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>Although the baht depreciated, the SET rose for a second consecutive day, bolstered by two days of foreign investor buying and robust 1Q24 earnings.</li><li>This fueled increased buying momentum, particularly in energy, commerce, food, tourism, petrol and finance stocks.</li><li>Consequently, the index hit 1,362.53 points before retreating from profit taking.</li></ul>

Although the baht depreciated, the SET rose for a second consecutive day, bolstered by two days of foreign investor buying and robust 1Q24 earnings.This fueled increased buying momentum, particularly in energy, commerce, food, tourism, petrol and finance stocks.Consequently, the index hit 1,362.53 points before retreating from profit taking.

<ul><li>Asian bourses, including the SET, soared against rising US bond yields after tensions in the Middle East subsided.</li><li>A buying force quickly targeted large caps, such as banking, energy, finance, transportation, food and commerce stocks.</li><li>Meanwhile, foreign investors’ turn to buying helped the index move in positive territory all day, but volume remained light.</li></ul>

Asian bourses, including the SET, soared against rising US bond yields after tensions in the Middle East subsided.A buying force quickly targeted large caps, such as banking, energy, finance, transportation, food and commerce stocks.Meanwhile, foreign investors’ turn to buying helped the index move in positive territory all day, but volume remained light.

<ul><li>The SET was volatile in a tight range and faced profit taking after surging quickly.</li><li>However, the MPC meeting results were as expected, while the increase of energy, banking, petrol and commerce stocks provided a boost.</li><li>Consequently, the index was able to close up, even though foreign investors turned to sell.</li></ul>

The SET was volatile in a tight range and faced profit taking after surging quickly.However, the MPC meeting results were as expected, while the increase of energy, banking, petrol and commerce stocks provided a boost.Consequently, the index was able to close up, even though foreign investors turned to sell.

<ul><li>The Global Fund Manager Survey in October reconfirms a bear market atmosphere due to concerns over a global economic slowdown, which is prompting investors to overweight cash and underweight equities.</li><li>While the Thai market has not escaped being impacted by the bearishness as evidenced from the net selling by foreign investors and the weaker baht amid the stronger USD, we still hold a positive view thanks to the outlook for a more outstanding recovery in Thailand than other countries, based on the upward revision to the World Bank’s 2022E GDP projection from +2.9% to +3.1% YoY.</li><li>We maintain our recommendation for stocks under the reopening theme that should benefit from the peak seasons for spending and tourism. </li></ul>

The Global Fund Manager Survey in October reconfirms a bear market atmosphere due to concerns over a global economic slowdown, which is prompting investors to overweight cash and underweight equities.While the Thai market has not escaped being impacted by the bearishness as evidenced from the net selling by foreign investors and the weaker baht amid the stronger USD, we still hold a positive view thanks to the outlook for a more outstanding recovery in Thailand than other countries, based on the upward revision to the World Bank’s 2022E GDP projection from +2.9% to +3.1% YoY.We maintain our recommendation for stocks under the reopening theme that should benefit from the peak seasons for spending and tourism. 

Special Report: Global Fund Manager Survey

<ul><li>We suggest selling JMART after we recommended buying it yesterday because the stock has fallen out of our top rankings (with the return at +0.51%).</li><li>However, long-term investors may continue holding it, with the loss-stopping point at Bt48.00.</li><li>We add KKP to the portfolio, as the stock is likely to offer a YoY increase in the dividend payment for its1H22performance, which will be made in September, after it reported 1H22 earnings of Bt4,089mn, +45.1% YoY.</li></ul>

We suggest selling JMART after we recommended buying it yesterday because the stock has fallen out of our top rankings (with the return at +0.51%).However, long-term investors may continue holding it, with the loss-stopping point at Bt48.00.We add KKP to the portfolio, as the stock is likely to offer a YoY increase in the dividend payment for its1H22performance, which will be made in September, after it reported 1H22 earnings of Bt4,089mn, +45.1% YoY.

Thailand

Bumrungrad Hospital Public Company Limited, through its subsidiaries,  owns and operates the Bumrungrad Hospital. Located in Bangkok, the Hospital has capacity of international standard medical care with 554 beds for inpatients and approximately 125 clinic examination suites that can serve up to 3,000 outpatients daily.

Bumrungrad Hospital Pub Co (BH TB)

Technical Analysis - APRIL 24, 2024

Although the baht depreciated, the SET rose for a second consecutive day, bolstered by two days of foreign investor buying and robust 1Q24 earnings.

Krungthai XSpring

Technical Analysis - April 23, 2024

Asian bourses, including the SET, soared against rising US bond yields after tensions in the Middle East subsided. A buying force quickly targeted...

Krungthai XSpring

Technical Analysis - Feb 8, 2024

The SET was volatile in a tight range and faced profit taking after surging quickly. However, the MPC meeting results were as expected

Krungthai XSpring

Special Report: Global Fund Manager Survey

We maintain our recommendation for stocks under the reopening theme that should benefit from the peak seasons for spending and tourism

Krungthai XSpring

Big Cap Tactical Picks - August 9, 2022

We suggest selling JMART after we recommended buying it yesterday because the stock has fallen out of our top rankings (with the return at +0.51%).

Krungthai XSpring