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.

Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points (25/10-day EMA).</li><li>In the medium term, the index remains in a large sideways range of 1,273-1,716 points.</li><li>The short-term trend continues to decline, with the index seeking a major support level, with a pattern of lower highs and lower lows for the eighth consecutive day.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points (25/10-day EMA).In the medium term, the index remains in a large sideways range of 1,273-1,716 points.The short-term trend continues to decline, with the index seeking a major support level, with a pattern of lower highs and lower lows for the eighth consecutive day.

BoJ Meeting; US Earnings From Apple and Amazon

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).</li>
<li>In this insight, we take a look at the potential ADDs/DELs for SET 50 during the index rebal event in December 2024.</li>
<li>At present, we see 3 ADDs and 3 DELs but since the reference period is yet to start, the rankings can fluctuate significantly before the base date.</li>
</ul>


The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
In this insight, we take a look at the potential ADDs/DELs for SET 50 during the index rebal event in December 2024.
At present, we see 3 ADDs and 3 DELs but since the reference period is yet to start, the rankings can fluctuate significantly before the base date.


Quiddity Leaderboard SET50 Dec 24: 3 Changes Likely; INTUCH-GULF Merger Should Be Monitored

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,360/1,350 points (1/2 and 2/3 of the Fibonacci range of 1,320-1,404 points) and the resistance at 1,371/1,375 points (25-day EMA/50-day EMA).</li><li>Consensus expectations for German inflation in May are +0.2% MoM and +2.4% YoY (compared to April's +0.5% MoM and +2.2% YoY).</li><li>We recommend stocks with positive news stories: TTB, HANA and SVI.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,360/1,350 points (1/2 and 2/3 of the Fibonacci range of 1,320-1,404 points) and the resistance at 1,371/1,375 points (25-day EMA/50-day EMA).Consensus expectations for German inflation in May are +0.2% MoM and +2.4% YoY (compared to April's +0.5% MoM and +2.2% YoY).We recommend stocks with positive news stories: TTB, HANA and SVI.

<ul><li>Technically, the SET Index is expected to increase, with the resistance at 1,395/1,404 points (10-day EMA) and the support at 1,373/1,366 points.</li><li>The results of the MSCI quarterly review will be announced tonight (i.e., Wednesday morning of November 11, 2023).</li><li>While US inflation in October may exhibit a slowdown, this development has already been factored into market expectations.</li></ul>

Technically, the SET Index is expected to increase, with the resistance at 1,395/1,404 points (10-day EMA) and the support at 1,373/1,366 points.The results of the MSCI quarterly review will be announced tonight (i.e., Wednesday morning of November 11, 2023).While US inflation in October may exhibit a slowdown, this development has already been factored into market expectations.

Krungthai XSpring Zoom Eng. November 14, 2023

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

Pertamina Geothermal Energy / Equity Capital Markets

<ul>
<li>Pertamina Geothermal Energy (PGE) is looking to raise around US$650m in its upcoming Indonesia IPO. PGE is an Indonesian state owned power producer which utilizes geothermal energy to produce electricity.</li>
<li>PGE currently manages 13 Geothermal Working Areas with a total capacity of 1,877 MW, of which 672 MW is owned by it, while 1,205 MW is via joint operations.</li>
<li>We have looked at the company's performance in our previous note. In this note, we talk about valuations.</li>
</ul>


Pertamina Geothermal Energy (PGE) is looking to raise around US$650m in its upcoming Indonesia IPO. PGE is an Indonesian state owned power producer which utilizes geothermal energy to produce electricity.
PGE currently manages 13 Geothermal Working Areas with a total capacity of 1,877 MW, of which 672 MW is owned by it, while 1,205 MW is via joint operations.
We have looked at the company's performance in our previous note. In this note, we talk about valuations.


Pertamina Geothermal Energy IPO - Thoughts on Valuation

Thailand

Electricity Generating Public Company Limited (EGCO Group) is a holding company that invests in power generation and energy-related businesses, operating as Thailand's first independent power producer. The company's power plants generate electricity from diverse fuel sources, including natural gas, coal, biomass, hydro, solar, and wind, in Thailand, the Asia-Pacific region, and North America. EGCO was established on May 12, 1992, and is headquartered in Bangkok, Thailand.

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Electricity Generating (EGCO-R TB)

BoJ Meeting; US Earnings From Apple and Amazon

Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points...

Krungthai XSpring

Quiddity Leaderboard SET50 Dec 24: 3 Changes Likely; INTUCH-GULF Merger Should Be Monitored

Although there are only three changes expected right now, there are multiple names just outside the border requiring small relative price changes...

Janaghan Jeyakumar, CFA

Strategic Daily Picks

Technically, the SET Index is expected to move sideways down, with the support at 1,360/1,350 points (1/2 and 2/3 of the Fibonacci range of...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 14, 2023

Technically, the SET Index is expected to increase, with the resistance at 1,395/1,404 points (10-day EMA) and the support at 1,373/1,366...

Krungthai XSpring

Pertamina Geothermal Energy IPO - Thoughts on Valuation

Pertamina Geothermal Energy is looking to raise around US$650m in its upcoming Indonesia IPO. In this note, we talk about valuations.

Sumeet Singh

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