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Frontier Market Stocks: Consider These Countries

Frontier Market Stocks: Consider These Countries
Frontier Market Stocks: Consider These Countries


Of all the frontier exchanges we cover, Mongolian stocks are the least correlated to assets in Europe and the Americas.

Easy access to hot money across the border is perhaps why Mongolia has a fairly large stock market, at least for a frontier market.

You can trade almost 200 publicly traded companies on the Mongolian Stock Exchange (MSE) in almost every sector.

However, you will need to open a local brokerage account to purchase stocks in Mongolia. There is no other way around this problem. However, some companies offer remote brokerage account opening services.

Actions in Vietnam

Vietnam is probably no longer even a frontier market. All major rating agencies consider it as a however, we still include Vietnam on our list.

The Southeast Asian nation is unique because it has two different stock exchanges. Its capital, Hanoi, and its largest city, Saigon, each have a stock exchange with several hundred listed companies.

You will usually need to open a brokerage account in Vietnam in order to trade stocks directly. Either that or transact through an account based in a nearby financial center such as Singapore.

No brokerage based in Europe or the United States provides access to Vietnamese stocks. Nor any other frontier market, for that matter.

The bad news? You will need to travel to Vietnam to open a local brokerage account and you will not be able to do this from home.

If opening a local account is too inconvenient for you, it is possible to purchase frontier market ETFs based in other countries and focused exclusively on Vietnamese stocks.

The majority of these ETFs are listed on US exchanges and include VanEck Vectors Vietnam. However, a frontier markets ETF is not the best way to buy stocks in Vietnam. It is also not the most profitable.

Instead, you should ideally look towards small and mid-cap stocks. There are dozens of small businesses in Vietnam that barely receive media coverage.

Many undiscovered gems await anyone who is able to make the effort. This is generally how things work in emerging Asian economies.

More border markets: Cambodia, Laos and Myanmar

It is worth mentioning that some frontier markets in Asia, even though they technically have a stock exchange, are in a position of low trading volume or low liquidity.

Either that or they simply aren't accessible to foreign buyers at the moment.

The Cambodian stock market, for example, has precisely eleven companies listed. Five of them are quasi-public companies, including the Phnom Penh Water Supply Authority and the Sihanoukville Autonomous Port.

Next, Laos stocks are in a similar situation. The Laotian Stock Exchange has five listed companies, including the country's largest bank and two real estate developers.

The Yangon Stock Exchange in Myanmar is the smallest in the world with only four companies listed. It is also the newest stock exchange in Asia. But the few options available and the lack of foreign buyers have slowed its momentum.

This was even before a coup d’état. Needless to say, buying stocks in Myanmar as a foreigner is virtually impossible these days.

Here is the main question: can these frontier markets attract a greater number of listings and attract foreign investors?

Until now, the Cambodian stock market has been growing steadily over time. That of Laos is stagnating while that of Myanmar is collapsing.

Time will tell what the long-term performance of Asian frontier stock markets will be.

We believe that many, but perhaps not all, will experience immense growth in total size and profitability over the coming decades.

Frontier Markets Equities: FAQ




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