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.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,445/1,460 points and the support at 1,423/1,417 points.</li><li>However, we recommend gradually selling on the rise to mitigate risk, particularly if the Fed does not signal an interest rate cut as anticipated by the market.</li><li>In view of the ongoing strength of the US economy, we anticipate that the Fed will cut the fed funds rate by an additional 25 bps for the remainder of 2024E.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,445/1,460 points and the support at 1,423/1,417 points.However, we recommend gradually selling on the rise to mitigate risk, particularly if the Fed does not signal an interest rate cut as anticipated by the market.In view of the ongoing strength of the US economy, we anticipate that the Fed will cut the fed funds rate by an additional 25 bps for the remainder of 2024E.

Global TMT Analyst, Ex-PM, 30 years experience

Neil Campling

Thematic (Sector/Industry)

<ul>
<li>Apple iPhone 16 pre-orders weak and Questions on Apple Intelligence remain</li>
<li>Big software investor days. Expect AI to feature big on hype, but what to expect from TAM to ARR to products?</li>
<li>Semis: Samsung challenges, Intel relief but pressures remain, TSM momentum, this time with ByteDance </li>
</ul>


Apple iPhone 16 pre-orders weak and Questions on Apple Intelligence remain
Big software investor days. Expect AI to feature big on hype, but what to expect from TAM to ARR to products?
Semis: Samsung challenges, Intel relief but pressures remain, TSM momentum, this time with ByteDance 


TMT Daily:Apple, TikTok, PINS, Semis (TSM, Samsung, Intel), Software (EA, CRM, CRWD, WDAY, HUBS),EVs

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>International advertising market (global ad market ex-China, same below unless otherwise specified) still has ample room for further digital transformation, benchmarking to rather advanced state in China’s market.</li><li>The pandemic accelerated the digital transformation towards online and mobile advertising globally.</li><li>According to eMarketer, spending in international ad market reached US$809bn in 2023, with that for digital ad reaching 66% of total at US$533bn (vs. pre-pandemic level of 47% in 2019). </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>

International advertising market (global ad market ex-China, same below unless otherwise specified) still has ample room for further digital transformation, benchmarking to rather advanced state in China’s market.The pandemic accelerated the digital transformation towards online and mobile advertising globally.According to eMarketer, spending in international ad market reached US$809bn in 2023, with that for digital ad reaching 66% of total at US$533bn (vs. pre-pandemic level of 47% in 2019). 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.

US Digital Advertising – AI-Empowered Digital Transformation

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,370/1,366 points and the resistance at 1,380/1,393 points (10/25-day EMA), after the reversal pattern signal yesterday (rebounding in a V-shaped pattern right after having hit a new low in more than three years at 1,354.73 points the day before).</li><li>The SET is set to reveal the new stocks included in the SET50/100 Index calculations for the period spanning January 1 to June 30, 2024.</li><li>The consensus expects the manufacturing and services PMIs in Japan and the EU to improve, while that in the US is expected to see a slight decline, signaling positive trends for global economies.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,370/1,366 points and the resistance at 1,380/1,393 points (10/25-day EMA), after the reversal pattern signal yesterday (rebounding in a V-shaped pattern right after having hit a new low in more than three years at 1,354.73 points the day before).The SET is set to reveal the new stocks included in the SET50/100 Index calculations for the period spanning January 1 to June 30, 2024.The consensus expects the manufacturing and services PMIs in Japan and the EU to improve, while that in the US is expected to see a slight decline, signaling positive trends for global economies.

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

<h2>Headline Development</h2><p>Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.</p>

Headline DevelopmentHertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.

United States

Pinterest, Inc. operates and maintains social networking site. The Company provides online venue for personal photos, ideas, oddities, decorations, places to visit, recipes, and other items. Pinterest serves customers worldwide.

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

Pinterest (PINS US)

US FOMC Meeting

Technically, the SET Index is expected to move sideways up, with the resistance at 1,445/1,460 points and the support at 1,423/1,417...

Krungthai XSpring

TMT Daily:Apple, TikTok, PINS, Semis (TSM, Samsung, Intel), Software (EA, CRM, CRWD, WDAY, HUBS),EVs

Apple iPhone 16 pre-orders disappointing. Big software investor days AI hype and product expectations. Challenges for Samsung, Intel relief short...

Neil Campling

US Digital Advertising – AI-Empowered Digital Transformation

International advertising market (global ad market ex-China, same below unless otherwise specified) still has ample room for further digital...

CMB International

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways, with the support at 1,370/1,366 points and the resistance at 1,380/1,393 points...

Krungthai XSpring

Weekly Innovation Review (WIRE) #55

Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go...

Granite Bay Capital

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

US FOMC Meeting

Technically, the SET Index is expected to move sideways up, with the resistance at 1,445/1,460 points and the support at 1,423/1,417...

Krungthai XSpring

TMT Daily:Apple, TikTok, PINS, Semis (TSM, Samsung, Intel), Software (EA, CRM, CRWD, WDAY, HUBS),EVs

​Apple iPhone 16 pre-orders disappointing. Big software investor days AI hype and product expectations. Challenges for Samsung, Intel relief short...

Neil Campling

US Digital Advertising – AI-Empowered Digital Transformation

International advertising market (global ad market ex-China, same below unless otherwise specified) still has ample room for further digital...

CMB International

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways, with the support at 1,370/1,366 points and the resistance at 1,380/1,393 points...

Krungthai XSpring

Weekly Innovation Review (WIRE) #55

Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go...

Granite Bay Capital

Apple iPhone 16 pre-orders disappointing. Big software investor days AI hype and product expectations. Challenges for Samsung, Intel relief short...