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.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,433/1,438 points and the support at 1,419/1,405 points (based on the 5-day and 10-day EMA).</li><li>We anticipate the USD to strengthen in the short term against Asian currencies, which could weaken the Thai baht and exert downward pressure on Asian stock markets.</li><li>We recommend CENTEL, BDMS and TFG.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,433/1,438 points and the support at 1,419/1,405 points (based on the 5-day and 10-day EMA).We anticipate the USD to strengthen in the short term against Asian currencies, which could weaken the Thai baht and exert downward pressure on Asian stock markets.We recommend CENTEL, BDMS and TFG.

Weekly Outlook: Volatile (Sell When the Index Gains and Buy When It Falls)

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.

Thematic (Sector/Industry)

<ul><li>Microsoft unveiled two major custom-designed chips for cloud computing at its Ignite developer conference on 15 Nov 2023, Maia 100 AI accelerator and Cobalt 100 CPU.</li><li>Maia 100 was specifically designed with consideration of Azure hardware. It will be mainly used for AI tasks and generative AI for maximized utilization of hardware.</li><li>It will power some of Microsoft’s largest internal AI workloads running on Azure. </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>

Microsoft unveiled two major custom-designed chips for cloud computing at its Ignite developer conference on 15 Nov 2023, Maia 100 AI accelerator and Cobalt 100 CPU.Maia 100 was specifically designed with consideration of Azure hardware. It will be mainly used for AI tasks and generative AI for maximized utilization of hardware.It will power some of Microsoft’s largest internal AI workloads running on Azure. 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.

Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,404/1,416 points and the support at 1,394/1,390 points (50-day and 10-day EMAs).</li><li>A close above the resistance at 1,404 points today would signal the initiation of the first significant uptrend of the year, with the next target resistance at 1,416/1,438 points.</li><li>We recommend stocks in the beverage sector that should benefit from the hot season: TACC, HTC, and SAPPE.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,404/1,416 points and the support at 1,394/1,390 points (50-day and 10-day EMAs).A close above the resistance at 1,404 points today would signal the initiation of the first significant uptrend of the year, with the next target resistance at 1,416/1,438 points.We recommend stocks in the beverage sector that should benefit from the hot season: TACC, HTC, and SAPPE.

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,386 points (25-day EMA)/1,379 points and the resistance at 1,396 points (50-day EMA)/1,400 points, as the index yesterday was unable to form a higher high and higher low pattern for the first time in five trading days.</li><li>Most Asian stock markets are closed for the Chinese New Year holiday.</li><li>We recommend stocks with positive factors: MINT, BA and MC.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,386 points (25-day EMA)/1,379 points and the resistance at 1,396 points (50-day EMA)/1,400 points, as the index yesterday was unable to form a higher high and higher low pattern for the first time in five trading days.Most Asian stock markets are closed for the Chinese New Year holiday.We recommend stocks with positive factors: MINT, BA and MC.

<ul><li>Technically, the SET Index is expected to weaken, with the support at 1,533/1,529 points (the gap opened on August 22) and the resistance at 1,550/1,555 points, based on the short-term direction, which is a downtrend.</li><li>The FTSE Index rebalancing will have an impact on closing prices today, which is expected to boost the market's volume, especially that of the securities added to or removed from the calculation.</li><li>China will report its economic data for August.</li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,533/1,529 points (the gap opened on August 22) and the resistance at 1,550/1,555 points, based on the short-term direction, which is a downtrend.The FTSE Index rebalancing will have an impact on closing prices today, which is expected to boost the market's volume, especially that of the securities added to or removed from the calculation.China will report its economic data for August.

United Kingdom

ARM Holdings designs and licenses semiconductor intellectual property (IP), including central processing unit (CPU) cores, graphics processing units (GPUs), and system IP. Its energy-efficient chip designs are widely used in smartphones, IoT devices, automotive systems, and computing infrastructure. The company is headquartered in Cambridge, United Kingdom, and was founded in 1990.

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ARM Holdings (ARM US)

Weekly Outlook: Volatile (Sell When the Index Gains and Buy When It Falls)

Technically, the SET Index is expected to move sideways up, with the resistance at 1,433/1,438 points and the support at 1,419/1,405 points (based...

Krungthai XSpring

Technology (Hardware/Semi)

Microsoft unveiled two major custom-designed chips for cloud computing at its Ignite developer conference on 15 Nov 2023, Maia 100 AI accelerator...

CMB International

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways up, with the resistance at 1,404/1,416 points and the support at 1,394/1,390 points...

Krungthai XSpring

Chinese New Year to Boost Tourism

Technically, the SET Index is expected to move sideways down, with the support at 1,386 points (25-day EMA)/1,379 points and the resistance at...

Krungthai XSpring

Today's Dominant Ideas

Technically, the SET Index is expected to weaken, with the support at 1,533/1,529 points (the gap opened on August 22) and the resistance at...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)