Emerging Market Links + The Week Ahead (July 17, 2023)
BRICS gold backed currency, China's regulatory crackdown wiped $1.1T off Chinese Big Tech, most coal reliant countries, various EM stock picks and the week ahead for emerging markets.
Although the Western mainstream media is not reporting it, a new gold-backed trade currency is on the BRICS meeting agenda for August 22—24 in Johannesburg. We have a lengthy piece about how such a currency might work and impact US aligned countries. If anything at all, it could provide an alternative for non-US aligned countries to do trade settlements in something other than the USD.
Meanwhile, it seems the harsh COVID lockdowns and regulatory crackdowns have broken many people in China. A visiting Chinese Yale professor to China just made some interesting observations on Twitter:
It was still possible, even last July, for some to write off economic headwinds as situational to the pandemic, but now the pandemic is over, and the long term problems that academics have been harping about for years—demographics, local government finances, real estate bubbles, low consumption, etc.—are no longer avoidable regardless of one’s socioeconomic position. The amount of governmental action (and money) needed to arrest this slide into systemic pessimism seems… quite enormous.
And:
I’m not sure we knew/could have known this from the outside. One rule of thumb in the pre-2022 years was that outside perceptions of China were almost always much more negative than domestic sentiment on the ground. That was probably even true in early 2022. This is the first time I’ve ever seen domestic sentiment so down, and it’s a seismic shift.
In other words, the Chinese are becoming more like the Japanese right after their bubble economy went bust…
Finally, we have plenty of potential stock picks to consider for this week…
Emerging Market Stock Pick Tear Sheets
$ = behind a paywall
Emerging Market Stock Pick Tear Sheets (July 1-15, 2023)
Restaurant stock picks (China/Hong Kong, India, Mexico, South Africa & Taiwan), East & SE Asian stock picks from Morningstar HK & Singapore and South African stock picks from Business Day TV.
Alsea (BMV: ALSEA / FRA: 4FU / OTCMKTS: ALSSF): Seeing Robust Starbucks and QSR Growth
Morningstar Hong Kong & Singapore Stock of the Week (Q1 2023) Partially $
Includes: I-Mab Biopharma, Kuaishou, PDD vs. JD.com, Link REIT, Shenzhou International, Japan Post Bank, Sumitomo Mitsui Financial Group, Sumitomo Mitsui Trust Holdings, Mitsubishi UFJ Financial Group, Grab vs. SEA, Sands China, Tencent, Country Garden Services, Singapore Airlines, Yum China, China Merchants Bank & China Mobile
Barbeque Nation (NSE: BARBEQUE / BOM: 543283): India’s Successful Homegrown Casual-Dining-Restaurant
Haidilao (HKG: 6862 / FRA: 8HI / OTCMKTS: HDALF): Cooking Up a Turnaround? $
Emerging Market Stock Picks / Stock Research
$ = behind a paywall
Introducing Ping An (Investor Insights Asia) $
Note: Insurer Ping An (HKG: 2318 / OTCMKTS: PNGAY) is one of the three largest integrated financial groups in China.
In this article, we introduce financial conglomerate Ping An Insurance (Group) Company of China (中国平安保险(集团))(HKEX: 2318)(SHA: 601318), also known more simply as just Ping An (中国平安). Though most commonly known as an insurance company, Ping An also has an asset management business and is active in retail, corporate, and investment banking, as well as the financial technology (fintech) and health technology (healthtech) industries.
Introducing China's Auto Industry (Part 3) (Investor Insights Asia)
This article is the final installment of our Overview of China's Auto Industry series. In Part 1, we examined the size and scale of China's automobile industry in the global context and summarized key policy developments that shaped the sector's evolution. In Part 2, we introduce a selection of the top 15 Chinese auto companies and present statistics on China's bestselling automakers and car models. In this article, we discuss some key trends that can shape and define the future of China's auto industry.
This article is part of our China auto industry series, which includes:
An Overview of China's Auto Industry: Part 1, Part 2, and Part 3
Standard State-Owned: Changan Automobile, SAIC (Part 1 and Part 2)
Value-For-Money State-Owned: Wuling Motors
Traditional Private: Great Wall Motor, Geely, BYD (Part 1 and Part 2)
Unisound AI Technology IPO: Speech Recognition AI Unicorn And Developer of LLM UniGPT (Smart Karma) $
Founded in 2012, Unisound AI Technology [Wikipedia] is a Beijing-based pioneer in Artificial General Intelligence (AGI). The company offers easy-to-deploy AI products and solutions in China.
Unisound AI Technology seeks to raise capital for R&D activities, international expansion, and general working capital purposes. The company chose CICC and Haitong to tap capital markets with HK IPO.
I like growing brand recognition, in-house 60B-parameter LLM UniGPT, high growth in the Smart Life segment, and the opportunity to sell self-developed proprietary AI chips in China.
International Housewares Retail (1373 HK) (Asian Century Stocks)
Hong Kong discount retailer at half the global peer group multiple
International Housewares Retail (HKG: 1373 / OTCMKTS: IHSWF) - (US$268 million) (“IH Retail”) is a Hong Kong-based discount retailer of housewares goods.
The stores mostly operate under the “Japan Home Centre” brand name. The products are exceedingly cheap, closer to dollar store pricing than anything else.
IH Retail can achieve these low prices by cutting out the middlemen. Today, over 40% of the products are private label goods, and the rest are branded products meant to entice customers to come to the stores. Their low prices explain why the company has achieved a 5% same-store sales growth － year in, year out.
As Northern China Suffers Record High Temperatures, Shares in Power Producers Are Up (Morningstar Hong Kong)
[Atour Lifestyle (ATAT US, BUY, TP US$35) Preview]: Retail and Summer Travelling Are Two Catalysts (Smart Karma) $
NOTE: Atour Lifestyle Holdings Ltd (NASDAQ: ATAT) is a leading hospitality and lifestyle company in China, with a distinct portfolio of lifestyle hotel brands.
We expect Atour to report 2Q23 revenue and non-GAAP NI at 94% YoY and 259% YoY, which is 22% and 20% above BBG consensus respectively.
We expect Atour’s RevPAR in 3Q23/2023 increase to 110%/114% of corresponding 2019 level from previous estimate at 105%/112%.
We maintain the stock as BUY rating, and maintain TP at US$35 because the operational gains has been mitigated by FX loss in terms of valuation
[Tencent Music (TME US, SELL, TP US$6) Preview]: Competition Is Still a Concern, Maintain SELL (Smart Karma) $
Tencent Music Entertainment Group (NYSE: TME)
We expect the 2Q23 online music revenue growth to be 34.4% YoY, driven by more promotions to drive up users’ retentions;
We anticipate the 2Q23 social entertainment growth rate to be (12.9%) YoY, due to intense competition and strengthened regulatory in live streaming.
We expect TME's 2Q23’s rev./non-GAAP net income to be (1.8%)/ (3.9%) vs cons. We maintain SELL because of continuous pressure from Bytedance’s Soda Music, Wechat Video Account and Kuaishou Technology (HKG: 1024 / 81024 / LON: 0A74 / OTCMKTS: KUASF / KSHTY).
Black Sesame test drives into Hong Kong, coasting on new rules for high-tech hot-shots (Bamboo Works)
Black Sesame has applied to list in Hong Kong (preliminary prospectus), becoming the first applicant under newly relaxed rules allowing IPOs for young companies with little or no revenue.
The company was founded in 2016 but only started generating revenue in 2020, which has grown rapidly since then but still totaled just $23 million last year.
Black Sesame derives most of its revenue from systems-on-chips (SoCs) — integrated circuits that combine key electronic components like CPUs and memory — for self-driving cars. It is the third largest provider of automative-grade high-computing power SoCs globally in terms of shipments, according to its preliminary prospectus, citing third-party data. By the end of last year, the company had nearly 90 customers, including a mix of automotive original equipment makers (OEMs) and their suppliers.
The company’s backers include big Chinese tech names like Tencent and Xiaomi.
Sheng Siong (SSG SP): Steady At Execution, Good Long-Term Play (Smart Karma) $
Note: Sheng Siong is one of Singapore’s top retailers and supermarkets.
It attracts investors when a company's 15-year ROCE averages over 25% (and has never gone below 20%). Sheng Siong (SGX: OV8 / OTCMKTS: SHSGF) is one of those companies.
With 13% of the market capitalization in net cash (283 mn SGD) and a payout ratio averaging 70%, the stock trades at a yield of almost 4%.
We believe the store expansion of 3-4 stores/year ( on a base of 67) in Singapore is possible, given the pipeline of HDB tenders.
Nusantara Sejahtera Raya (Cinema XXI) IPO - Peer Comparison (Smart Karma) $ + Indonesian movie chain operator Cinema XXI to raise $158M in IPO (Deal Street Asia)
Prospectus (in Bahasa)
Cinema XXI (CINEMA IJ) aims to raise up to US$160m in its Indonesia IPO.
Cinema XXI is a premium theatrical exhibition, F&B and experience company. It is the largest cinema chain operator in Indonesia.
We have looked at the company's past performance in our earlier notes. In this note, we will undertake a peer comparison.
Should You Invest in Malaysia? (The Smart Investor)
There are opportunities and risks when you look at Malaysian stocks.
In Singapore, we would turn to Singtel (SGX: Z74 / FRA: SIT / SIT4 / OTCMKTS: SGAPY / SNGNF), Keppel Corp’s (SGX: BN4 / FRA: KEP1 / OTCMKTS: KPELY / KPELF) M1 and StarHub (SGX: CC3 / FRA: RYTB / OTCMKTS: SRHBY / SRHBF) for our mobile data needs. Malaysia has its own dominant trio in Maxis Berhad (KLSE: 6012 / OTCMKTS: MAXSF), CelcomDiGi and U Mobile.
But in Malaysia, you can buy shares of Nestle Malaysia (KLSE: 4707 / OTCMKTS: NSLYF).
However, only in the Malaysian stock market can you invest in Heineken Malaysia Bhd (KLSE: 3255), the owner of the beer brand.
What the HDFC Bank merger really means for investors (Capital Mind)
The biggest merger in India in the last decade is now complete. As of 14th July 2023, HDFC shares will stop trading. What does this mean for investors?
Firstly, why bother merging? HDFC and HDFC Bank (NYSE: HDB), the two giants of the Indian financial industry, are fusing into one. And creating a behemoth bank that will be India’s second-largest, even if it’s still going only to be half of the mammoth State Bank of India. The new HDFC Bank, after gobbling up its promoter, HDFC, will have ₹ 22 lakh crore in its mega balance sheet.
Summary:
Forms the biggest private bank in India
Housing is a good addition but won’t immediately help as people think they’re the same thing
Why do banks love housing? A summary of how credit to housing is enormously subsidized by the risk weight
Will the Recent Pivot in Turkey’s Monetary Policy Halt the Lira’s Downward Spiral? (Pyramids and Pagodas)
After all, we did have the luxury to travel and venture out to Istanbul a few years ago. On that trip, we did take notice of a few names – Turkiye Sise Ve Cam Fabrikalari AS (IST: SISE / OTCMKTS: TKKYY) and Frigo-Pak Gida Maddeleri Sanayi ve Ticaret AS (IST: FRIGO) look quite interesting now given their large export businesses. The former is a prominent glass company that has consistently demonstrated profitability, but trading at a discount to peers and industrial counterparts, and the latter, a Turkish juice exporter with brand trading at low multiples.
Interlife The Next Davis Double Play (Iggy’s Substack)
From The Good, The Bad & The Ugly to The Good, The Great & The Wonderfull
Interlife (ATH: INLIF) is a company that trades for an estimated forward multiple of 3x market cap/EBIT and 66% of book value. These multiples seem completely ridiculous once you consider the company has compounded its share price at 19% since 2014 and has ample opportunity for growth and to keep redeploying capital. The business is founder-led and has consistently taken market share from its competition. So, what's the catch, you ask? Well, Interlife General Insurance SA is the only listed Greek insurance company, a microcap with low liquidity, and only has Greek financials. However, with a solid balance sheet, excellent owner-operator, and the potential to benefit from rising rates, I believe this presents a once-in-a-lifetime opportunity to purchase a compounding machine at a deep-value multiple. lets dive in….
Further Suggested Reading
$ = behind a paywall
Taisu Zhang @ZhangTaisu is a Professor @YaleLawSch and @yale_history, comparative historian, legal theorist, occasional commentator on China-related stuff:
Beijing's regulatory crackdown wipes $1.1 trillion off Chinese Big Tech (Reuters)
The bell tolls for fiat (Goldmoney.com)
The importance of Russia’s announcement that a new gold-backed trade currency is on the BRICS meeting agenda for August 22—24 in Johannesburg seems to have gone completely over everyone’s heads, with mainstream media not even reporting it.
This is a mistake. China and Russia know that if they are to succeed in removing the dollar from their sphere of influence, they have to come up with a better alternative. They also know they have to consolidate their trade partners into a formidable bloc, so plans are afoot to consolidate BRICS, the Shanghai Cooperation Organisation, and the Eurasian Economic Union along with those nations who wish to join in. It will be a super-group embracing most of Asia (including the Middle East), Africa, and Latin America.
The groundwork for the new currency has been laid by Sergei Glazyev and is considerably more advanced than generally realised.
Which Countries Are Still Most Reliant On Coal? (Zerohedge) & Which Countries Are Most Reliant on Coal? (Visual Capitalist)
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):
Cambodia Cambodian National Assembly Jul 23, 2023 (d) Confirmed Jul 29, 2018
Argentina Argentinian Presidency Aug 13, 2023 (d) Confirmed Oct 22, 2023
Ecuador Ecuadorian Presidency Aug 20, 2023 (t) Confirmed Apr 11, 2021
Ecuador Ecuadorian National Congress Aug 20, 2023 (t) Confirmed Feb 7, 2021
Zimbabwe Zimbabwean National Assembly Aug 23, 2023 (d) Confirmed Jul 30, 2018
Zimbabwe Zimbabwean Presidency Aug 23, 2023 (d) Confirmed Jul 30, 2018
Singapore Singaporean Presidency Sep 13, 2023 Date not confirmed Sep 23, 2017
Slovakia Slovakian National Council Sep 30, 2023 (t) Confirmed Feb 29, 2020
Pakistan Pakistani National Assembly Oct 14, 2023 (t) Date not confirmed Jul 25, 2018
Argentina Argentinian Chamber of Deputies Oct 22, 2023 (d) Confirmed Oct 24, 2021
Argentina Argentinian Senate Oct 22, 2023 (d) Confirmed Nov 14, 2021
Argentina Argentinian Presidency Oct 22, 2023 (d) Confirmed Aug 13, 2023
Ukraine Ukrainian Supreme Council Oct 29, 2023 (d) Confirmed Jul 21, 2019
Poland Polish Sejm Oct 31, 2023 (t) Date not confirmed Oct 13, 2019
Poland Polish Senate Oct 31, 2023 (t) Date not confirmed Oct 13, 2019
Chile Referendum Dec 17, 2023 (t) Confirmed Sep 4, 2022
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):
ODDITY Tech Ltd. ODD, 10.5M Shares, $27.00-30.00, $300.0 mil, 7/19/2023 Wednesday
We are a consumer tech platform that is built to transform the global beauty and wellness market. (Incorporated in Israel)
Our commitment to innovation through our proprietary technology is matched only by our commitment to developing empowering products of the highest quality. The ODDITY platform is designed to support a portfolio of brands and services that aim to innovate and disrupt the expansive global beauty and wellness market.
ODDITY, powered by our first brand IL MAKIAGE, has been the fastest-growing global beauty direct-to-consumer platform from 2020 through 2022, according to Women’s Wear Daily. Our first brand, IL MAKIAGE, was also the fastest-growing digital direct-to-consumer beauty brand in the United States through 2021, which is the latest available data from Digital Commerce 360. Our second brand, Spoiled Child, launched in 2022 with the goal of disrupting the wellness category online, and is scaling even faster than IL MAKIAGE.
Our success is based on our outsider approach. We are a technology company seeking to reinvent every aspect of a massive industry. Our tech team is the largest team within our company today and comprises over 40 percent of our headcount. We invest heavily in data science, machine learning, and computer vision, and we have an evergreen commitment to exploring and investing in emerging technologies. Our technology innovations, when combined with our world-class physical product range and compelling brands built to win online, aim to eliminate significant friction for customers and support a seamless end-to-end user experience.
We deploy algorithms and machine learning models leveraging user data seeking to deliver a precise product match and seamless shopping experience.
We harness our user data to develop physical beauty and wellness products that deliver excellent performance and functionality. We never settle on quality. If our data doesn’t show it is the best we can deliver, we won’t launch it.
It requires marrying two different worlds of tech and physical products. It’s not enough to build smart machine learning models, they need to be trained to match physical products.
In April 2023, we established ODDITY LABS to bring artificial intelligence-based molecule discovery for the development of science-backed, high performance beauty and wellness products. ODDITY LABS was formed in conjunction with our acquisition of Revela, a biotechnology company focused on the development of new molecules for beauty and wellness.
Since our first digital brand launch in 2018, we have disrupted the way millions of consumers shop for beauty products by bringing them online and transforming the shopping experience. We bring visitors to our website, turn them into users by asking questions and learning about them, and then leverage the data we have across the platform to convert them into paying customers. We have built a platform of over 40 million users that we have direct access to and have generated over 1 billion unique data points on our users’ beauty preferences through our digital model. As of March 31, 2023, we had over 4 million active customers, or customers that made at least one purchase with us within the last 12 months.
Our business has a powerful and rare combination of scale, growth, and profitability. Since our launch, we have proven our ability to quickly achieve success in new brands, products, categories, and international markets. In just 18 months, and simultaneous with our rapid revenue growth, we achieved profitability due to strong repeat rates.
(Note: ODDITY Tech Ltd. disclosed terms for its IPO in an F-1/A filing dated July 10, 2023: 10.53 million shares (10,526,314 shares) at a price range of $27.00 to $30.00 to raise $300.0 million. ODDITY Tech Ltd. filed its F-1 on June 23, 2023. The Israeli company filed its confidential IPO documents with the SEC on Feb. 1, 2022.)
Warrantee Inc. WRNT, 2.8M Shares, $4.00-4.00, $11.1 mil, 7/20/2023 Thursday
Warrantee is a Japanese marketing and market research technology company that helps corporate sponsors unlock value through targeted marketing campaigns while providing our corporate sponsors’ potential customers who participate in our campaigns with extended warranty coverage on durables (air conditioners or other major appliances, for example) or certain healthcare benefits sponsored by our corporate sponsors. (Incorporated in Japan)
Our company was founded in Japan in 2013. Beginning in 2018, we have focused on developing a suite of specialized marketing and market research services through campaigns for enterprises, which we refer to as our corporate sponsors. These services are designed to collect and leverage targeted and specialty data of our corporate sponsors’ potential customers to provide proprietary market insights to our corporate sponsors and promote sales of their products. In addition to our CEO and CFO, we operate our business with one full-time employee in charge of accounting matters and one part-time employee in charge of sales matters in Japan. We have a limited operating history with our campaign services, including a limited number of corporate sponsors (one in the fiscal year ended March 31, 2019, three in the fiscal year ended March 31, 2020, three in the fiscal year ended March 31, 2021, and four currently) on whom our business has been substantially dependent. We cannot guarantee that with our current limited resources we can adequately grow our business, increase our sponsor base, or manage our operations as a publicly traded company in the United States. In addition, the loss of any corporate sponsor in the absence of securing new business would have a material adverse effect on our operations and financial condition.
*Note: Revenue is for the 12 months that ended Sept. 30, 2022.
(Note: Warrantee Inc. cut its IPO by 44 percent to 2.77 million American Depositary Shares (ADS) – down from 5.0 million ADS – and kept the assumed IPO price at $4.00 – to raise $11.08 million in an F-1/A filing dated June 2, 2023; in that filing, Warrantee also changed its sole book-runner to Prime Number Capital from Network 1 Financial Securities and updated its financial statements. Warrantee Inc. also filed a letter with the SEC dated June 2, 2023, in which it withdrew the prospectus for its previous IPO.)
(Background: Warrantee Inc. revived its postponed IPO in an F-1 filing dated Dec. 6, 2022, and disclosed new terms: 5.0 million American Depositary Shares (ADS) at $4.00 each to raise $20.0 million. The IPO of Warrantee Inc. was postponed on Monday, July 11, 2022, “until further notice.” The IPO – 2.14 million shares at $6.00 to $8.00 – had been expected to price on the night of July 11, 2022.)
Emerging Market ETF Launches
Climate change and ESG are clearly the latest flavours of the month for most new ETFs. Nevertheless, here are some new frontier and emerging market focused ETFs:
03/16/2023 - JPMorgan Active China ETF JCHI - Active, equity, China
03/03/2023 - First Trust Bloomberg Emerging Market Democracies ETF EMDM - Principles-based
1/31/2023 - Strive Emerging Markets Ex-China ETF STX - Passive, equity, emerging markets
1/20/2023 - Putnam PanAgora ESG Emerging Markets Equity ETF PPEM - Active, equity, ESG, emerging markets
1/12/2023 - KraneShares China Internet and Covered Call Strategy ETF KLIP - Active, equity, China, options overlay, thematic
1/11/2023 - Matthews Emerging Markets ex China Active ETF MEMX - Active, equity, emerging markets
12/13/2022 - GraniteShares 1.75x Long BABA Daily ETF BABX - Active, equity, leveraged, single stock
12/13/2022 - Virtus Stone Harbor Emerging Markets High Yield Bond ETF VEMY - Active, fixed income, junk bond, emerging markets
9/22/2022 - WisdomTree Emerging Markets ex-China Fund XC - Passive, equity, emerging markets
9/15/2022 - KraneShares S&P Pan Asia Dividend Aristocrats Index ETF KDIV - Passive, equity, Asia, dividend strategy
9/15/2022 - OneAscent Emerging Markets ETF OAEM - Active, Equity, emerging markets, ESG
9/9/2022 - Emerge EMPWR Sustainable Select Growth Equity ETF EMGC - Active, equity, emerging markets
9/9/2022 - Emerge EMPWR Unified Sustainable Equity ETF EMPW - Active, equity, emerging markets
9/8/2022 - Emerge EMPWR Sustainable Emerging Markets Equity ETF EMCH - Active, equity, emerging markets, ESG
7/14/2022 - Matthews China Active ETF MCH - Active, equity, China
7/14/2022 - Matthews Emerging Markets Equity Active ETF MEM - Active, equity, emerging markets
7/14/2022 - Matthews Asia Innovators Active ETF MINV - Active, equity, Asia
6/30/2022 - BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF XEMD - Passive, fixed income, emerging markets
5/2/2022 - AXS Short CSI China Internet ETF SWEB - Active, inverse, thematic
4/27/2022 - Dimensional Emerging Markets High Profitability ETF DEHP - Active, equity, emerging markets
4/27/2022 - Dimensional Emerging Markets Core Equity 2 ETF DFEM - Active, equity, emerging markets
4/27/2022 - Dimensional Emerging Markets Value ETF DFEV - Active, equity, emerging markets
4/27/2022 - iShares Emergent Food and AgTech Multisector ETF IVEG - Passive, equity, thematic [Mostly developed markets]
4/21/2022 - FlexShares ESG & Climate Emerging Markets Core Index Fund FEEM - Passive, equity, ESG
4/6/2022 - India Internet & Ecommerce ETF INQQ - Passive, equity, thematic
2/17/2022 - VanEck Digital India ETF DGIN - Passive, India market, thematic
2/17/2022 - Goldman Sachs Access Emerging Markets USD Bond ETF GEMD - Passive, fixed income, emerging markets
1/27/2022 - iShares MSCI China Multisector Tech ETF TCHI - Passive, China, technology
1/11/2022 - Simplify Emerging Markets PLUS Downside Convexity ETF EMGD - Active, equity, options strategy
1/11/2022 - SPDR Bloomberg SASB Emerging Markets ESG Select ETF REMG - Passive, equity, ESG
Emerging Market ETF Closures/Liquidations
Frontier and emerging market highlights:
06/23/2023 - Invesco PureBeta FTSE Emerging Markets ETF - PBEE
3/30/2023 - Invesco BLDRS Emerging Markets 50 ADR Index Fund - ADRE
3/30/2023 - Invesco BulletShares 2023 USD Emerging Markets Debt ETF - BSCE
3/30/2023 - Invesco BulletShares 2024 USD Emerging Markets Debt ETF - BSDE
3/30/2023 - Invesco RAFI Strategic Emerging Markets ETF - ISEM
2/17/2023 - Direxion Daily CSI 300 China A Share Bear 1X Shares - CHAD
1/13/2023 - First Trust Chindia ETF - FNI
12/28/2022 - Franklin FTSE Russia ETF - FLRU
12/22/2022 - VictoryShares Emerging Market High Div Volatility Wtd ETF CEY
8/22/2022 - iShares MSCI Argentina and Global Exposure ETF AGT
8/22/2022 - iShares MSCI Colombia ETFI COL
6/10/2022 - Infusive Compounding Global Equities ETF JOYY
5/3/2022 - ProShares Short Term USD Emerging Markets Bond ETF EMSH
4/7/2022 - DeltaShares S&P EM 100 & Managed Risk ETF DMRE
3/11/2022 - Direxion Daily Russia Bull 2X Shares RUSL
1/27/2022 - Legg Mason Global Infrastructure ETF INFR
1/14/2022 - Direxion Daily Latin America Bull 2X Shares LBJ
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 some ETF lists are still being updated as of Summer 2022).
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 (June 17, 2023) was also published on our website under the Newsletter category.