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 emergence of virtual banks in Thailand still faces challenges in proving their success, as traditional banks have already invested heavily in IT and developed applications with features increasingly comparable to those of virtual banks.</li><li>The three virtual banks expected to launch in 2026E are likely to remain small, with a market share of just 1.1–1.2% of total loans and deposits in the system.</li><li>Ultimately, whether or not virtual banks materialize, the Thai banking sector is already entering the digital and AI era.</li></ul>

The emergence of virtual banks in Thailand still faces challenges in proving their success, as traditional banks have already invested heavily in IT and developed applications with features increasingly comparable to those of virtual banks.The three virtual banks expected to launch in 2026E are likely to remain small, with a market share of just 1.1–1.2% of total loans and deposits in the system.Ultimately, whether or not virtual banks materialize, the Thai banking sector is already entering the digital and AI era.

Banking: Virtual Banks and the Thai Banking Landscape

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 Aug 29th. 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, Home Product Center, PTT Oil and Retail, True, BTS, True, Bts, Home Product Center, PTT Oil&amp;Retail.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 29th. 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, Home Product Center, PTT Oil and Retail, True, BTS, True, Bts, Home Product Center, PTT Oil&amp;Retail.


Thailand Short Interest Weekly (Aug 29th): Intouch, Home Product Center, PTT Oil and Retail, True

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 22nd. We estimate that they had an aggregated short interest worth USD2.4bn.</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, True, Siri Prime Office Property Fd, CP ALL, Bangkok Dusit, CP ALL, Bangkok Dusit, True.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Aug 22nd. We estimate that they had an aggregated short interest worth USD2.4bn.
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, True, Siri Prime Office Property Fd, CP ALL, Bangkok Dusit, CP ALL, Bangkok Dusit, True.


Thailand Short Interest Weekly (Aug 22nd): Intouch, True, Siri Prime Office Property Fd, CP ALL

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jul 25th. We estimate that they had an aggregated short interest worth USD2.2bn.</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, CP ALL, Kasikornbank, Airports of Thailand, Srisawad, Airports Of Thailand, Kasikornbank, CP ALL.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jul 25th. We estimate that they had an aggregated short interest worth USD2.2bn.
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, CP ALL, Kasikornbank, Airports of Thailand, Srisawad, Airports Of Thailand, Kasikornbank, CP ALL.


Thailand Short Interest Weekly (Jul 25th): Intouch, CP ALL, Kasikornbank, Airports of Thailand

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Jul 18th. We estimate that they had an aggregated short interest worth USD2.2bn.</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 Airports of Thailand, Intouch, Gulf Energy Development, Home Product Center, Advanced Info Service, Airports Of Thailand, Gulf Energy Development, Advanced Info Service.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Jul 18th. We estimate that they had an aggregated short interest worth USD2.2bn.
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 Airports of Thailand, Intouch, Gulf Energy Development, Home Product Center, Advanced Info Service, Airports Of Thailand, Gulf Energy Development, Advanced Info Service.


Thailand Short Interest Weekly (Jul 18th): Airports of Thailand, Intouch, Gulf Energy Development

Thailand

Tisco Financial Group Pcl is a bank holding company.  The Company's banking subsidiary offers working capital, project, term, automobile and home loans; custodian services; securities brokerage; mutual funds; and private banking; and advises on equity and debt capital markets, privatizations, debt restructuring, project finance, and mergers and acquisitions.

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

Tisco Financial Group (TISCO TB)

Banking: Virtual Banks and the Thai Banking Landscape

The three virtual banks expected to launch in 2026E are likely to remain small, with a market share of just 1.1–1.2% of total loans and deposits in...

Krungthai XSpring

Thailand Short Interest Weekly (Aug 29th): Intouch, Home Product Center, PTT Oil and Retail, True

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), Home Product Center (HMPRO...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Aug 22nd): Intouch, True, Siri Prime Office Property Fd, CP ALL

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch, True, Siri Prime Office Property Fd, CP...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Jul 25th): Intouch, CP ALL, Kasikornbank, Airports of Thailand

We analyzed SET short interest report for the past week and highlighted short interest changes in Intouch (INTUCH TB), CP ALL (CPALL TB),...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Jul 18th): Airports of Thailand, Intouch, Gulf Energy Development

We analyzed SET short interest report for the past week and highlighted short interest changes in Airports of Thailand (AOT TB), Intouch (INTUCH...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)