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>KBANK has been removed from the rankings, with a holding period return of +0.2%.</li><li>Meanwhile, BTS has been added to the portfolio due to tactical reasons and expectations that its core business will return to profitability.</li><li>The decline in ICT stock prices dragged the portfolio's average total return down by 0.03%, in contrast to the SET Index, which rose by 0.38%.</li></ul>

KBANK has been removed from the rankings, with a holding period return of +0.2%.Meanwhile, BTS has been added to the portfolio due to tactical reasons and expectations that its core business will return to profitability.The decline in ICT stock prices dragged the portfolio's average total return down by 0.03%, in contrast to the SET Index, which rose by 0.38%.

BHP Billiton Plc (ADR) / Equity Bottom-Up

<ul><li>The KTX Tactical Picks portfolio delivered an average return of +1.0% yesterday, compared to +0.3% for the SET, driven by the outperformance of BBL, KBANK, MTC, and INTUCH.</li><li>As INTUCH will be suspended from trading starting March 21 for the amalgamation process, the position will be closed, with a holding period return of +5.1%.</li><li>KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

The KTX Tactical Picks portfolio delivered an average return of +1.0% yesterday, compared to +0.3% for the SET, driven by the outperformance of BBL, KBANK, MTC, and INTUCH.As INTUCH will be suspended from trading starting March 21 for the amalgamation process, the position will be closed, with a holding period return of +5.1%.KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.

Quantitative Analysis

<ul><li>KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.</li><li>Stocks are selected based on EPS growth and relative changes to their KTX valuations.</li><li>The profit-taking in financial sector stocks (except for KBANK, whose share price rallied on a special dividend announcement) pressured the performance of the KTX Tactical Picks portfolio this morning, causing it to underperform the market (average return of -0.36% vs. +0.08% for the SET).</li></ul>

KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.Stocks are selected based on EPS growth and relative changes to their KTX valuations.The profit-taking in financial sector stocks (except for KBANK, whose share price rallied on a special dividend announcement) pressured the performance of the KTX Tactical Picks portfolio this morning, causing it to underperform the market (average return of -0.36% vs. +0.08% for the SET).

Technical Analysis

<ul><li>President Trump signaled a potential interest rate cut and a possible easing of the trade war with China, helping the Hang Seng lead the Asian markets with a strong rebound.</li><li>The index surged quickly, setting its sights on testing resistance at 1,364 points.</li><li>Moving forward, the index is expected to either continue its rebound or trade sideways as it waits for stronger volume to confirm the trend.</li></ul>

President Trump signaled a potential interest rate cut and a possible easing of the trade war with China, helping the Hang Seng lead the Asian markets with a strong rebound.The index surged quickly, setting its sights on testing resistance at 1,364 points.Moving forward, the index is expected to either continue its rebound or trade sideways as it waits for stronger volume to confirm the trend.

Recommendation: Buy On Weakness, Sell On Strength

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

Kioxia Holdings  / Equity Capital Markets

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, with a look at Japan &amp; Korea after having looked at HK &amp; India.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, with a look at Japan &amp; Korea after having looked at HK &amp; India.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2025 Asia IPO Pipeline - Japan and South Korea

South Korea

K Bank Co. Ltd. operates banking businesses. The Company provides deposits, withdrawals, loans, and other services. K Bank conducts businesses in South Korea.

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K Bank (279570 KS)

KTX Tactical Picks

KBANK has been removed from the rankings, with a holding period return of +0.2%. Meanwhile, BTS has been added to the portfolio due to tactical...

Krungthai XSpring

KTX Tactical Picks

The KTX Tactical Picks portfolio delivered an average return of +1.0% yesterday, compared to +0.3% for the SET, driven by the outperformance of...

Krungthai XSpring

KTX Tactical Picks

KTX's Tactical Picks portfolio is constructed within SET100 Index constituents. Stocks are selected based on EPS growth and relative changes to...

Krungthai XSpring

Recommendation: Buy On Weakness, Sell On Strength

President Trump signaled a potential interest rate cut and a possible easing of the trade war with China, helping the Hang Seng lead the Asian...

Krungthai XSpring

Aequitas 2025 Asia IPO Pipeline - Japan and South Korea

In this note, we will take a look at the Asia Pacific IPO pipeline for 2025, with a look at Japan & Korea after having looked at HK & India.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)