Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Thematic (Sector/Industry)

<ul>
<li>Indonesia's status as an emerging market is up for review due to various market anomalies, including a small free float, which rattled the market. </li>
<li>While active flows are quite sizeable, the real issue came from the passive flows, as there is no way to navigate around this. </li>
<li>Indonesia's prospect hinges on 1) the decision to increase free float to meet MSCI requirements and 2) whether the tycoons are willing to sell their stakes to raise free float. </li>
</ul>


Indonesia's status as an emerging market is up for review due to various market anomalies, including a small free float, which rattled the market. 
While active flows are quite sizeable, the real issue came from the passive flows, as there is no way to navigate around this. 
Indonesia's prospect hinges on 1) the decision to increase free float to meet MSCI requirements and 2) whether the tycoons are willing to sell their stakes to raise free float. 


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.

Technical Analysis

<ul><li>President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.</li><li>The index also faced added pressure from the MSCI rebalancing, fund outflows (with foreign investors selling for nine consecutive days) and political uncertainties.</li><li>We recommend selective speculation while expecting the index to show limited downside or move sideways in the near term.</li></ul>

President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.The index also faced added pressure from the MSCI rebalancing, fund outflows (with foreign investors selling for nine consecutive days) and political uncertainties.We recommend selective speculation while expecting the index to show limited downside or move sideways in the near term.

<ul><li>Asian bourses surged, with the Tokyo market gaining the most, but the SET was hindered by political uncertainties amid the MSCI rebalancing and brief speculation on 2Q24 earnings.</li><li>The index was volatile within a narrow range, maintaining a sideways pattern, with a positive price trend as it remained above 1,292 points.</li><li>The index is tending to move sideways, but we believe it will eventually adjust upward; we thus recommend selling on strength, buying on weakness.</li></ul>

Asian bourses surged, with the Tokyo market gaining the most, but the SET was hindered by political uncertainties amid the MSCI rebalancing and brief speculation on 2Q24 earnings.The index was volatile within a narrow range, maintaining a sideways pattern, with a positive price trend as it remained above 1,292 points.The index is tending to move sideways, but we believe it will eventually adjust upward; we thus recommend selling on strength, buying on weakness.

Recommendation: Sell on Strength, Buy on Weakness

<ul><li>Asian bourses declined amid market concerns about the political situation, which affected investor confidence, alongside the MSCI rebalancing, which led large cap stocks to weaken.</li><li>Foreign investors continued to sell for the sixth consecutive day, taking the SET below the 1,350-point level.</li><li>We recommend holding cash unless the index is able to return to stay above 1,360 points or there is heavy buying volume.</li></ul>

Asian bourses declined amid market concerns about the political situation, which affected investor confidence, alongside the MSCI rebalancing, which led large cap stocks to weaken.Foreign investors continued to sell for the sixth consecutive day, taking the SET below the 1,350-point level.We recommend holding cash unless the index is able to return to stay above 1,360 points or there is heavy buying volume.

<ul><li>The SET faced selling pressure stemming from the MSCI rebalancing, the 4Q23 earnings results, and PTT posting the XD sign, causing the index to move in negative territory and drop below 1,380 points.</li><li>This creates risk of falling further to the previous low at 1,352 points amid increasing concerns about fund outflows.</li><li>We recommend wait & see until the index can stand above 1,380 points, with the focus on small to medium cap stocks.</li></ul>

The SET faced selling pressure stemming from the MSCI rebalancing, the 4Q23 earnings results, and PTT posting the XD sign, causing the index to move in negative territory and drop below 1,380 points.This creates risk of falling further to the previous low at 1,352 points amid increasing concerns about fund outflows.We recommend wait & see until the index can stand above 1,380 points, with the focus on small to medium cap stocks.

United States

MSCI Inc. provides investment decision support tools to investment institutions worldwide. The Company produces indices and risk and return portfolio analytics for use in managing investment portfolios.

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MSCI Inc (MSCI US)

Indo Downgrade: Run Away or Buy?

Indonesia's emerging market status under review due to market anomalies, a focus on increasing free float, and tycoons selling stakes to raise...

Henry Soediarko

Recommendation: Selective Speculation

President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower. The index also faced...

Krungthai XSpring

Recommendation: Sell on Strength, Buy on Weakness

Asian bourses surged, with the Tokyo market gaining the most, but the SET was hindered by political uncertainties amid the MSCI rebalancing and...

Krungthai XSpring

Recommendation: Hold Cash

Asian bourses declined amid market concerns about the political situation, which affected investor confidence, alongside the MSCI rebalancing,...

Krungthai XSpring

Recommendation: Wait & See

The SET faced selling pressure stemming from the MSCI rebalancing, the 4Q23 earnings results, and PTT posting the XD sign, causing the index to...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Indo Downgrade: Run Away or Buy?

​Indonesia's emerging market status under review due to market anomalies, a focus on increasing free float, and tycoons selling stakes to raise...

Henry Soediarko

Recommendation: Selective Speculation

President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower. The index also faced...

Krungthai XSpring

Recommendation: Sell on Strength, Buy on Weakness

Asian bourses surged, with the Tokyo market gaining the most, but the SET was hindered by political uncertainties amid the MSCI rebalancing and...

Krungthai XSpring

Recommendation: Hold Cash

Asian bourses declined amid market concerns about the political situation, which affected investor confidence, alongside the MSCI rebalancing,...

Krungthai XSpring

Recommendation: Wait & See

The SET faced selling pressure stemming from the MSCI rebalancing, the 4Q23 earnings results, and PTT posting the XD sign, causing the index to...

Krungthai XSpring

Indonesia's emerging market status under review due to market anomalies, a focus on increasing free float, and tycoons selling stakes to raise...