Asian Penny Stocks To Watch In October 2026

As global markets navigate the complexities of AI spending concerns and inflation pressures, Asian equities have shown a mix of resilience and volatility. Amid these shifting dynamics, penny stocks—often representing smaller or newer companies—remain a compelling area for investors seeking growth potential at a lower entry cost. While the term "penny stock" might seem outdated, it still signifies opportunities in companies with robust financials that could offer significant returns.

Let's take a closer look at a couple of our picks from the screened companies.

Fortress Minerals (Catalist:OAJ)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Fortress Minerals Limited is an investment holding company involved in the exploration, mining, production, and sale of iron ore concentrates with a market capitalization of SGD109.90 million.

Operations: The company's revenue is entirely derived from the sale of iron ore, amounting to $71.71 million.

Market Cap: SGD109.9M

Fortress Minerals Limited, with a market capitalization of SGD109.90 million, has shown significant earnings growth, increasing by 194.3% over the past year and surpassing industry averages. Despite this volatility in share price and low Return on Equity at 12.3%, the company maintains a satisfactory net debt to equity ratio of 5.7% and covers interest payments well with EBIT coverage at 27 times. Recent results indicate improved sales and net income for both the second quarter and six months ended August 31, 2026, alongside an approved dividend increase reflecting shareholder value enhancement efforts amidst stable financial management practices.

• Navigate through the intricacies of Fortress Minerals with our comprehensive balance sheet health report here.
• Review our growth performance report to gain insights into Fortress Minerals' future.

Peking University Resources (Holdings) (SEHK:618)

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Peking University Resources (Holdings) Company Limited operates in the e-commerce and distribution sectors across Hong Kong, Mainland China, and Singapore, with a market capitalization of HK$848.60 million.

Operations: The company's revenue is primarily derived from e-commerce and distribution (CN¥936.09 million), followed by property development (CN¥377.35 million), medical and pharmaceutical retail (CN¥155.07 million), and property investment and management (CN¥83.03 million).

Market Cap: HK$848.6M

Peking University Resources (Holdings) Company Limited, with a market cap of HK$848.60 million, has recently become profitable, showcasing improved financial health through positive shareholder equity and strong asset coverage over liabilities. Despite its high non-cash earnings and outstanding return on equity at 92.7%, the company faces challenges with an inexperienced board averaging 2.2 years in tenure. Recent strategic shifts include the discontinuation of a joint venture in non-ferrous metal commodities due to market risks and uncertainties, alongside leadership changes with the appointment of Ms. Xiong Yan as an executive director, bringing extensive supply chain expertise to the company.

• Jump into the full analysis health report here for a deeper understanding of Peking University Resources (Holdings).
• Gain insights into Peking University Resources (Holdings)'s historical outcomes by reviewing our past performance report.

Apollo Future Mobility Group (SEHK:860)

Simply Wall St Financial Health Rating: ★★★★★☆

Overview: Apollo Future Mobility Group Limited is an investment holding company involved in the trading, retail, and wholesale of jewelry products, watches, and other commodities with a market capitalization of approximately HK$664.58 million.

Operations: The company's revenue is derived from mobility technology solutions (HK$35.23 million), jewelry products, watches, and other commodities (HK$13.75 million), and money lending (HK$6.12 million).

Market Cap: HK$664.58M

Apollo Future Mobility Group, with a market cap of HK$664.58 million, is navigating the challenges typical of penny stocks. Despite recent delivery of its first Apollo EVO hypercar, the company remains unprofitable with increasing losses over five years and declining revenues to HK$44.87 million for the half year ending June 2026. The company's short-term assets exceed liabilities, indicating some financial stability; however, its debt-to-equity ratio has risen significantly to 25.3%. A follow-on equity offering worth approximately HK$120.65 million suggests efforts to bolster capital amid high share price volatility and negative return on equity at -61.78%.

• Click here and access our complete financial health analysis report to understand the dynamics of Apollo Future Mobility Group.
• Review our historical performance report to gain insights into Apollo Future Mobility Group's track record.

Taking Advantage

• Unlock our comprehensive list of 1,072 Asian Penny Stocks by clicking here.
• Interested In Other Possibilities? We've found 9 US stocks that are forecast to pay a dividend yeild of over 6% next year. See the full list for free.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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