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>(+)The CME FedWatch Tool shows a 22.1% probability of an October Fed rate hike, down from 64.2% the previous week, following weaker-than-expected US jobs data.</li>
<li>(-) Brent crude holds above USD100/bbl despite the G7 agreeing to release emergency oil reserves, as Middle East tensions persist.</li>
<li>(+) The government is seeking Bt75bn in loan funding for the "Solar for the People" program, offering Bt50,000 per household to cover 1.5mn homes.</li>
</ul>


(+)The CME FedWatch Tool shows a 22.1% probability of an October Fed rate hike, down from 64.2% the previous week, following weaker-than-expected US jobs data.
(-) Brent crude holds above USD100/bbl despite the G7 agreeing to release emergency oil reserves, as Middle East tensions persist.
(+) The government is seeking Bt75bn in loan funding for the "Solar for the People" program, offering Bt50,000 per household to cover 1.5mn homes.


<ul><li>Electronics stocks are supported by easing US Treasury yields.</li><li>Chinese refiners will suspend oil-product exports in October to preserve domestic inventories, supporting refinery crack spreads (TOP, SPRC, BCP).</li><li>The US dollar strengthened for a sixth consecutive quarter, and the baht may weaken toward Bt33.90/USD.</li></ul>

Electronics stocks are supported by easing US Treasury yields.Chinese refiners will suspend oil-product exports in October to preserve domestic inventories, supporting refinery crack spreads (TOP, SPRC, BCP).The US dollar strengthened for a sixth consecutive quarter, and the baht may weaken toward Bt33.90/USD.

Technical Analysis

<ul><li>Tokyo, Taiwan and South Korean stock markets surged, while the US PCE inflation figure came in below expectations, raising hopes for a rebound in the SET after its sharp decline.</li><li>The modest rebound following the sharp decline suggests that selling pressure at higher levels continues to limit gains, leaving the index vulnerable to further weakness.</li><li>We recommend buying on weakness near key support levels, as the index is likely to trade sideways.</li></ul>

Tokyo, Taiwan and South Korean stock markets surged, while the US PCE inflation figure came in below expectations, raising hopes for a rebound in the SET after its sharp decline.The modest rebound following the sharp decline suggests that selling pressure at higher levels continues to limit gains, leaving the index vulnerable to further weakness.We recommend buying on weakness near key support levels, as the index is likely to trade sideways.

<ul><li>Although oil prices declined, US bond yields remained elevated, and foreign investors were net sellers for the seventh consecutive session.</li><li>The SET Index posted the region's steepest decline, falling closer to its previous base at 1,550 points.</li><li>We continue to recommend buying on weakness near key support levels, where a rebound remains possible.</li></ul>

Although oil prices declined, US bond yields remained elevated, and foreign investors were net sellers for the seventh consecutive session.The SET Index posted the region's steepest decline, falling closer to its previous base at 1,550 points.We continue to recommend buying on weakness near key support levels, where a rebound remains possible.

<ul><li>Markets are pricing in a lower probability of an October Fed rate hike as the US labor market weakens and consumer confidence plunges, supporting a tech rebound.</li><li>The government is proceeding with the Bt160bn Chai Nat-Pa Sak-Gulf of Thailand drainage project, directly benefiting major contractors (STECON, CK).</li><li>US diesel export restrictions could further tighten the global diesel market, keeping refiners' market GRMs elevated longer (BCP, SPRC).</li></ul>

Markets are pricing in a lower probability of an October Fed rate hike as the US labor market weakens and consumer confidence plunges, supporting a tech rebound.The government is proceeding with the Bt160bn Chai Nat-Pa Sak-Gulf of Thailand drainage project, directly benefiting major contractors (STECON, CK).US diesel export restrictions could further tighten the global diesel market, keeping refiners' market GRMs elevated longer (BCP, SPRC).

India

Delta Corp Limited is a dominant Indian public company specializing in gaming and hospitality. The company operates offshore and land-based casinos under the Deltin Casinos & Hotels brand, primarily in Goa, Sikkim, and Nepal, offering live and electronic gaming. It also owns and manages luxury hotels and resorts in Goa and Daman. Headquartered in Mumbai, Maharashtra, India, Delta Corp was incorporated in 1990.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Delta (DELTA IN)

SET Index Outlook

(+)The CME FedWatch Tool shows a 22.1% probability of an October Fed rate hike, down from 64.2% the previous week, following weaker-than-expected...

Krungthai XSpring

SET Index Outlook

Electronics stocks are supported by easing US Treasury yields. Chinese refiners will suspend oil-product exports in October to preserve domestic...

Krungthai XSpring

Recommendation: Buy On Weakness

Tokyo, Taiwan and South Korean stock markets surged, while the US PCE inflation figure came in below expectations, raising hopes for a rebound in...

Krungthai XSpring

Technical Analysis

Although oil prices declined, US bond yields remained elevated, and foreign investors were net sellers for the seventh consecutive session. The...

Krungthai XSpring

SET Index Outlook

Markets are pricing in a lower probability of an October Fed rate hike as the US labor market weakens and consumer confidence plunges, supporting...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)