Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Feb 27th. We estimate that they had an aggregated short interest worth USD3.5bn.</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, SCB X, Krung Thai Bank, Bangchak, PTT Oil and Retail, Krung Thai Bank, Scb X, Bangchak.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Feb 27th. We estimate that they had an aggregated short interest worth USD3.5bn.
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, SCB X, Krung Thai Bank, Bangchak, PTT Oil and Retail, Krung Thai Bank, Scb X, Bangchak.


Thailand Short Interest Weekly (Feb 27th): Intouch, SCB X, Krung Thai Bank, Bangchak

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Feb 20th. We estimate that they had an aggregated short interest worth USD3.2bn.</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, Bangkok Dusit, SCG Packaging, Carabao, TISCO Financial, Bangkok Dusit.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Feb 20th. We estimate that they had an aggregated short interest worth USD3.2bn.
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, Bangkok Dusit, SCG Packaging, Carabao, TISCO Financial, Bangkok Dusit.


Thailand Short Interest Weekly (Feb 20th): Intouch, Bangkok Dusit, SCG Packaging, Carabao

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

Thai Airways International / Index Rebalance

<ul>
<li>The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).</li>
<li>In March 2026, the index will be rebalanced and Delta is likely to be capped. In June 2026, we expect two index changes.</li>
<li>In this insight, we have provided a breakdown of our flow expectations for March 2026 and Leaderboard rankings for potential ADDs/DELs in June 2026.</li>
</ul>


The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
In March 2026, the index will be rebalanced and Delta is likely to be capped. In June 2026, we expect two index changes.
In this insight, we have provided a breakdown of our flow expectations for March 2026 and Leaderboard rankings for potential ADDs/DELs in June 2026.


Quiddity Leaderboard SET50 Jun26: Thai Airways Close to Addition; Delta Safe from Deletion

<ul>
<li>The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).</li>
<li>In this insight, we present our latest capping flow expectations for the March 2026 index rebal event.</li>
<li>Separately, we have also shown our expectations for index changes in the next index review in June 2026.</li>
</ul>


The SET50 index tracks the performance of the top 50 largest and most liquid names listed on the Stock Exchange of Thailand (SET).
In this insight, we present our latest capping flow expectations for the March 2026 index rebal event.
Separately, we have also shown our expectations for index changes in the next index review in June 2026.


Quiddity Leaderboard SET50 Jun26: Delta Capping in Mar26; One Index Change Likely in Jun26

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 26th. 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, PTT GlobalChem, TMBThanachart Bank, Bumrungrad Hospital, Airports of Thailand, Airports Of Thailand, TMBThanachart Bank, Bumrungrad Hospital, Ptt Globalchem.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Dec 26th. 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, PTT GlobalChem, TMBThanachart Bank, Bumrungrad Hospital, Airports of Thailand, Airports Of Thailand, TMBThanachart Bank, Bumrungrad Hospital, Ptt Globalchem.


Thailand Short Interest Weekly (Dec 26th): Intouch, PTT GlobalChem, TMBThanachart Bank

Thailand

Thai Union Group Public Company Limited is a multinational seafood processing and exporting company, recognized as one of the world's largest producers of shelf-stable tuna products. The company offers a diverse portfolio of frozen, canned, and value-added seafood, including tuna, shrimp, sardines, mackerel, and salmon, along with pet food products, under various global brands such as Chicken of the Sea and John West. Thai Union Group is headquartered in Samut Sakhon, Thailand, and was founded in 1977.

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Thai Union Group (TU TB)

Thailand Short Interest Weekly (Feb 27th): Intouch, SCB X, Krung Thai Bank, Bangchak

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch, SCB X, Krung Thai Bank, Bangchak, PTT...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Feb 20th): Intouch, Bangkok Dusit, SCG Packaging, Carabao

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch, Bangkok Dusit, SCG Packaging, Carabao,...

Ke Yan, CFA, FRM

Quiddity Leaderboard SET50 Jun26: Thai Airways Close to Addition; Delta Safe from Deletion

The expected ADDs/DELs have 1x-4x ADV to trade. Thai Airways International (THAI TB) has the highest expected impact (+3.9x ADV) and the largest...

Janaghan Jeyakumar, CFA

Quiddity Leaderboard SET50 Jun26: Delta Capping in Mar26; One Index Change Likely in Jun26

There are multiple potential DELs close to the border. If they underperform other names sharply, more index changes could be triggered in June 2026.

Janaghan Jeyakumar, CFA

Thailand Short Interest Weekly (Dec 26th): Intouch, PTT GlobalChem, TMBThanachart Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), PTT GlobalChem (PTTGC TB),...

Ke Yan, CFA, FRM

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52-week Range

Market Cap (USDm)

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