Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

Asean (Thailand) Focused Independent Research

M Corp Review

M Corp is led by Athaporn Arayasantiparb who served as Head of Research for UOB and ANZ in Thailand and was an award-winning telecoms analyst at UBS in 2010 (AsiaMoney Thailand category) and Regional Strategist for DMG in Singapore. Prior to that, he also served as Kasikornbank credit analyst and scholar. He has a total work experience of 17 years, of which 14 were in research and 4 in research management roles. He started his career as an engineer for PTT and currently manages family investments. He holds an MBA from Stern (NYU) and CFA Charter since 2006. Apart from IPO Radar, which focuses on future listings, MCorp Review also provides six on-going thematic series ranked by frequency in descending order, namely: 1) Silicon Stories (technology) 2) Sathorn Series (financial services) 3) Thai-Coons (billionaire origin stories) 4) Reality Check (data-driven, investigative) 5) Thai Media Spotlight; and 6) Thai Macro Watch (global market drivers).

Thematic (Sector/Industry)

Locals out, Hollywood in. Ever since the comedy Pee Mak Prakhanong by Grammy grossed Bt1bn in 2013 and was translated to Indonesian, where the story resembles the local folklore Pontianak, none of the Thai films ever did that well in local box offices again. Bad Genius, also by the same company based on a true story of two Thai students making millions off a scam cheating in a Australian test center, made only Bt100m locally, eventhough it did manage to pull in US$30m in China and was voted Best…

Locals out, Hollywood in. Ever since the comedy Pee Mak Prakhanong by Grammy grossed Bt1bn in 2013 and was translated to Indonesian, where the story resembles the local folklore Pontianak, none of the Thai films ever did that well in local box offices again. Bad Genius, also by the same company based on a true story of two Thai students making millions off a scam cheating in a Australian test center, made only Bt100m locally, eventhough it did manage to pull in US$30m in China and was voted Best…

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 up, with the resistance at 1,405/1,412 points (10-day and 25-day EMA) and the support at 1,385/1,378 points.</li><li>The consideration of informal debts (formal debts will be considered on December 12).</li><li>Approval of the E-refund scheme, enabling tax deductions of up to Bt50k for goods purchased from tax-registered shops with e-receipts between January 1 and February 15, 2024.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,405/1,412 points (10-day and 25-day EMA) and the support at 1,385/1,378 points.The consideration of informal debts (formal debts will be considered on December 12).Approval of the E-refund scheme, enabling tax deductions of up to Bt50k for goods purchased from tax-registered shops with e-receipts between January 1 and February 15, 2024.

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,393/1,388 points and the resistance at 1,410/1,450 points (10-day EMA/25-day EMA).</li><li>The S&P Global PMIs are expected to fall slightly to 49.8 (vs. 50), 50.4 (vs. 50.6) and 50.6 (vs. 50.7), respectively, reflecting a resilient US economy, despite a modest slowdown from the previous month.</li><li>The market will be focusing on ECB President Lagarde's speech, which will indicate the direction of the ECB's policy interest rate.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,393/1,388 points and the resistance at 1,410/1,450 points (10-day EMA/25-day EMA).The S&P Global PMIs are expected to fall slightly to 49.8 (vs. 50), 50.4 (vs. 50.6) and 50.6 (vs. 50.7), respectively, reflecting a resilient US economy, despite a modest slowdown from the previous month.The market will be focusing on ECB President Lagarde's speech, which will indicate the direction of the ECB's policy interest rate.

Krungthai XSpring Zoom Eng. November 24, 2023

Bangkok Dusit Medical Services / Equity Bottom-Up

<ul><li>The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points.</li><li>The market is awaiting new positive catalysts to support a fresh rally.</li><li>Technically, investors are suggested to do short-term trading buy on defensive plays that underperformed the market previously, such as those in the health care and infrastructure sectors.</li></ul>

The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points.The market is awaiting new positive catalysts to support a fresh rally.Technically, investors are suggested to do short-term trading buy on defensive plays that underperformed the market previously, such as those in the health care and infrastructure sectors.

<ul><li>The SET Index is expected to gain, with the support at 1,660/1,652 points and the resistance at 1,680/1,690 points.</li><li>Technically, the index is likely to rebound after it was able to close above the support at 1,670 points and stayed above the 10-day moving average.</li><li>Tactically, investors are suggested to do trading buy in the short term at the aforementioned support, with the loss-stopping point at 1,652 points, focusing on laggard plays in the food, retail and ICT sectors that are at low risk of being sold for sector rotations.</li></ul>

The SET Index is expected to gain, with the support at 1,660/1,652 points and the resistance at 1,680/1,690 points.Technically, the index is likely to rebound after it was able to close above the support at 1,670 points and stayed above the 10-day moving average.Tactically, investors are suggested to do trading buy in the short term at the aforementioned support, with the loss-stopping point at 1,652 points, focusing on laggard plays in the food, retail and ICT sectors that are at low risk of being sold for sector rotations.

Thailand

JKN Global Group Public Company Limited is a Thai multinational conglomerate primarily engaged in content distribution, including movies, series, and documentaries. The company also produces and distributes non-alcoholic beverages, health, beauty, and consumer products. Additionally, it provides advertising services, operates digital television stations, and manages the Miss Universe license. JKN Global Group was founded in 2013 and is headquartered in Samut Prakan, Thailand.

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JKN Global Group (JKN TB)

Thai Movie Spotlight: Hollywood Cometh

Locals out, Hollywood in. Ever since the comedy Pee Mak Prakhanong by Grammy grossed Bt1bn in 2013 and was translated to Indonesian, where the...

Athaporn Arayasantiparb, CFA

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways up, with the resistance at 1,405/1,412 points (10-day and 25-day EMA) and the support at...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 24, 2023

Technically, the SET Index is expected to move sideways down, with the support at 1,393/1,388 points and the resistance at 1,410/1,450 points...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points. The market is...

Krungthai XSpring

Technical Analysis

The SET Index is expected to gain, with the support at 1,660/1,652 points and the resistance at 1,680/1,690 points. Technically, the index is...

Krungthai XSpring

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