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

DZT Research

DZT 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 May 1st. 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 Thai Oil, Bangkok Bank, SCB X, CP Foods, TISCO Financial, Scb X, Thai Oil, Tisco Financial, Bangkok Bank, Cp Foods.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of May 1st. 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 Thai Oil, Bangkok Bank, SCB X, CP Foods, TISCO Financial, Scb X, Thai Oil, Tisco Financial, Bangkok Bank, Cp Foods.


Thailand Short Interest Weekly (May 1st): Thai Oil, Bangkok Bank, SCB X, CP Foods, TISCO Financial

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>There is roughly one month left in the 3-month reference period used for selection ranks.</li>
<li>The expected ADDs/DELs list has remained unchanged since our last insight but the names close to the border can still move in or out of this list.</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).
There is roughly one month left in the 3-month reference period used for selection ranks.
The expected ADDs/DELs list has remained unchanged since our last insight but the names close to the border can still move in or out of this list.


Quiddity Leaderboard SET50 Jun26: Borderline Names Could Still Swap Places

Thai Airways International / 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.</li>
<li>In this insight, we look at the potential ADDs/DELs and capping flows for SET 50 for the June 2026 index rebal event. </li>
<li>Roughly a month ago, we were expecting only two ADDs/DELs. Now we see four ADDs/DELs.</li>
</ul>


The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand.
In this insight, we look at the potential ADDs/DELs and capping flows for SET 50 for the June 2026 index rebal event. 
Roughly a month ago, we were expecting only two ADDs/DELs. Now we see four ADDs/DELs.


Quiddity Leaderboard SET50 Jun26: Four ADDs/DELs Likely; Many Potential DELs Close to the Border

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 20th. We estimate that they had an aggregated short interest worth USD3.4bn.</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 True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True, Thaifoods.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Mar 20th. We estimate that they had an aggregated short interest worth USD3.4bn.
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 True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True, Thaifoods.


Thailand Short Interest Weekly (Mar 20th): True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True

<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 present our latest capping flow expectations for the March 2026 index rebal event.</li>
<li>Separately, we have also shown our expectations for index changes in the next index review in June 2026.</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 present our latest capping flow expectations for the March 2026 index rebal event.
Separately, we have also shown our expectations for index changes in the next index review in June 2026.


Quiddity Leaderboard SET50 Jun26: Delta Capping in Mar26; One Index Change Likely in Jun26

Thailand

i-Tail Corporation Public Company Limited manufactures, imports, and distributes pet food products, including wet and dry food for cats and dogs, treats, and kidney-friendly options. The company sells its products under brands such as Bellotta, Marvo, ChangeTer, Calico Bay, and Paramount. It was founded in 1981 and is headquartered in Bangkok, Thailand.

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i-Tail Corporation (ITC TB)

Thailand Short Interest Weekly (May 1st): Thai Oil, Bangkok Bank, SCB X, CP Foods, TISCO Financial

We analyzed SET short interest report for the past week and highlighted short interest changes in Thai Oil (TOP TB), Bangkok Bank (BBL TB), SCB X...

Ke Yan, CFA, FRM

Quiddity Leaderboard SET50 Jun26: Borderline Names Could Still Swap Places

Index members Central Plaza (CENTEL TB), Osotspa (OSP TB), and Land & Houses (LH TB) are in the top 50. However, if they underperform other names,...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard SET50 Jun26: Four ADDs/DELs Likely; Many Potential DELs Close to the Border

There are several potential deletions close to the border that could drop out of the top 50 if they underperform other names by small margins.

Janaghan Jeyakumar, CFA

Thailand Short Interest Weekly (Mar 20th): True, Intouch, Thaifoods, CH. Karnchang, Srisawad, True

We analyzed SET short interest report for the past week and highlighted short interest changes in True, Intouch, Thaifoods, CH. Karnchang,...

Ke Yan, CFA, FRM

Quiddity Leaderboard SET50 Jun26: Delta Capping in Mar26; One Index Change Likely in Jun26

There are multiple potential DELs close to the border. If they underperform other names sharply, more index changes could be triggered in June 2026.

Janaghan Jeyakumar, CFA

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