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>An explosion occurred at a Valero Energy refinery in Port Arthur on the evening of Monday, March 23 (local time).</li><li>The Valero refinery is a large, complex facility located on the US Gulf Coast and is a net diesel exporter to Europe and Latin America.</li><li>We are positive in the short term on diesel and jet crack spreads, as global supply is expected to tighten.</li></ul>

An explosion occurred at a Valero Energy refinery in Port Arthur on the evening of Monday, March 23 (local time).The Valero refinery is a large, complex facility located on the US Gulf Coast and is a net diesel exporter to Europe and Latin America.We are positive in the short term on diesel and jet crack spreads, as global supply is expected to tighten.

Energy (Refinery): An Explosion Occurred At A Valero Refinery (400kbd Capacity) In Texas

<ul><li>The SET Index is expected to move downward, with the support levels at 1,088/1,080 points and the resistance levels at 1,100/1,107 points.</li><li>Technically, the trend remains bearish, with a possibility of retesting this year's low at 1,056.41 points (recorded on April 8).</li><li>The market is being weighed down by negative factors, especially domestic ones.</li></ul>

The SET Index is expected to move downward, with the support levels at 1,088/1,080 points and the resistance levels at 1,100/1,107 points.Technically, the trend remains bearish, with a possibility of retesting this year's low at 1,056.41 points (recorded on April 8).The market is being weighed down by negative factors, especially domestic ones.

Political Uncertainty Weighing on the Market

Rojana Industrial Park / Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways, with resistance at 1,270/1,275 points and the support at 1,254/1,244 points.</li><li>In the medium term, the index remains in a zig-zag down downtrend, searching for the bottom within the 1,220-1,506 point range.</li><li>In the short term, a technical rebound is underway after the index hit a 4-year 3-month low at 1,236.80 points (on the morning of Monday, Feb. 17).</li></ul>

Technically, the SET Index is expected to move sideways, with resistance at 1,270/1,275 points and the support at 1,254/1,244 points.In the medium term, the index remains in a zig-zag down downtrend, searching for the bottom within the 1,220-1,506 point range.In the short term, a technical rebound is underway after the index hit a 4-year 3-month low at 1,236.80 points (on the morning of Monday, Feb. 17).

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.</li><li>Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.</li><li>Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.

Krungthai XSpring Zoom Eng. January 27, 2025

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points.</li><li>US: The December retail sales report is expected to show growth of +0.6% MoM and +4% YoY (vs. +0.7% MoM and +3.8% YoY in November).</li><li>US stock markets posted the largest single-day gain in two months, boosted by lower-than-expected core inflation.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points.US: The December retail sales report is expected to show growth of +0.6% MoM and +4% YoY (vs. +0.7% MoM and +3.8% YoY in November).US stock markets posted the largest single-day gain in two months, boosted by lower-than-expected core inflation.

US Retail Sales and 4Q24 Earnings Results

Portugal

Banco Comercial Portugues, S.A. (BCP) attracts deposits and offers commercial and investment banking services. The Bank offers consumer loans, factoring, lease financing, mortgages, insurance, securities brokerage, investment funds, and credit cards. BCP operates offices in Europe, the Americas, Africa, and China.

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Banco Comercial Portugues SA (BCP PL)

Energy (Refinery): An Explosion Occurred At A Valero Refinery (400kbd Capacity) In Texas

The Valero refinery is a large, complex facility located on the US Gulf Coast and is a net diesel exporter to Europe and Latin America.

Krungthai XSpring

Political Uncertainty Weighing on the Market

The SET Index is expected to move downward, with the support levels at 1,088/1,080 points and the resistance levels at 1,100/1,107...

Krungthai XSpring

Strategic Daily Picks

Technically, the SET Index is expected to move sideways, with resistance at 1,270/1,275 points and the support at 1,254/1,244 points. In the...

Krungthai XSpring

Krungthai XSpring Zoom Eng. January 27, 2025

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370...

Krungthai XSpring

US Retail Sales and 4Q24 Earnings Results

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points. US:...

Krungthai XSpring

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52-week Range

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