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 weaken, with the support at 1,292/1,285 points and resistance at 1,308/1,316 points.</li><li>In the medium term, the index remains in a downtrend, forming a rounding top pattern, with downside risk extending to 1,255 points after hitting a new 4-year and 3-month low at 1,270.87 points on Monday.</li><li>Investment strategy: Sell on rallies and wait for a new technical buy signal.</li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,292/1,285 points and resistance at 1,308/1,316 points.In the medium term, the index remains in a downtrend, forming a rounding top pattern, with downside risk extending to 1,255 points after hitting a new 4-year and 3-month low at 1,270.87 points on Monday.Investment strategy: Sell on rallies and wait for a new technical buy signal.

Global Services Reports for January, US Private Sector Employment, and Thai Inflation

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,274/1,265 points and the resistance at 1,284/1,290 points.</li><li>The Constitutional Court will rule on the dissolution of the Move Forward Party.</li><li>China is forecast to report a trade surplus of USD99bn (vs. June at USD99.05bn), as exports and imports are expected to grow by 9.6% YoY and 3.3% YoY (vs. the 21-month high at +8.6% YoY, and the four-month low at -2.3% YoY in June, respectively).</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,274/1,265 points and the resistance at 1,284/1,290 points.The Constitutional Court will rule on the dissolution of the Move Forward Party.China is forecast to report a trade surplus of USD99bn (vs. June at USD99.05bn), as exports and imports are expected to grow by 9.6% YoY and 3.3% YoY (vs. the 21-month high at +8.6% YoY, and the four-month low at -2.3% YoY in June, respectively).

Ruling on Dissolution of the Move Forward Party

Equity Bottom-Up

Central Pacific Financial Corp / Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to weaken, with the support levels at 1,177/1,171 points (10-day EMA) and the resistance at 1,197/1,204 points.</li><li>As such, the medium- to long-term view remains bullish, and any weakness is seen as a buying opportunity — we recommend investing in selective stocks.</li><li>Today's FOMC meeting is thus expected to maintain the current rate (in line with the consensus).</li></ul>

Technically, the SET Index is expected to weaken, with the support levels at 1,177/1,171 points (10-day EMA) and the resistance at 1,197/1,204 points.As such, the medium- to long-term view remains bullish, and any weakness is seen as a buying opportunity — we recommend investing in selective stocks.Today's FOMC meeting is thus expected to maintain the current rate (in line with the consensus).

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>Disney delivered solid 2QFY24 results, with inline revenue (+1.2% YoY) and upbeat profit (+30% YoY, beating consensus by 8%).</li><li>The upbeat margin was mainly attributable to DTC’s breakeven (ahead of guidance).</li><li>Mgmt also raised its FY24E EPS growth target to 25% YoY (vs. prior at least 20% YoY). </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>

Disney delivered solid 2QFY24 results, with inline revenue (+1.2% YoY) and upbeat profit (+30% YoY, beating consensus by 8%).The upbeat margin was mainly attributable to DTC’s breakeven (ahead of guidance).Mgmt also raised its FY24E EPS growth target to 25% YoY (vs. prior at least 20% YoY). 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.

Walt Disney Co (DIS US) - Looking Beyond 3Q OI Volatility

<ul><li>Technically, we expect the SET Index to move sideways up, with the resistance at 1,376/1,382 points (50-day EMA/75-day EMA) and the support at 1,360/1,355 points.</li><li>This week, concerns are likely to arise regarding the risk of negative economic growth (potentially leading to a technical recession) following the release of Thailand's 1Q24 GDP growth report in the subsequent week.</li><li>This week's investment strategy: We recommend speculating on stocks that benefit from the depreciation of the baht, which has weakened against the USD by as much as 7.5% YTD since the beginning of the year.</li></ul>

Technically, we expect the SET Index to move sideways up, with the resistance at 1,376/1,382 points (50-day EMA/75-day EMA) and the support at 1,360/1,355 points.This week, concerns are likely to arise regarding the risk of negative economic growth (potentially leading to a technical recession) following the release of Thailand's 1Q24 GDP growth report in the subsequent week.This week's investment strategy: We recommend speculating on stocks that benefit from the depreciation of the baht, which has weakened against the USD by as much as 7.5% YTD since the beginning of the year.

Weekly Strategy: Recommend “Trading Buy”

United States

The Walt Disney Company is an entertainment company that conducts operations in media networks, studio entertainment, theme parks and resorts, consumer products, and interactive media. The Company produces motion pictures, television programs, and musical recordings, as well as books and magazines.

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

The Walt Disney Co (DIS US)

Global Services Reports for January, US Private Sector Employment, and Thai Inflation

Technically, the SET Index is expected to weaken, with the support at 1,292/1,285 points and resistance at 1,308/1,316 points. In the medium term,...

Krungthai XSpring

Ruling on Dissolution of the Move Forward Party

Technically, the SET Index is expected to move sideways down, with the support at 1,274/1,265 points and the resistance at 1,284/1,290 points. The...

Krungthai XSpring

US FOMC Meeting

Technically, the SET Index is expected to weaken, with the support levels at 1,177/1,171 points (10-day EMA) and the resistance at 1,197/1,204...

Krungthai XSpring

Walt Disney Co (DIS US) - Looking Beyond 3Q OI Volatility

Disney delivered solid 2QFY24 results, with inline revenue (+1.2% YoY) and upbeat profit (+30% YoY, beating consensus by 8%).

CMB International

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Global Services Reports for January, US Private Sector Employment, and Thai Inflation

Technically, the SET Index is expected to weaken, with the support at 1,292/1,285 points and resistance at 1,308/1,316 points. In the medium term,...

Krungthai XSpring

Ruling on Dissolution of the Move Forward Party

Technically, the SET Index is expected to move sideways down, with the support at 1,274/1,265 points and the resistance at 1,284/1,290 points. The...

Krungthai XSpring

US FOMC Meeting

Technically, the SET Index is expected to weaken, with the support levels at 1,177/1,171 points (10-day EMA) and the resistance at 1,197/1,204...

Krungthai XSpring

Walt Disney Co (DIS US) - Looking Beyond 3Q OI Volatility

Disney delivered solid 2QFY24 results, with inline revenue (+1.2% YoY) and upbeat profit (+30% YoY, beating consensus by 8%).

CMB International

Weekly Strategy: Recommend “Trading Buy”

Technically, we expect the SET Index to move sideways up, with the resistance at 1,376/1,382 points (50-day EMA/75-day EMA) and the support at...

Krungthai XSpring