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

Chibougamau Independent Mines / Equity Bottom-Up

<ul><li>We add CBG to the portfolio, supported by a projected two-year EPS CAGR of 12%.</li><li>Conversely, we suggest divesting KTB, BLA, and TLI, as they no longer meet the ranking criteria, with holding period returns of -2.5%, -13.8%, and -10.1%, respectively.</li><li>KTX's SET100 Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

We add CBG to the portfolio, supported by a projected two-year EPS CAGR of 12%.Conversely, we suggest divesting KTB, BLA, and TLI, as they no longer meet the ranking criteria, with holding period returns of -2.5%, -13.8%, and -10.1%, respectively.KTX's SET100 Tactical Picks portfolio is constructed within SET100 Index constituents.

Krungthai Xspring SET100 TACTICAL PICKS - November 15, 2024 (Eng.)

<ul><li>KTB has been added to the portfolio to benefit from the acceleration of government projects and its strong asset quality.</li><li>KTX's SET100 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></ul>

KTB has been added to the portfolio to benefit from the acceleration of government projects and its strong asset quality.KTX's SET100 Tactical Picks portfolio is constructed within SET100 Index constituents.Stocks are selected based on EPS growth and relative changes to their KTX valuations.

Krungthai Xspring SET100 Tactical Picks - November 8, 2024 (Eng.)

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points (25/10-day EMA).</li><li>In the medium term, the index remains in a large sideways range of 1,273-1,716 points.</li><li>The short-term trend continues to decline, with the index seeking a major support level, with a pattern of lower highs and lower lows for the eighth consecutive day.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points (25/10-day EMA).In the medium term, the index remains in a large sideways range of 1,273-1,716 points.The short-term trend continues to decline, with the index seeking a major support level, with a pattern of lower highs and lower lows for the eighth consecutive day.

BoJ Meeting; US Earnings From Apple and Amazon

<ul><li>KTB has been added to the portfolio at the bottom of the rankings, given the expected performance growth driven by the positive impact of government budget disbursements.</li><li>Large cap stocks in the portfolio faced profit-taking pressure.</li><li>In addition, VGI's share price dropped 17.9% in a single day, dragging the portfolio's return down by 0.1% (vs. -0.04% for the SET).</li></ul>

KTB has been added to the portfolio at the bottom of the rankings, given the expected performance growth driven by the positive impact of government budget disbursements.Large cap stocks in the portfolio faced profit-taking pressure.In addition, VGI's share price dropped 17.9% in a single day, dragging the portfolio's return down by 0.1% (vs. -0.04% for the SET).

Krungthai Xspring SET100 Tactical Picks - September 26, 2024 (Eng.)

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points (25-day EMA).</li><li>TISCO reported a net profit of Bt1,733mn, lower than projection of the Bloomberg consensus and down 3.3% YoY and 2.6% QoQ due to the slowdown in non-interest income and higher funding costs.</li><li>We recommend stocks with positive news: SAPPE, ICHI, and TKN.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points (25-day EMA).TISCO reported a net profit of Bt1,733mn, lower than projection of the Bloomberg consensus and down 3.3% YoY and 2.6% QoQ due to the slowdown in non-interest income and higher funding costs.We recommend stocks with positive news: SAPPE, ICHI, and TKN.

South Korea

KTBnetwork Co. Ltd. provides venture capital services. The Company specializes in private equity, corporate restructurings, mergers, acquisitions, divestitures, and cross-border transactions. KTBnetwork serves clients worldwide.

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KTB Network (298870 KS)

Krungthai Xspring SET100 TACTICAL PICKS - November 15, 2024 (Eng.)

We add CBG to the portfolio, supported by a projected two-year EPS CAGR of 12%. Conversely, we suggest divesting KTB, BLA, and TLI, as they no...

Krungthai XSpring

Krungthai Xspring SET100 Tactical Picks - November 8, 2024 (Eng.)

KTB has been added to the portfolio to benefit from the acceleration of government projects and its strong asset quality. KTX's SET100 Tactical...

Krungthai XSpring

BoJ Meeting; US Earnings From Apple and Amazon

Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points...

Krungthai XSpring

Krungthai Xspring SET100 Tactical Picks - September 26, 2024 (Eng.)

KTB has been added to the portfolio at the bottom of the rankings, given the expected performance growth driven by the positive impact of...

Krungthai XSpring

1Q24E Corporate Earnings

Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points...

Krungthai XSpring

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