Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Nov 21st. We estimate that they had an aggregated short interest worth USD2.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Intouch, Gulf Energy Development, Minor International, Advanced Info Service, CP AXTRA NVDR, Minor International, Advanced Info Service, Gulf Energy Development, Cp Axtra Nvdr.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Nov 21st. We estimate that they had an aggregated short interest worth USD2.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Intouch, Gulf Energy Development, Minor International, Advanced Info Service, CP AXTRA NVDR, Minor International, Advanced Info Service, Gulf Energy Development, Cp Axtra Nvdr.


Thailand Short Interest Weekly (Nov 21st): Intouch, Gulf Energy Development, Minor International

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.

Thematic (Sector/Industry)

<ul><li>The SET came under pressure and retreated in line with global markets, weighed down by concerns that the Fed may delay rate cuts at next month’s meeting.</li><li>Although the uptrend has ended and the index is weakening, the broader trend remains sideways.</li><li>We therefore recommend gradually buying near the support level.</li></ul>

The SET came under pressure and retreated in line with global markets, weighed down by concerns that the Fed may delay rate cuts at next month’s meeting.Although the uptrend has ended and the index is weakening, the broader trend remains sideways.We therefore recommend gradually buying near the support level.

Krungthai XSpring Technical Eng. November 17, 2025

<ul><li>The SET Index is expected to trade sideways with a downward bias today, drifting softly with the support at 1,263/1,250 points and the resistance at 1,287/1,300 points.</li><li>We expect lingering doubts over Fed rate cuts and the stronger dollar to keep global and Thai markets volatile and temporarily slow foreign fund inflows.</li><li>China’s economic indicators for 4Q25 show continued signs of weakness.</li></ul>

The SET Index is expected to trade sideways with a downward bias today, drifting softly with the support at 1,263/1,250 points and the resistance at 1,287/1,300 points.We expect lingering doubts over Fed rate cuts and the stronger dollar to keep global and Thai markets volatile and temporarily slow foreign fund inflows.China’s economic indicators for 4Q25 show continued signs of weakness.

Krungthai XSpring Zoom Eng. November 17, 2025

<ul><li>Most Asian bourses rebounded after the US government shutdown was resolved.</li><li>The index has been moving within a narrow sideways range and is approaching the BB Bottom line.</li><li>We therefore recommend buying near the support level and waiting for a clearer rebound accompanied by stronger trading volume.</li></ul>

Most Asian bourses rebounded after the US government shutdown was resolved.The index has been moving within a narrow sideways range and is approaching the BB Bottom line.We therefore recommend buying near the support level and waiting for a clearer rebound accompanied by stronger trading volume.

Krungthai XSpring Technical Eng. November 14, 2025

<ul><li>Asian bourses closed mixed despite gains in the US market, while the SET fluctuated within a narrow range before slipping back to the 1,300-point level.</li><li>The recent decline in the index is viewed as profit-taking amid light trading volume and the absence of heavy selling pressure on large-cap stocks that could dampen sentiment.</li><li>We expect the index to edge down only slightly, as selling pressure remains limited and buying interest in large-cap stocks persists.</li></ul>

Asian bourses closed mixed despite gains in the US market, while the SET fluctuated within a narrow range before slipping back to the 1,300-point level.The recent decline in the index is viewed as profit-taking amid light trading volume and the absence of heavy selling pressure on large-cap stocks that could dampen sentiment.We expect the index to edge down only slightly, as selling pressure remains limited and buying interest in large-cap stocks persists.

Krungthai XSpring Technical Eng. November 12, 2025

Thailand

SCG Packaging Public Company Limited provides packaging services and solutions. The Company offers fiber-based packaging, performance and polymer packaging, and food service products, as well as designing and printing services. SCG Packaging serves customers worldwide.

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SCG Packaging (SCGP TB)

Thailand Short Interest Weekly (Nov 21st): Intouch, Gulf Energy Development, Minor International

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), Gulf Energy Development...

Ke Yan, CFA, FRM

Krungthai XSpring Technical Eng. November 17, 2025

The SET came under pressure and retreated in line with global markets, weighed down by concerns that the Fed may delay rate cuts at next month’s...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 17, 2025

The SET Index is expected to trade sideways with a downward bias today, drifting softly with the support at 1,263/1,250 points and the resistance...

Krungthai XSpring

Krungthai XSpring Technical Eng. November 14, 2025

Most Asian bourses rebounded after the US government shutdown was resolved.The index has been moving within a narrow sideways range and is...

Krungthai XSpring

Krungthai XSpring Technical Eng. November 12, 2025

Asian bourses closed mixed despite gains in the US market, while the SET fluctuated within a narrow range before slipping back to the 1,300-point...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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