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, we expect the SET Index to move sideways up, with the resistance at 1,409 points (75-day EMA)/1,416 points and the support at 1,390 points/1,386 points (25-day EMA).</li><li>KTX anticipates that the MPC will maintain the policy interest rate while awaiting clarity on the Digital Wallet scheme.</li><li>We recommend stocks that will benefit from the depreciation of the baht or the reduction of interest rates: ICHI, SAPPE and TIDLOR.</li></ul>

Technically, we expect the SET Index to move sideways up, with the resistance at 1,409 points (75-day EMA)/1,416 points and the support at 1,390 points/1,386 points (25-day EMA).KTX anticipates that the MPC will maintain the policy interest rate while awaiting clarity on the Digital Wallet scheme.We recommend stocks that will benefit from the depreciation of the baht or the reduction of interest rates: ICHI, SAPPE and TIDLOR.

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,375/1,380 points and the support at 1,357/1,352 points.</li><li>The consensus expects the labor market to slacken amid potential declines in inflation.</li><li>We recommend dividend plays: ADVANC, INTUCH and WHAUP.</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,375/1,380 points and the support at 1,357/1,352 points.The consensus expects the labor market to slacken amid potential declines in inflation.We recommend dividend plays: ADVANC, INTUCH and WHAUP.

<ul><li>We add ICHI to the portfolio in response to the government's tourism boost measure.</li><li>The firm's 2023E earnings are expected to have grown 69.4% to Bt1.08bn.</li><li>We suggest selling GULF as the stock has fallen out of our top rankings (return: -1.1%) and cutting losses on CK as the negative return at -6.8% has reached our threshold for loss cutting.</li></ul>

We add ICHI to the portfolio in response to the government's tourism boost measure.The firm's 2023E earnings are expected to have grown 69.4% to Bt1.08bn.We suggest selling GULF as the stock has fallen out of our top rankings (return: -1.1%) and cutting losses on CK as the negative return at -6.8% has reached our threshold for loss cutting.

<ul><li>We add MOSHI to the portfolio in response to the strong earnings prospects in 4Q23E, with expected growth of 70.7% QoQ and 17.4% YoY to Bt139mn.</li><li>We suggest selling ICHI as the stock has fallen out of our top rankings (return: -1.84%).</li></ul>

We add MOSHI to the portfolio in response to the strong earnings prospects in 4Q23E, with expected growth of 70.7% QoQ and 17.4% YoY to Bt139mn.We suggest selling ICHI as the stock has fallen out of our top rankings (return: -1.84%).

<ul><li>We recommend buying ICHI to reap the benefits of the high tourism season.</li><li>The firm's 2023E earnings are expected to have grown 69.4% YoY to Bt1.08bn.</li><li>We suggest selling BCP as the stock has fallen out of our top rankings (return: -1.83%).</li></ul>

We recommend buying ICHI to reap the benefits of the high tourism season.The firm's 2023E earnings are expected to have grown 69.4% YoY to Bt1.08bn.We suggest selling BCP as the stock has fallen out of our top rankings (return: -1.83%).

Thailand

Ichitan Group Public Company Limited is a leading Thai beverage manufacturer specializing in ready-to-drink green teas, herbal drinks, fruit juices, and energy drinks. The company produces a diverse portfolio of non-alcoholic beverages, including major brands like Ichitan Green Tea and Yen Yen. Headquartered in Bangkok, Thailand, the company was founded in 2010.

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Ichitan (ICHI TB)

Keep A Close Watch On The MPC Meeting

Technically, we expect the SET Index to move sideways up, with the resistance at 1,409 points (75-day EMA)/1,416 points and the support at 1,390...

Krungthai XSpring

Keep a Close Watch on US Employment Data

Technically, the SET Index is expected to move sideways, with the resistance at 1,375/1,380 points and the support at 1,357/1,352 points. The...

Krungthai XSpring

Big Cap Tactical Picks

We add ICHI to the portfolio in response to the government's tourism boost measure. The firm's 2023E earnings are expected to have grown 69.4% to...

Krungthai XSpring

BIG CAP Tactical Picks

We add MOSHI to the portfolio in response to the strong earnings prospects in 4Q23E, with expected growth of 70.7% QoQ and 17.4% YoY to...

Krungthai XSpring

Big Cap Tactical Picks

We recommend buying ICHI to reap the benefits of the high tourism season. The firm's 2023E earnings are expected to have grown 69.4% YoY to...

Krungthai XSpring

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