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 most Asian bourses soared, the SET faced profit-taking pressure early in the morning session due to the upcoming long holiday and a lack of new positive catalysts.</li><li>This led to selling in large-cap stocks.</li><li>However, optimism surrounding the China-US trade negotiations attracted buying interest in the afternoon, particularly in DELTA, energy, and China play stocks, enabling the index to rebound and close up 0.99% from the previous wee</li></ul>

Although most Asian bourses soared, the SET faced profit-taking pressure early in the morning session due to the upcoming long holiday and a lack of new positive catalysts.This led to selling in large-cap stocks.However, optimism surrounding the China-US trade negotiations attracted buying interest in the afternoon, particularly in DELTA, energy, and China play stocks, enabling the index to rebound and close up 0.99% from the previous wee

<ul><li>The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.</li><li>Meanwhile, Asian markets traded mixed as investors awaited the outcome of China-US trade negotiations.</li><li>Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.</li></ul>

The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.Meanwhile, Asian markets traded mixed as investors awaited the outcome of China-US trade negotiations.Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.

<ul><li>The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.</li><li>Large-cap stocks took the lead, and the index showed a steady upward pattern.</li><li>The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. </li></ul>

The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.Large-cap stocks took the lead, and the index showed a steady upward pattern.The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. 

<ul><li>Technically, the SET Index is expected to weaken, with the support levels at 1,190 points (50-day EMA) and 1,185 points and the resistance at 1,210 and 1,214 points.</li><li>In the short term, the index appears to be entering a correction phase after rallying over 15% from this year’s new low of 1,056.41 points on April 8.</li><li>A reversal signal (hammer) appeared on Friday, suggesting the index may soften over the next 1-2 days. </li></ul>

Technically, the SET Index is expected to weaken, with the support levels at 1,190 points (50-day EMA) and 1,185 points and the resistance at 1,210 and 1,214 points.In the short term, the index appears to be entering a correction phase after rallying over 15% from this year’s new low of 1,056.41 points on April 8.A reversal signal (hammer) appeared on Friday, suggesting the index may soften over the next 1-2 days. 

KTX Zoom - Reports of Manufacturing and Services PMIs for China and the EU

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 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

Thailand

Central Pattana Public Company Limited and its subsidiaries develop properties including shopping centers, condominiums, and office, for sale and rental.  The Company's projects include Central Plaza Lardprao, Central Plaza Ram-indra,  Central Plaza Pinklao, Central Festival Center Pattaya, and Central Plaza Ratchada.

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Central Pattana Pub (CPN TB)

Technical Analysis - MAY 13, 2025

Although most Asian bourses soared, the SET faced profit-taking pressure early in the morning session due to the upcoming long holiday and a lack...

Krungthai XSpring

Technical Analysis - MAY 9, 2025

Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.

Krungthai XSpring

Technical Analysis - MAY 8, 2025

The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected.

Krungthai XSpring

KTX Zoom - Reports of Manufacturing and Services PMIs for China and the EU

Technically, the SET Index is expected to weaken, with the support levels at 1,190 points (50-day EMA) and 1,185 points and the resistance at 1,210...

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)