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 1,500/1,510 points and the support at 1,488/1,480 points.</li><li>In the medium term, the market remains in a broad sideways range between 1,273 and 1,716 points, currently trending upward to test resistance levels.</li><li>As for the investment strategy, we continue to recommend trading buy on dips.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,500/1,510 points and the support at 1,488/1,480 points.In the medium term, the market remains in a broad sideways range between 1,273 and 1,716 points, currently trending upward to test resistance levels.As for the investment strategy, we continue to recommend trading buy on dips.

TH Earnings Results & China's 3Q24E GDP Growth

<ul><li>We have closed positions in BLA and MTC as they have fallen out of our rankings, with losses of -3.7% and -0.6%, respectively.</li><li>We have instead invested in BH, anticipating a good 3Q24E earnings performance given the high season, and KTB, which stands to benefit significantly from government disbursements.</li><li>KTX's SET100 Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

We have closed positions in BLA and MTC as they have fallen out of our rankings, with losses of -3.7% and -0.6%, respectively.We have instead invested in BH, anticipating a good 3Q24E earnings performance given the high season, and KTB, which stands to benefit significantly from government disbursements.KTX's SET100 Tactical Picks portfolio is constructed within SET100 Index constituents.

<ul><li>We have added MTC to the portfolio, as its asset quality is expected to have shown continued improvement in 3Q24E.</li><li>Moreover, the company is likely to benefit from the potential reductions in the policy interest rate.</li><li>On the contrary, CBG has been removed from the portfolio after it failed to meet our ranking criteria; the stock offered a return of +1.1% since our buy recommendation.</li></ul>

We have added MTC to the portfolio, as its asset quality is expected to have shown continued improvement in 3Q24E.Moreover, the company is likely to benefit from the potential reductions in the policy interest rate.On the contrary, CBG has been removed from the portfolio after it failed to meet our ranking criteria; the stock offered a return of +1.1% since our buy recommendation.

Krungthai Xspring SET100 Tactical Picks - October 11, 2024 (Eng.)

<ul><li>Technically, the SET Index is expected to move in a sideways-up pattern, with the resistance at 1,460/1,464 points and the support at 1,448/1,440 points.</li><li>This is expected to create positive sentiment for the first trading day of the Chinese stock market today after the long holiday.</li><li>Investment strategy: We recommend GLOBAL, HMPRO and BCP.</li></ul>

Technically, the SET Index is expected to move in a sideways-up pattern, with the resistance at 1,460/1,464 points and the support at 1,448/1,440 points.This is expected to create positive sentiment for the first trading day of the Chinese stock market today after the long holiday.Investment strategy: We recommend GLOBAL, HMPRO and BCP.

Monitor the Direction of the Chinese Stock Market After the Long Holiday

<ul><li>MTC has been added to the portfolio in response to the recovery in its asset quality, resulting in a decline in credit costs amid cautious lending.</li><li>In addition, the company's recent credit rating of A-(tha) assigned by Fitch, compared to the BBB+ rating from TRIS, may positively impact its funding costs and profitability.</li></ul>

MTC has been added to the portfolio in response to the recovery in its asset quality, resulting in a decline in credit costs amid cautious lending.In addition, the company's recent credit rating of A-(tha) assigned by Fitch, compared to the BBB+ rating from TRIS, may positively impact its funding costs and profitability.

China

MMTEC, Inc. provides online trading services. The Company offers Internet-based technology services and solutions in securities market transactions and settlements. MMTEC serves investment advisors, proprietary trading groups, and brokerage firms worldwide.

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MMTEC Inc (MTC US)

TH Earnings Results & China's 3Q24E GDP Growth

Technically, the SET Index is expected to move sideways up, with the resistance at 1,500/1,510 points and the support at 1,488/1,480 points. In...

Krungthai XSpring

SET100 Tactical Picks

We have closed positions in BLA and MTC as they have fallen out of our rankings, with losses of -3.7% and -0.6%, respectively. We have instead...

Krungthai XSpring

Krungthai Xspring SET100 Tactical Picks - October 11, 2024 (Eng.)

We have added MTC to the portfolio, as its asset quality is expected to have shown continued improvement in 3Q24E. Moreover, the company is likely...

Krungthai XSpring

Monitor the Direction of the Chinese Stock Market After the Long Holiday

Technically, the SET Index is expected to move in a sideways-up pattern, with the resistance at 1,460/1,464 points and the support at 1,448/1,440...

Krungthai XSpring

SET100 Tactical Picks

MTC has been added to the portfolio in response to the recovery in its asset quality, resulting in a decline in credit costs amid cautious...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)