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 move sideways, with the support at 1,382/1,375 points and the resistance at 1,395/1,400 points, as investors are awaiting clarity concerning the results of the Fed meeting, which will be known Wednesday night.</li><li>However, the primary risks are associated with major central bank meetings, including the FOMC, BOE and BoJ, which may adopt more hawkish stances following signs of economic recovery and rising inflation.</li><li>Our recommendation is to reduce the weighting on buying and consider partial trading buys.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,382/1,375 points and the resistance at 1,395/1,400 points, as investors are awaiting clarity concerning the results of the Fed meeting, which will be known Wednesday night.However, the primary risks are associated with major central bank meetings, including the FOMC, BOE and BoJ, which may adopt more hawkish stances following signs of economic recovery and rising inflation.Our recommendation is to reduce the weighting on buying and consider partial trading buys.

Keep a Close Watch on Chinese Economic Figures

<ul><li>Technically, the SET Index is expected to weaken, with the support at 1,377 points (10-day EMA)/1,365 points and the resistance at 1,388 points (50-day EMA)/1,392 points.</li><li>However, if the index falls below the major support at 1,377 points (10-day EMA) after yesterday failing to surpass the major resistance at 1,388 points (50-day EMA), a sell signal will be triggered.</li><li>Consequently, during the FOMC meeting in March 2024, it is conceivable that the Fed may revise down its interest rate outlook through its dot plot, potentially signaling just one rate cut in 2024E, contrary to the current forecast calling for three rate cuts.</li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,377 points (10-day EMA)/1,365 points and the resistance at 1,388 points (50-day EMA)/1,392 points.However, if the index falls below the major support at 1,377 points (10-day EMA) after yesterday failing to surpass the major resistance at 1,388 points (50-day EMA), a sell signal will be triggered.Consequently, during the FOMC meeting in March 2024, it is conceivable that the Fed may revise down its interest rate outlook through its dot plot, potentially signaling just one rate cut in 2024E, contrary to the current forecast calling for three rate cuts.

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>In terms of further growth potential, we believe Amazon’s e-commerce business still has ample potential in both the US and global markets.</li><li>AWS is backed by strong technological capability and generative AI opens more opportunities.</li><li>The continuous increase in retail business efficiency and improvement in economies of scale will help boost profitability in our view, backed by regionalization strategy, reduction in cost to serve, and rising revenue contribution from platform business. </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>

In terms of further growth potential, we believe Amazon’s e-commerce business still has ample potential in both the US and global markets.AWS is backed by strong technological capability and generative AI opens more opportunities.The continuous increase in retail business efficiency and improvement in economies of scale will help boost profitability in our view, backed by regionalization strategy, reduction in cost to serve, and rising revenue contribution from platform business. 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.

Amazon (AMZN US) - Steady Ship Heading for New Growth Stage

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,375/1,380 points and the support at 1,357/1,352 points.</li><li>The consensus expects the labor market to slacken amid potential declines in inflation.</li><li>We recommend dividend plays: ADVANC, INTUCH and WHAUP.</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,375/1,380 points and the support at 1,357/1,352 points.The consensus expects the labor market to slacken amid potential declines in inflation.We recommend dividend plays: ADVANC, INTUCH and WHAUP.

Bangkok Dusit Medical Services / Equity Bottom-Up

<ul><li>Technically, the SET Index should move sideways up, with the resistance at 1,440/1,445 points and the support at 1,423 (5-day EMA)/1,418 points, based on the expected continuation of the uptrend.</li><li>US equity markets face a potentially significant correction as the yield curve undergoes a reversal from a downtrend to an uptrend, propelled by increasing US bond yields across the curve.</li><li>In this week's investment strategy, we have transitioned from speculative buying to a strategy of gradual profit taking.</li></ul>

Technically, the SET Index should move sideways up, with the resistance at 1,440/1,445 points and the support at 1,423 (5-day EMA)/1,418 points, based on the expected continuation of the uptrend.US equity markets face a potentially significant correction as the yield curve undergoes a reversal from a downtrend to an uptrend, propelled by increasing US bond yields across the curve.In this week's investment strategy, we have transitioned from speculative buying to a strategy of gradual profit taking.

United States

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company's products include books, music, videotapes, computers, electronics, home and garden, and numerous other products.  Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers.

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Amazon (AMZN US)

Keep a Close Watch on Chinese Economic Figures

Technically, the SET Index is expected to move sideways, with the support at 1,382/1,375 points and the resistance at 1,395/1,400 points, as...

Krungthai XSpring

Today's Dominant Ideas

Technically, the SET Index is expected to weaken, with the support at 1,377 points (10-day EMA)/1,365 points and the resistance at 1,388 points...

Krungthai XSpring

Amazon (AMZN US) - Steady Ship Heading for New Growth Stage

In terms of further growth potential, we believe Amazon’s e-commerce business still has ample potential in both the US and global markets.

CMB International

Keep a Close Watch on US Employment Data

Technically, the SET Index is expected to move sideways, with the resistance at 1,375/1,380 points and the support at 1,357/1,352 points. The...

Krungthai XSpring

Today's Dominant Ideas

Technically, the SET Index should move sideways up, with the resistance at 1,440/1,445 points and the support at 1,423 (5-day EMA)/1,418 points,...

Krungthai XSpring

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52-week Range

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