GEMs Best Stock Ideas June 2026

Research evidence excerpt

GEMs Best Stock Ideas June 2026

9 June 2026

GEMs Best Stock Ideas EquityEmergingStrategyMarkets

June 2026

◆ We highlight 23 stock ideas across emerging markets Alastair Pinder, CFA

Head EM and Global Equity Strategist

◆ These are our analysts’ best ideas based on their bottom-up HSBC Securities (USA) Inc.

alastair.pinder@us.hsbc.com

analysis… +1 212 525 5972

Pankaj Agarwala*, CFA

◆ …and are also consistent with our top-down strategy EM and Global Equity Strategist

HSBC Securities and Capital Markets (India) Private Limited

pankajagarwala@hsbc.co.in

We remain bullish on the outlook for EM equities. Fundamentals remain strong and +91 0 80 30013716

earnings have started 2026 with real momentum. Q1-26 earnings rose 25% y/y, the Herald van der Linde*, CFA

Head of Equity Strategy, Asia Pacific

fastest pace since the post-COVID-19 rebound. While Taiwan and Korea’s tech mega- The Hongkong and Shanghai Banking Corporation Limited

caps have clearly lifted the headline, the improvement is no longer confined to a single heraldvanderlinde@hsbc.com.hk

+852 2996 6575

pocket of the market: EM earnings excluding Taiwan and Korea have also turned

Raj Sinha*

meaningfully positive, up 10.5% y/y in Q1. Looking ahead, consensus expects FTSE EM Co-Head of Global Equity Research

+ Korea to deliver 49% EPS growth in 2026, well ahead of the S&P 500 at 22%. While HSBC Bank Middle East Limited, Dubai branch

raj.sinha@hsbc.com

AI has become a core engine of EM equity performance, one of the associated +971 4 423 6932

challenges is that EM benchmarks have become increasingly concentrated, with TSMC, Nicole Inui*, CFA

Samsung Electronics and SK Hynix now comprising over 25% after outsized rallies over Head of Equity Strategy, Americas

Banco HSBC S.A.

the past 12 months.