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.

Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to continue moving in a downtrend, with the support at 1,450/1,440 points and resistance at 1,474/1,480 points, as evidenced by the ongoing decline in the levels of the lower highs and lower lows.</li><li>We expect the index to fall today due to the closing of net short positions by foreign investors.</li><li>A better-than-forecast 2Q23E GDP figure would be positive for the US 2Q23E earnings (results will start to be reported in early July).</li></ul>

Technically, the SET Index is expected to continue moving in a downtrend, with the support at 1,450/1,440 points and resistance at 1,474/1,480 points, as evidenced by the ongoing decline in the levels of the lower highs and lower lows.We expect the index to fall today due to the closing of net short positions by foreign investors.A better-than-forecast 2Q23E GDP figure would be positive for the US 2Q23E earnings (results will start to be reported in early July).

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul>
<li>Apple is widely expected to launch its long-awaited MR headset in WWDC 2023 this week.</li>
<li>We believe 2023 is set to be one of the best years in VR/AR ecosystem development as Apple’s first MR headset will set new standard for innovation.</li>
<li>We expect technology upgrade to accelerate in displays, optics/sensors and tracking/interaction for enhancing user experience. </li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Apple is widely expected to launch its long-awaited MR headset in WWDC 2023 this week.
We believe 2023 is set to be one of the best years in VR/AR ecosystem development as Apple’s first MR headset will set new standard for innovation.
We expect technology upgrade to accelerate in displays, optics/sensors and tracking/interaction for enhancing user experience. 

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Technology – Apple MR: Long-awaited next “iPhone moment”

<ul><li>The SET Index is expected to move up, with the resistance at 1,570/1,580 points and the support at 1,555/1,550 points.</li><li>We expect the SET today to see healthy momentum based on the positive view from the National Economic and Social Development Council and other economic agencies regarding Thai 1Q23E GDP, which may lead to upward revisions to the 2023E GDP (the consensus estimate calls for Thai GDP in 1Q23E to have accelerated by 2.3% YoY vs. +1.4% YoY in 4Q22).</li><li>Another driver should be the exit polls from the general election on Sunday, which have reaffirmed our confidence in a potential election rally by the SET in the week and month after the voting (based on historical data, in four out of the last five general elections, the SET Index increased by an average of +3.81% WoW and +3.47% MoM).</li></ul>

The SET Index is expected to move up, with the resistance at 1,570/1,580 points and the support at 1,555/1,550 points.We expect the SET today to see healthy momentum based on the positive view from the National Economic and Social Development Council and other economic agencies regarding Thai 1Q23E GDP, which may lead to upward revisions to the 2023E GDP (the consensus estimate calls for Thai GDP in 1Q23E to have accelerated by 2.3% YoY vs. +1.4% YoY in 4Q22).Another driver should be the exit polls from the general election on Sunday, which have reaffirmed our confidence in a potential election rally by the SET in the week and month after the voting (based on historical data, in four out of the last five general elections, the SET Index increased by an average of +3.81% WoW and +3.47% MoM).

<ul><li>The SET Index today is expected to recover, with the support at 1,518/1,507 points and the resistance at 1,540/1,545 points.</li><li>The market will thus turn its focus to the 1Q23 corporate earnings that will be reported this week, which could provide a lift if they come out better than expected.</li><li>Historical data from the five most recent general elections shows that the SET Index generated an average return of +1.87% in the week before the elections took place.</li></ul>

The SET Index today is expected to recover, with the support at 1,518/1,507 points and the resistance at 1,540/1,545 points.The market will thus turn its focus to the 1Q23 corporate earnings that will be reported this week, which could provide a lift if they come out better than expected.Historical data from the five most recent general elections shows that the SET Index generated an average return of +1.87% in the week before the elections took place.

<ul><li>The SET Index is expected to move sideways, with the resistance at 1,684/1,690 points and the support at 1,673/1,666 points.</li><li>We recommend trading buy in the short term amid the positive momentum in the market, focusing on reopening plays.</li><li>Our recommended stocks are HANA, MEGA and SPA.</li></ul>

The SET Index is expected to move sideways, with the resistance at 1,684/1,690 points and the support at 1,673/1,666 points.We recommend trading buy in the short term amid the positive momentum in the market, focusing on reopening plays.Our recommended stocks are HANA, MEGA and SPA.

United States

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

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Apple (AAPL US)

Today's Dominant Ideas

Technically, the SET Index is expected to continue moving in a downtrend, with the support at 1,450/1,440 points and resistance at 1,474/1,480...

Krungthai XSpring

China Technology – Apple MR: Long-awaited next “iPhone moment”

We believe 2023 is set to be one of the best years in VR/AR ecosystem development as Apple’s first MR headset will set new standard for innovation.

CMB International

Today's Dominant Ideas

The SET Index is expected to move up, with the resistance at 1,570/1,580 points and the support at 1,555/1,550 points. We expect the SET today to...

Krungthai XSpring

Today's Dominant Ideas

The SET Index today is expected to recover, with the support at 1,518/1,507 points and the resistance at 1,540/1,545 points. The market will thus...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways, with the resistance at 1,684/1,690 points and the support at 1,673/1,666 points. We recommend trading...

Krungthai XSpring

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