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, with the support at 1,334 and 1,330 points and the resistance at 1,350 and 1,355 points.</li><li>In the medium term, the index remains in a large downtrend pattern, forming a rounding top within the range of 1,273-1,506 points.</li><li>Similarly, the short-term trend is a zig-zag down pattern, with the most recent high at 1,410 points on December 27, and the index currently seeking a bottom, potentially at 1,330 or 1,300 points.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,334 and 1,330 points and the resistance at 1,350 and 1,355 points.In the medium term, the index remains in a large downtrend pattern, forming a rounding top within the range of 1,273-1,506 points.Similarly, the short-term trend is a zig-zag down pattern, with the most recent high at 1,410 points on December 27, and the index currently seeking a bottom, potentially at 1,330 or 1,300 points.

Keep an Eye on the Earnings of US and Thai Listed Companies

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

<ul><li>We turn more positive on Netflix’s enhanced monetization, expansion of TAM (with AVOD and paid sharing) and margin improvement.</li><li>Netflix delivered an eye-catching 4Q23 with upbeat subs and OPM, with ad-supported subs +70% QoQ.</li><li>We expect its strong momentum to continue, backed by: 1) deeper AVOD penetration, with the basic plan to be eliminated in Canada and the UK in 2Q24E; 2) paid sharing to tap into a larger household base; and 3) content to pick up. Mgmt raised its FY24E OPM to 24% from 22%-23%, on efficient content spending and stronger rev. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We turn more positive on Netflix’s enhanced monetization, expansion of TAM (with AVOD and paid sharing) and margin improvement.Netflix delivered an eye-catching 4Q23 with upbeat subs and OPM, with ad-supported subs +70% QoQ.We expect its strong momentum to continue, backed by: 1) deeper AVOD penetration, with the basic plan to be eliminated in Canada and the UK in 2Q24E; 2) paid sharing to tap into a larger household base; and 3) content to pick up. Mgmt raised its FY24E OPM to 24% from 22%-23%, on efficient content spending and stronger rev. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Netflix (NFLX US) - Bullish on Margin Expansion and Subs Upside

Bangkok Expressway and Metro / Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,540/1,545 points (75-day EMA) and the support at 1,519/1,515 points (10-day and 25-day EMA).</li><li>KTX has a negative outlook on the SET this week due to three key domestic factors.</li><li>We recommend contrarian investing; investors may sell to take profit first before waiting to buy back when the SET Index weakens to below 1,482 points (12M MRP at 4.15%).</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,540/1,545 points (75-day EMA) and the support at 1,519/1,515 points (10-day and 25-day EMA).KTX has a negative outlook on the SET this week due to three key domestic factors.We recommend contrarian investing; investors may sell to take profit first before waiting to buy back when the SET Index weakens to below 1,482 points (12M MRP at 4.15%).

United States

Netflix Inc. is an Internet subscription service for watching tv shows and movies. Subscribers can instantly watch unlimited TV shows and movies streamed over the Internet to their TVs, computers and mobile devices and in the United States, subscribers can receive standard definition DVDs and Blu-ray Discs delivered to their homes.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Netflix Inc (NFLX US)

Keep an Eye on the Earnings of US and Thai Listed Companies

Technically, the SET Index is expected to move sideways, with the support at 1,334 and 1,330 points and the resistance at 1,350 and 1,355...

Krungthai XSpring

Netflix (NFLX US) - Bullish on Margin Expansion and Subs Upside

We turn more positive on Netflix’s enhanced monetization, expansion of TAM (with AVOD and paid sharing) and margin improvement.

CMB International

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways, with the resistance at 1,540/1,545 points (75-day EMA) and the support at 1,519/1,515...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)