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 with a weak rebound pattern, with the support levels at 1,192/1,187 points and the resistance levels at 1,212/1,217 points.</li><li>KTX expects the MPC to maintain the policy rate in today's meeting, given Thailand's inflation remains on a recovery path.</li><li>Foreign fund inflows into the SET may strengthen significantly, based on the following factors: i) The MPC is likely to maintain interest rates and refrain from signaling a rate cut, despite calls for a rate decrease from the prime minister and several industries.</li></ul>

Technically, the SET Index is expected to move with a weak rebound pattern, with the support levels at 1,192/1,187 points and the resistance levels at 1,212/1,217 points.KTX expects the MPC to maintain the policy rate in today's meeting, given Thailand's inflation remains on a recovery path.Foreign fund inflows into the SET may strengthen significantly, based on the following factors: i) The MPC is likely to maintain interest rates and refrain from signaling a rate cut, despite calls for a rate decrease from the prime minister and several industries.

<ul><li>Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,236/1,230 points and the resistance at 1,254/1,260 points.</li><li>Investment strategy: Shift to waiting to do trading buy when the index nears its previous low or hits a new low; this is based on expectations that foreign fund flows may continue to enter the Thai stock market, improving the risk-reward profile as risks become more limited.</li><li>This is expected to encourage increased fund inflows into Asia and Thailand, benefiting stocks that are key targets for foreign investors.</li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,236/1,230 points and the resistance at 1,254/1,260 points.Investment strategy: Shift to waiting to do trading buy when the index nears its previous low or hits a new low; this is based on expectations that foreign fund flows may continue to enter the Thai stock market, improving the risk-reward profile as risks become more limited.This is expected to encourage increased fund inflows into Asia and Thailand, benefiting stocks that are key targets for foreign investors.

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish on MSCI ACWI. Discussed in latest Int’l Compass (1/9/2025) how viewed the pullback as buying opportunity and were watching for $116-$117 support to hold on ACWI-US.</li>
<li>$116 support held perfectly and we expect upside to continue following 1+ month bull flag breakouts, followed by successful retests of support, on ACWI-US and the S&amp;P 500.</li>
<li>We also upgraded Germany to overweight last week, with RS on the DAX breaking out from a 2-year base. U.S. (SPX) and Germany are our only two country overweights.</li>
</ul>


Our outlook remains bullish on MSCI ACWI. Discussed in latest Int’l Compass (1/9/2025) how viewed the pullback as buying opportunity and were watching for $116-$117 support to hold on ACWI-US.
$116 support held perfectly and we expect upside to continue following 1+ month bull flag breakouts, followed by successful retests of support, on ACWI-US and the S&amp;P 500.
We also upgraded Germany to overweight last week, with RS on the DAX breaking out from a 2-year base. U.S. (SPX) and Germany are our only two country overweights.


Remain Risk-On With Market Dynamics Improving; 6+ Month Base Breakouts for MSCI ACWI Ex-US and EAFE

<ul><li>The market sentiment turned positive following the arrival of the CEO from Nvidia, while most Asian bourses continued to rebound.</li><li>The index was able to climb further, signaling a clear rebound.</li><li>The index is expected to rise further.</li></ul>

The market sentiment turned positive following the arrival of the CEO from Nvidia, while most Asian bourses continued to rebound.The index was able to climb further, signaling a clear rebound.The index is expected to rise further.

Recommendation: Buy on Weakness, Sell on Strength

<ul><li>Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,425/1,411 points (50-week EMA) and the resistance at 1,442/1,445 points (50-day and 10-day EMA).</li><li>In the short term, a technical sell signal was triggered yesterday (falling below 1,432 points for the first time), reflecting a downward trend toward the key support levels at 1,411/1,405 points, respectively.</li><li>We maintain the recommendation to sell on rallies until a new technical buy signal emerges.</li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,425/1,411 points (50-week EMA) and the resistance at 1,442/1,445 points (50-day and 10-day EMA).In the short term, a technical sell signal was triggered yesterday (falling below 1,432 points for the first time), reflecting a downward trend toward the key support levels at 1,411/1,405 points, respectively.We maintain the recommendation to sell on rallies until a new technical buy signal emerges.

Krungthai XSpring Zoom Eng. November 28, 2024

Canada

Brookfield Asset Management Ltd. operates as an investment management firm. The Company focuses on property development, renewable energy, infrastructure, insurance, and private equity. Brookfield Asset Management serves customers worldwide.

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Brookfield Asset Management Lt (BAM US)

MPC Meeting & Earnings Results of Nvidia

Technically, the SET Index is expected to move with a weak rebound pattern, with the support levels at 1,192/1,187 points and the resistance...

Krungthai XSpring

Weekly Strategy & Thai Trade Balance

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,236/1,230 points and the resistance at...

Krungthai XSpring

Remain Risk-On With Market Dynamics Improving; 6+ Month Base Breakouts for MSCI ACWI Ex-US and EAFE

Remain Risk-On With Market Dynamics Improving; 6+ Month Base Breakouts for MSCI $ACWI ex-US and $EAFE; U.S. Dollar $DXY and 10-Year Yields $TNX...

Vermilion Research

Recommendation: Buy on Weakness, Sell on Strength

The market sentiment turned positive following the arrival of the CEO from Nvidia, while most Asian bourses continued to rebound. The index was...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 28, 2024

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,425/1,411 points (50-week EMA) and the resistance...

Krungthai XSpring

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