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>ADVANC has re-entered the KTX Tactical Picks portfolio due to its outstanding 1H25 performance and the potential for continued growth in 2H25E.</li><li>The accelerated returns of financial institution stocks were offset by selling pressure in SCC, resulting in an average return increase of 0.70%, close to that of the SET (+0.87%).</li></ul>

ADVANC has re-entered the KTX Tactical Picks portfolio due to its outstanding 1H25 performance and the potential for continued growth in 2H25E.The accelerated returns of financial institution stocks were offset by selling pressure in SCC, resulting in an average return increase of 0.70%, close to that of the SET (+0.87%).

<ul><li>SCC has been added to the portfolio after the market turned more positive on the 2025 earnings outlook, with earnings per share revised up by around 15% following the recent analyst meeting.</li><li>All stocks in the portfolio rebounded strongly relative to the SET, boosting the average return by 2.55% (SET: +1.76%).</li><li>KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

SCC has been added to the portfolio after the market turned more positive on the 2025 earnings outlook, with earnings per share revised up by around 15% following the recent analyst meeting.All stocks in the portfolio rebounded strongly relative to the SET, boosting the average return by 2.55% (SET: +1.76%).KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.

<ul><li>The SET Index is expected to trend upward today.</li><li>Foreign investors were net buyers of Bt4.49bn yesterday – the highest since May 8 – and have accumulated net purchases of Bt11.13bn month-to-date in July.</li><li>We remain positive on the improving trend of Chinese arrivals, with the potential for China to reclaim the top tourist source spot from Malaysia within 1-2 weeks.</li></ul>

The SET Index is expected to trend upward today.Foreign investors were net buyers of Bt4.49bn yesterday – the highest since May 8 – and have accumulated net purchases of Bt11.13bn month-to-date in July.We remain positive on the improving trend of Chinese arrivals, with the potential for China to reclaim the top tourist source spot from Malaysia within 1-2 weeks.

The US Nears Trade Agreement With Europe; Thailand Prepares Next Round of Economic Stimulus

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.</li><li>Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.</li><li>Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.

Krungthai XSpring Zoom Eng. January 27, 2025

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points.</li><li>US: The December retail sales report is expected to show growth of +0.6% MoM and +4% YoY (vs. +0.7% MoM and +3.8% YoY in November).</li><li>US stock markets posted the largest single-day gain in two months, boosted by lower-than-expected core inflation.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points.US: The December retail sales report is expected to show growth of +0.6% MoM and +4% YoY (vs. +0.7% MoM and +3.8% YoY in November).US stock markets posted the largest single-day gain in two months, boosted by lower-than-expected core inflation.

US Retail Sales and 4Q24 Earnings Results

Malaysia

SCC Holdings Bhd. is an investment holding company. The Company's subsidiaries are involved in the sales, marketing, and distribution of non-antibiotic animal health products and the sales, marketing, and distribution of food service equipment.

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Scc Holdings (SCHB MK)

KTX Tactical Picks

ADVANC has re-entered the KTX Tactical Picks portfolio due to its outstanding 1H25 performance and the potential for continued growth in...

Krungthai XSpring

KTX Tactical Picks

SCC has been added to the portfolio after the market turned more positive on the 2025 earnings outlook, with earnings per share revised up by...

Krungthai XSpring

The US Nears Trade Agreement With Europe; Thailand Prepares Next Round of Economic Stimulus

The SET Index is expected to trend upward today. Foreign investors were net buyers of Bt4.49bn yesterday – the highest since May 8 – and have...

Krungthai XSpring

Krungthai XSpring Zoom Eng. January 27, 2025

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370...

Krungthai XSpring

US Retail Sales and 4Q24 Earnings Results

Technically, the SET Index is expected to move sideways up, with the resistance at 1,360/1,365 points and the support at 1,344/1,340 points. US:...

Krungthai XSpring

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