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>KTX anticipates a potential improvement in Thailand's international trade for the remainder of the year, following May’s trade surplus of USD0.656bn.</li><li>This surplus was achieved with imports declining by 1.7% YoY, driven by reduced imports of EVs.</li><li>Concurrently, exports surged to a 14-month high, rising by 7.2% YoY, buoyed by global trade volume trends expected to grow by 2.6% YoY due to easing inflationary pressures.</li></ul>

KTX anticipates a potential improvement in Thailand's international trade for the remainder of the year, following May’s trade surplus of USD0.656bn.This surplus was achieved with imports declining by 1.7% YoY, driven by reduced imports of EVs.Concurrently, exports surged to a 14-month high, rising by 7.2% YoY, buoyed by global trade volume trends expected to grow by 2.6% YoY due to easing inflationary pressures.

Economic Update – Exports & Imports - June 24, 2024

Cross Asset Strategy

<ul><li>Although many Asian bourses bounced up, the SET sank sharply amid concerns that the Fed would maintain interest rates at a high level, alongside the surge of US bond yields, the posting of XD and escalating tensions in the Middle East.</li><li>As a result, a selling force quickly targeted large cap stocks, and foreign investors kept selling heavily, causing the index to get closer to the previous low at 1,350  points.</li><li>The index reverted to its previous sideways movement, opening a gap down and forming two consecutive black candlesticks.</li></ul>

Although many Asian bourses bounced up, the SET sank sharply amid concerns that the Fed would maintain interest rates at a high level, alongside the surge of US bond yields, the posting of XD and escalating tensions in the Middle East.As a result, a selling force quickly targeted large cap stocks, and foreign investors kept selling heavily, causing the index to get closer to the previous low at 1,350  points.The index reverted to its previous sideways movement, opening a gap down and forming two consecutive black candlesticks.

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 28th. We estimate that they had an aggregated short interest worth USD3.2bn.</li>
<li>We tabulate league tables 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 Central Pattana, Bumrungrad Hospital, Bangkok Bank, Sri Trang Agro-Industry, Global Power Synergy, Central Pattana, Global Power Synergy, Bangkok Bank, Bumrungrad Hospital.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 28th. We estimate that they had an aggregated short interest worth USD3.2bn.
We tabulate league tables 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 Central Pattana, Bumrungrad Hospital, Bangkok Bank, Sri Trang Agro-Industry, Global Power Synergy, Central Pattana, Global Power Synergy, Bangkok Bank, Bumrungrad Hospital.


Thailand Short Interest Weekly (Aug 28th): Central Pattana, Bumrungrad Hospital, Bangkok Bank

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 21st. We estimate that they had an aggregated short interest worth USD3.3bn.</li>
<li>We tabulate league tables 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 Gulf Energy Development, TMBThanachart Bank, KCE Electronics, Bumrungrad Hospital, Central Pattana, Gulf Energy Development, TMBThanachart Bank, Bumrungrad Hospital, Kce Electronics.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 21st. We estimate that they had an aggregated short interest worth USD3.3bn.
We tabulate league tables 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 Gulf Energy Development, TMBThanachart Bank, KCE Electronics, Bumrungrad Hospital, Central Pattana, Gulf Energy Development, TMBThanachart Bank, Bumrungrad Hospital, Kce Electronics.


Thailand Short Interest Weekly (Aug 21st): Gulf Energy Development, TMBThanachart Bank

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 14th. We estimate that they had an aggregated short interest worth USD3.2bn.</li>
<li>We tabulate league tables 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 TMBThanachart Bank, Advanced Info Service, THAI AIRWAYS INTERNATIONAL, PTT Oil and Retail, Thai Oil, Advanced Info Service, TMBThanachart Bank, Thai Oil, PTT Oil&amp;Retail.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 14th. We estimate that they had an aggregated short interest worth USD3.2bn.
We tabulate league tables 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 TMBThanachart Bank, Advanced Info Service, THAI AIRWAYS INTERNATIONAL, PTT Oil and Retail, Thai Oil, Advanced Info Service, TMBThanachart Bank, Thai Oil, PTT Oil&amp;Retail.


Thailand Short Interest Weekly (Aug 14th): TMBThanachart Bank, Advanced Info Service, Thai Oil

Thailand

Hana Microelectronics engages in the manufacture and trading of electronic components, providing printed circuit board assemblies, integrated circuit assemblies and tests, and LED packaging and test services. It also offers electronics manufacturing and outsourced semiconductor assembly and testing services for various components. The company was founded in 1978 and is headquartered in Bangkok, Thailand.

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Hana Microelectronics (HANA TB)

Economic Update – Exports & Imports - June 24, 2024

KTX anticipates a potential improvement in Thailand's international trade for the remainder of the year, following May’s trade surplus of USD0.656bn.

Krungthai XSpring

Technical Analysis - APRIL 18, 2024

Although many Asian bourses bounced up, the SET sank sharply amid concerns that the Fed would maintain interest rates at a high level, alongside...

Krungthai XSpring

Thailand Short Interest Weekly (Aug 28th): Central Pattana, Bumrungrad Hospital, Bangkok Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Central Pattana (CPN TB), Bumrungrad Hospital (BH...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Aug 21st): Gulf Energy Development, TMBThanachart Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Gulf Energy Development (GULF TB), TMBThanachart...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Aug 14th): TMBThanachart Bank, Advanced Info Service, Thai Oil

We analyzed SET short interest report for the past week and highlighted short interest changes in TMBThanachart Bank (TTB TB), Advanced Info...

Ke Yan, CFA, FRM

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