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 move lower, with the support at 1,391/1,385 points (75-day EMA/50-day EMA) and the resistance at 1,410/1,416 points.</li><li>For the overall picture, the index is still in an uptrend pattern, testing the upchannel resistance at around 1,348-1,432 points.</li><li>In the short term, the index is beginning to show signs of a correction after rising sharply by nearly 40 points in the previous three trading days.</li></ul>

Technically, the SET Index is expected to move lower, with the support at 1,391/1,385 points (75-day EMA/50-day EMA) and the resistance at 1,410/1,416 points.For the overall picture, the index is still in an uptrend pattern, testing the upchannel resistance at around 1,348-1,432 points.In the short term, the index is beginning to show signs of a correction after rising sharply by nearly 40 points in the previous three trading days.

<ul><li>Technically, the SET Index is expected to move up, with the resistance at 1,405/1,416 points and the support at 1,395/1,390 points (75-day EMA).</li><li>As for the overall picture, there is a positive signal after the index broke out from the resistance of the downchannel trend at 1,330-1,395 points on higher volume.</li><li>This should support upward movement to test the previous resistance at 1,416 and 1,435 points, respectively.</li></ul>

Technically, the SET Index is expected to move up, with the resistance at 1,405/1,416 points and the support at 1,395/1,390 points (75-day EMA).As for the overall picture, there is a positive signal after the index broke out from the resistance of the downchannel trend at 1,330-1,395 points on higher volume.This should support upward movement to test the previous resistance at 1,416 and 1,435 points, respectively.

<ul><li>Although Asian bourses were able to rebound on the back of tech stocks, alongside the jump in US markets after bond yields decreased, the SET only managed to edge up due to a lack of new factors to boost it.</li><li>Meanwhile, ADVANC and banking stocks fell, and foreign investors kept selling for a third day amid continued thin volume.</li><li>The index has an unclear direction after continuing to swing sideways in a narrow range, but we expect upward movement because it attempted to rise despite facing selling pressure.</li></ul>

Although Asian bourses were able to rebound on the back of tech stocks, alongside the jump in US markets after bond yields decreased, the SET only managed to edge up due to a lack of new factors to boost it.Meanwhile, ADVANC and banking stocks fell, and foreign investors kept selling for a third day amid continued thin volume.The index has an unclear direction after continuing to swing sideways in a narrow range, but we expect upward movement because it attempted to rise despite facing selling pressure.

Technical Analysis - The Trend - Feb 16, 2024

<ul><li>We expect Thai inflation to continue easing from May to August, driven down by the high base effect and lower oil prices.</li><li>The Ministry of Commerce (MoC) anticipates 2023E inflation at a mean of +2.2% YoY (range of 1.7-2.7%), slowing considerably from +6.1% YoY in 2022.</li><li>We expect the MPC to continue raising the policy interest rate by 25 bps to 2.00% in the meeting on May 31, 2023, which should be the last rate hike in this upcycle. </li></ul>

We expect Thai inflation to continue easing from May to August, driven down by the high base effect and lower oil prices.The Ministry of Commerce (MoC) anticipates 2023E inflation at a mean of +2.2% YoY (range of 1.7-2.7%), slowing considerably from +6.1% YoY in 2022.We expect the MPC to continue raising the policy interest rate by 25 bps to 2.00% in the meeting on May 31, 2023, which should be the last rate hike in this upcycle. 

Special Report: Inflation Remains on a Downtrend

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Five stocks remain, nine new join the fray</li>
<li>Since inception, it has gained 96% versus the SET 100 Index’s return of 29%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Five stocks remain, nine new join the fray
Since inception, it has gained 96% versus the SET 100 Index’s return of 29%


The Stocks to Own in Thailand – Vol. 40

Thailand

AP Thailand PCL is a property development company. The Company develops residential property projects in Bangkok areas as well as manufactures and distributes precast concrete products.

AP Thailand PCL (AP TB)

KTX Zoom - APRIL 17, 2024

Technically, the SET Index is expected to move lower, with the support at 1,391/1,385 points (75-day EMA/50-day EMA) and the resistance at 1,410...

Krungthai XSpring

KTX Zoom - APRIL 10, 2024

Technically, the SET Index is expected to move up, with the resistance at 1,405/1,416 points and the support at 1,395/1,390 points (75-day EMA).

Krungthai XSpring

Technical Analysis - The Trend - Feb 16, 2024

The index has an unclear direction after continuing to swing sideways in a narrow range, but we expect upward movement because it attempted to rise...

Krungthai XSpring

Special Report: Inflation Remains on a Downtrend

The Ministry of Commerce (MoC) anticipates 2023E inflation at a mean of +2.2% YoY (range of 1.7-2.7%), slowing considerably from +6.1% YoY in 2022.

Krungthai XSpring

The Stocks to Own in Thailand – Vol. 40

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Five stocks remain, nine new join...

A. Stotz Investment Research