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>The SET Index is expected to move sideways up, with the resistance at 1,639/1,642 points and the support at 1,613 points (25/200-day EMA) /1,605 points.</li><li>Global equity markets are being pressured by concerns that the Fed will expedite rate hikes to tackle inflation; US bond yields have continued to increase, which is negative to growth stocks.</li><li>Investors expect the Fed to hike the fed funds rate by 0.75% in the upcoming FOMC meeting in September.</li></ul>

The SET Index is expected to move sideways up, with the resistance at 1,639/1,642 points and the support at 1,613 points (25/200-day EMA) /1,605 points.Global equity markets are being pressured by concerns that the Fed will expedite rate hikes to tackle inflation; US bond yields have continued to increase, which is negative to growth stocks.Investors expect the Fed to hike the fed funds rate by 0.75% in the upcoming FOMC meeting in September.

<ul><li>The SET Index is expected to move sideways down, with the resistance at 1,642/1,650 points and the support at 1,624/1,612 points.</li><li>We recommend trading buy on ASIAN, TTB and COM7.</li><li>Technically, the index may weaken to 1,600 points if it is unable to surpass the previous resistance at 1,642 points within one or two days; the loss-stopping point should be at 1,612 points (200-day EMA).</li></ul>

The SET Index is expected to move sideways down, with the resistance at 1,642/1,650 points and the support at 1,624/1,612 points.We recommend trading buy on ASIAN, TTB and COM7.Technically, the index may weaken to 1,600 points if it is unable to surpass the previous resistance at 1,642 points within one or two days; the loss-stopping point should be at 1,612 points (200-day EMA).

<ul><li>The SET Index is expected to move sideways, with the resistance at 1,650/1,660 points and the support at 1,630/1,617 points.</li><li>We recommend trading buy on BH, AS and IVL.</li><li>Yesterday, foreign investors continued to be net buyers in the SET at Bt6,141.06mn, raising the cumulative buying in August to Bt41,177.63mn and the YTD buying to Bt158,528.42mn.</li></ul>

The SET Index is expected to move sideways, with the resistance at 1,650/1,660 points and the support at 1,630/1,617 points.We recommend trading buy on BH, AS and IVL.Yesterday, foreign investors continued to be net buyers in the SET at Bt6,141.06mn, raising the cumulative buying in August to Bt41,177.63mn and the YTD buying to Bt158,528.42mn.

Quantitative Analysis

<ul><li>TCAP dropped out of the rankings, with a holding period return of -2.2%.</li><li>The rebound in the share prices of ADVANC and PR9 helped support the average total return of the portfolio, leading to a decrease of around 0.58%, outperforming the -1.82% of the SET.</li><li>KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

TCAP dropped out of the rankings, with a holding period return of -2.2%.The rebound in the share prices of ADVANC and PR9 helped support the average total return of the portfolio, leading to a decrease of around 0.58%, outperforming the -1.82% of the SET.KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.

Equity Bottom-Up

Ten Cap Alpha Plus Complex ETF / Equity Bottom-Up

<ul><li>For the KTX Tactical Picks portfolio, we recommend investing in TCAP for tactical reasons.</li><li>Most stocks in the portfolio declined in line with the sluggish market conditions, but to a lesser extent than the SET (-0.69%), resulting in the portfolio's average total return decreasing by only 0.19%.</li><li>KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

For the KTX Tactical Picks portfolio, we recommend investing in TCAP for tactical reasons.Most stocks in the portfolio declined in line with the sluggish market conditions, but to a lesser extent than the SET (-0.69%), resulting in the portfolio's average total return decreasing by only 0.19%.KTX's Tactical Picks portfolio is constructed within SET100 Index constituents.

Australia

Ten Cap Alpha Plus Complex ETF is an exchange-traded fund incorporated in Australia. The Fund mainly tracks S&P/ASX 200 Accumulation Index. The Fund aims to achieve positive returns in excess of the Benchmark, before fees and expenses, over the long term by taking both Long Positions and Short Positions in selected Australian shares.

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Ten Cap Alpha Plus Complex ETF (TCAP AU)

Market Outlook

The SET Index is expected to move sideways up, with the resistance at 1,639/1,642 points and the support at 1,613 points (25/200-day EMA) /1,605...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways down, with the resistance at 1,642/1,650 points and the support at 1,624/1,612 points. We recommend...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways, with the resistance at 1,650/1,660 points and the support at 1,630/1,617 points. We recommend trading...

Krungthai XSpring

KTX Tactical Picks

TCAP dropped out of the rankings, with a holding period return of -2.2%. The rebound in the share prices of ADVANC and PR9 helped support the...

Krungthai XSpring

KTX Tactical Picks

For the KTX Tactical Picks portfolio, we recommend investing in TCAP for tactical reasons. Most stocks in the portfolio declined in line with the...

Krungthai XSpring

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52-week Range

Market Cap (USDm)

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