Forward Annual Dividend Yield: 1.75% (Yahoo! Finance)