Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jun 13th. We estimate that they had an aggregated short interest worth USD2.0bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in TMBThanachart Bank, Bangkok Dusit.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jun 13th. We estimate that they had an aggregated short interest worth USD2.0bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in TMBThanachart Bank, Bangkok Dusit.


Thailand Short Interest Weekly (Jun 13th): TMBThanachart Bank, Bangkok Dusit

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jun 6th. We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Delta Electronics, Advanced Info Service, Krungthai Card, CP ALL, Ptt.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jun 6th. We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Delta Electronics, Advanced Info Service, Krungthai Card, CP ALL, Ptt.


Thailand Short Interest Weekly (Jun 6th): Delta Electronics, Advanced Info Service, Krungthai Card

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>KTX expects the index to remain volatile, with the resistance levels at 1,220/1,250 points and the support at 1,170/1,150 points.</li><li>Positive factors include a return of buying in risk assets, particularly if Trump eases tariff measures — such as delaying tariffs on specific sectors like automobiles and semiconductors, and signaling a reduction in reciprocal tariffs for US trading partners making progress in negotiations (e.g., South Korea, Japan); and if China announces details of a new economic stimulus package.</li><li>On the domestic front, key factors to watch include the successful launch of the TESG Extra Fund, expected to generate Bt15-20bn in new capital inflows, and progress in Thailand’s negotiations on reciprocal tariffs with the US, along with the government’s gradual rollout of economic stimulus measures to offset trade war impacts (notably, the IMF has cut its 2025E global GDP growth forecast from 2.9% to 1.8%).</li></ul>

KTX expects the index to remain volatile, with the resistance levels at 1,220/1,250 points and the support at 1,170/1,150 points.Positive factors include a return of buying in risk assets, particularly if Trump eases tariff measures — such as delaying tariffs on specific sectors like automobiles and semiconductors, and signaling a reduction in reciprocal tariffs for US trading partners making progress in negotiations (e.g., South Korea, Japan); and if China announces details of a new economic stimulus package.On the domestic front, key factors to watch include the successful launch of the TESG Extra Fund, expected to generate Bt15-20bn in new capital inflows, and progress in Thailand’s negotiations on reciprocal tariffs with the US, along with the government’s gradual rollout of economic stimulus measures to offset trade war impacts (notably, the IMF has cut its 2025E global GDP growth forecast from 2.9% to 1.8%).

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of May 2nd. We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf Energy Development, Tisco Financial, True, Cp Foods, Central Retail.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of May 2nd. We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league table for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf Energy Development, Tisco Financial, True, Cp Foods, Central Retail.


Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

<ul><li>Technically, the SET Index is expected to move in a sideways-up pattern, with the resistance levels at 1,160/1,164 points and the support at 1,147/1,142 points (10-day EMA).</li><li>In the short term, the index remains in a rally phase after hitting a new low for the year at 1,056.41 points on April 8.</li><li>There are signs of a potential medium-term trend reversal from bearish to bullish, forming patterns such as a bullish flag, double bottom, or W-shape.</li></ul>

Technically, the SET Index is expected to move in a sideways-up pattern, with the resistance levels at 1,160/1,164 points and the support at 1,147/1,142 points (10-day EMA).In the short term, the index remains in a rally phase after hitting a new low for the year at 1,056.41 points on April 8.There are signs of a potential medium-term trend reversal from bearish to bullish, forming patterns such as a bullish flag, double bottom, or W-shape.

KTX Zoom: US Earnings Results & Durable Goods Orders - APRIL 24, 2025

Thailand

Berli Jucker PCL is a large Thai conglomerate whose business spans various industries. The Company's operations include the distribution and manufacturing of its own products plus contract distribution and manufacturing for other firms. BJC's core lines of business are packaging, consumer, healthcare, technical and other businesses.

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Berli Jucker (BJC TB)

Thailand Short Interest Weekly (Jun 13th): TMBThanachart Bank, Bangkok Dusit

We analyzed SET short interest report for the past week and highlighted short interest changes in TMBThanachart Bank, Bangkok Dusit.

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Jun 6th): Delta Electronics, Advanced Info Service, Krungthai Card

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Advanced Info Service,...

Ke Yan, CFA, FRM

Monthly Report: May 2025

Positive factors include a return of buying in risk assets, particularly if Trump eases tariff measures — such as delaying tariffs on specific...

Krungthai XSpring

Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf...

Ke Yan, CFA, FRM

KTX Zoom: US Earnings Results & Durable Goods Orders - APRIL 24, 2025

We recommend selling into rallies for short-term trading, but accumulate for long-term investors, as this year’s downtrend appears to have come to...

Krungthai XSpring

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