Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Thematic (Sector/Industry)

<ul><li>Technically, the SET Index is expected to weaken, with the support levels at 1,185 (10-day EMA) and 1,180 points and the resistance at 1,195 and 1,200 points.</li><li>In the medium term, the index remains in a downtrend following a zig-zag down pattern, seeking the bottom within the range of 1,100-1,506 points.</li><li>In the short term, the market is at a decision point: (i) whether to resume its downtrend and retest the previous low of 1,157.96, or (ii) move sideways and test the resistance at the 25-day EMA of 1,204 points, which could signal the start of a new bullish cycle. Strategy: sell on rallies and consider buying back when a clear technical uptrend signal emerges.</li></ul>

Technically, the SET Index is expected to weaken, with the support levels at 1,185 (10-day EMA) and 1,180 points and the resistance at 1,195 and 1,200 points.In the medium term, the index remains in a downtrend following a zig-zag down pattern, seeking the bottom within the range of 1,100-1,506 points.In the short term, the market is at a decision point: (i) whether to resume its downtrend and retest the previous low of 1,157.96, or (ii) move sideways and test the resistance at the 25-day EMA of 1,204 points, which could signal the start of a new bullish cycle. Strategy: sell on rallies and consider buying back when a clear technical uptrend signal emerges.

KTX Zoom - US 4Q24 GDP/PCE/Core PCE and Trade Balance

<ul><li>Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,174/1,166 points and the resistance at 1,191/1,195/1,200 points.</li><li>In the medium term, the index remains in a downtrend with a zig-zag down pattern, searching for the bottom within the range of 1,100-1,506 points.</li><li>In the short term, the index has reverted to a downtrend, likely to retest its previous low, after weakening yesterday and nearly falling below the 10-day EMA, which it had just broken above last Wednesday. </li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,174/1,166 points and the resistance at 1,191/1,195/1,200 points.In the medium term, the index remains in a downtrend with a zig-zag down pattern, searching for the bottom within the range of 1,100-1,506 points.In the short term, the index has reverted to a downtrend, likely to retest its previous low, after weakening yesterday and nearly falling below the 10-day EMA, which it had just broken above last Wednesday. 

KTX Zoom - Vote of Confidence Result for Prime Minister and US Durable Goods Data

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Cross Asset Strategy

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/bank-central-asia-tbk-pt" target="_blank" data-smartkarma-citation="entities:440:1" rel="noopener">Bank Central Asia (BBCA IJ)</a>, <a href="https://www.smartkarma.com/entities/thai-beverage-pcl" target="_blank" data-smartkarma-citation="entities:3656:1" rel="noopener">Thai Beverage (THBEV SP)</a>, <a href="https://www.smartkarma.com/entities/sheng-siong-group-ltd" target="_blank" data-smartkarma-citation="entities:6824:1" rel="noopener">Sheng Siong (SSG SP)</a>, and <a href="https://www.smartkarma.com/entities/delta-electronics-thailand-pcl-98806732-8ac4-42b2-a565-ba32673d1e5a" target="_blank" data-smartkarma-citation="entities:20912:1" rel="noopener">Delta Electronics Thailand (DELTA TB)</a>.</li>
<li>There was also a macro insight on the Singapore economy from <a href="https://www.smartkarma.com/profiles/manu-bhaskaran" target="_blank" data-smartkarma-citation="accounts:35" rel="noopener">Manu Bhaskaran</a> and a Thai banking sector post-results review from <a href="https://www.smartkarma.com/profiles/victor-galliano" target="_blank" data-smartkarma-citation="accounts:3251" rel="noopener">Victor Galliano</a> with <a href="https://www.smartkarma.com/entities/krung-thai-bank-pub-co-ltd" target="_blank" data-smartkarma-citation="entities:298:1" rel="noopener">Krung Thai Bank</a> as top pick.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on Bank Central Asia (BBCA IJ), Thai Beverage (THBEV SP), Sheng Siong (SSG SP), and Delta Electronics Thailand (DELTA TB).
There was also a macro insight on the Singapore economy from Manu Bhaskaran and a Thai banking sector post-results review from Victor Galliano with Krung Thai Bank as top pick.
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - BCA Stands Out, Thai Bev, and Delta Electronics Fully Valued

<ul>
<li>The past week saw insights on <a href="https://www.smartkarma.com/entities/siloam-international-hospitals" target="_blank" data-smartkarma-citation="entities:878:1" rel="noopener">Siloam International Hospitals (SILO IJ)</a>, <a href="https://www.smartkarma.com/entities/bank-rakyat-indonesia-persero" target="_blank" data-smartkarma-citation="entities:484:1" rel="noopener">Bank Rakyat Indonesia (BBRI IJ)</a>, <a href="https://www.smartkarma.com/entities/mr-diy-group-m-bhd" target="_blank" data-smartkarma-citation="entities:28430:1" rel="noopener">MR DIY (MRDIY MK)</a>, <a href="https://www.smartkarma.com/entities/united-overseas-bank-ltd" target="_blank" data-smartkarma-citation="entities:113:1" rel="noopener">UOB (UOB SP)</a>, and <a href="https://www.smartkarma.com/entities/singapore-airlines-ltd" target="_blank" data-smartkarma-citation="entities:74:1" rel="noopener">Singapore Airlines (SIA SP)</a> </li>
<li>There were alos insights on the Malaysian economic outlook, <a href="https://www.smartkarma.com/entities/vinfast-auto-ltd" target="_blank" data-smartkarma-citation="entities:36550:1" rel="noopener">Vinfast</a>, the LQ45 Index rebalance, <a href="https://www.smartkarma.com/entities/japfa-comfeed-indonesia-tbk-pt" target="_blank" data-smartkarma-citation="entities:8258:1" rel="noopener">Japfa Comfeed Indonesia</a>, <a href="https://www.smartkarma.com/entities/lippo-malls-indonesia-retail-trust" target="_blank" data-smartkarma-citation="entities:10946:1" rel="noopener">Lippo Malls Indonesia Retail Trust</a>, and <a href="https://www.smartkarma.com/entities/medco-energi-internasional-tbk-pt" target="_blank" data-smartkarma-citation="entities:20844:1" rel="noopener">Medco Energi (MEDC IJ)</a>.</li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights on Siloam International Hospitals (SILO IJ), Bank Rakyat Indonesia (BBRI IJ), MR DIY (MRDIY MK), UOB (UOB SP), and Singapore Airlines (SIA SP) 
There were alos insights on the Malaysian economic outlook, Vinfast, the LQ45 Index rebalance, Japfa Comfeed Indonesia, Lippo Malls Indonesia Retail Trust, and Medco Energi (MEDC IJ).
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - Siloam International Intl Hospitals, Bank Rakyat, and MrDIY

<ul>
<li>The past week saw insights published onn <a href="https://www.smartkarma.com/entities/pt-selamat-sempurna-tbk" target="_blank" data-smartkarma-citation="entities:10909:1" rel="noopener">Selamat Sempurna (SMSM IJ)</a>, <a href="https://www.smartkarma.com/entities/barito-renewables" target="_blank" data-smartkarma-citation="entities:40150:1" rel="noopener">Barito Renewables</a>, <a href="https://www.smartkarma.com/entities/boustead-plantations-bhd" target="_blank" data-smartkarma-citation="entities:11418:1" rel="noopener">Boustead Plantations (BPLANT MK)</a>, and <a href="https://www.smartkarma.com/entities/vertex-technology-acquisition-corporation-ltd" target="_blank" data-smartkarma-citation="entities:35394:1" rel="noopener">Vertex Technology Acquisition Corporation (VTAC SP).</a> and <a href="https://www.smartkarma.com/entities/united-overseas-bank-ltd" target="_blank" data-smartkarma-citation="entities:113:1" rel="noopener">UOB (UOB SP)</a>.</li>
<li>There were also insights in the 3Q2023 performance in Singapore, as well as a look at Singapore's monthly balance sheet, and a credit insight looking at <a href="https://www.smartkarma.com/entities/medco-energi-internasional-tbk-pt" target="_blank" data-smartkarma-citation="entities:20844:1" rel="noopener">Medco Energi (MEDC IJ)</a>. </li>
<li>The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.</li>
</ul>


The past week saw insights published onn Selamat Sempurna (SMSM IJ), Barito Renewables, Boustead Plantations (BPLANT MK), and Vertex Technology Acquisition Corporation (VTAC SP). and UOB (UOB SP).
There were also insights in the 3Q2023 performance in Singapore, as well as a look at Singapore's monthly balance sheet, and a credit insight looking at Medco Energi (MEDC IJ). 
The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity bottom-up, from across Southeast Asia.


The Week That Was in ASEAN@Smartkarma - Filters, Barito Renewables, and Vertex Technology SPAC.

Thailand

Bank of Ayudhya Public Co., Ltd., also known as Krungsri, is a leading commercial bank in Thailand providing a comprehensive range of universal banking services. It offers personal, corporate, and SME banking services, including auto loans, home loans, transaction accounts, investment banking, and treasury services. The bank is headquartered in Bangkok, Thailand, and was established in 1945.

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Bank of Ayudhya (BAY TB)

KTX Zoom - US 4Q24 GDP/PCE/Core PCE and Trade Balance

Technically, the SET Index is expected to weaken, with the support levels at 1,185 (10-day EMA) and 1,180 points and the resistance at 1,195 and...

Krungthai XSpring

KTX Zoom - Vote of Confidence Result for Prime Minister and US Durable Goods Data

Technically, the SET Index is expected to move in a sideways-down pattern, with the support levels at 1,174/1,166 points and the resistance at...

Krungthai XSpring

The Week That Was in ASEAN@Smartkarma - BCA Stands Out, Thai Bev, and Delta Electronics Fully Valued

The past week saw insights on Bank Central Asia (BBCA IJ), Thai Beverage (THBEV SP), Sheng Siong (SSG SP), and Delta Electronics Thailand (DELTA TB).

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - Siloam International Intl Hospitals, Bank Rakyat, and MrDIY

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

The Week That Was in ASEAN@Smartkarma - Filters, Barito Renewables, and Vertex Technology SPAC.

The Week That Was in ASEAN@Smartkarma is filled with an eclectic mix of differentiated, substantive, and actionable insights, macro and equity...

Angus Mackintosh

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52-week Range

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