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>Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.</li><li>In the short term, the market is still awaiting confirmation of the peak of Wave 1 (of the 5-wave uptrend in the Elliott Wave theory) before entering a correction phase.</li><li>Wave 2 typically retraces around 50-61.8% of Wave 1’s length.</li></ul>

Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.In the short term, the market is still awaiting confirmation of the peak of Wave 1 (of the 5-wave uptrend in the Elliott Wave theory) before entering a correction phase.Wave 2 typically retraces around 50-61.8% of Wave 1’s length.

KTX Zoom: BoE Expected to Cut Interest Rates Further - MAY 8, 2025

<ul><li>The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.</li><li>Large-cap stocks took the lead, and the index showed a steady upward pattern.</li><li>The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. </li></ul>

The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.Large-cap stocks took the lead, and the index showed a steady upward pattern.The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. 

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 May 2nd. We estimate that they had an aggregated short interest worth USD1.9bn.</li>
<li>We tabulate league table 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 Delta Electronics, Scc, Krung Thai Bank, Gulf Energy Development, Tisco Financial, True, Cp Foods, Central Retail.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of May 2nd. We estimate that they had an aggregated short interest worth USD1.9bn.
We tabulate league table 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 Delta Electronics, Scc, Krung Thai Bank, Gulf Energy Development, Tisco Financial, True, Cp Foods, Central Retail.


Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

<ul><li>The SET rallied for the fourth consecutive day, supported by optimism over US-China trade negotiations, enthusiasm surrounding the Thai ESGX fund, and notably, the MPC’s decision to cut the policy rate by 0.25%.</li><li>This rate cut accelerated the index’s gains, particularly in the afternoon session.</li><li>Key stocks such as DELTA, ADVANC, SCC, GULF, and major banking shares recorded strong gains, while fund inflows helped sustain solid upward momentum.</li></ul>

The SET rallied for the fourth consecutive day, supported by optimism over US-China trade negotiations, enthusiasm surrounding the Thai ESGX fund, and notably, the MPC’s decision to cut the policy rate by 0.25%.This rate cut accelerated the index’s gains, particularly in the afternoon session.Key stocks such as DELTA, ADVANC, SCC, GULF, and major banking shares recorded strong gains, while fund inflows helped sustain solid upward momentum.

<ul><li>The SET initially traded within a narrow range as investors awaited the outcome of the MPC meeting and remained hopeful about progress in US-China trade negotiations.</li><li>However, in the afternoon session, the index advanced sharply, supported by strong buying in DELTA, ADVANC, BH, energy, and banking stocks, reinforcing a continued upward trend.</li><li>Foreign investors also returned as net buyers.</li></ul>

The SET initially traded within a narrow range as investors awaited the outcome of the MPC meeting and remained hopeful about progress in US-China trade negotiations.However, in the afternoon session, the index advanced sharply, supported by strong buying in DELTA, ADVANC, BH, energy, and banking stocks, reinforcing a continued upward trend.Foreign investors also returned as net buyers.

Thailand

True Corporation PCL is an integrated telecommunications provider. The Company offers a wide range of voice, video, and data services, including dial-up and broadband Internet services, pay television, fixed-line phone, online games, and mobile phone services.

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True Corp Pcl (TRUE TB)

KTX Zoom: BoE Expected to Cut Interest Rates Further - MAY 8, 2025

Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.

Krungthai XSpring

Technical Analysis - MAY 8, 2025

The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected.

Krungthai XSpring

Thailand Short Interest Weekly (May 2nd): Delta Electronics, Scc, Krung Thai Bank

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics, Scc, Krung Thai Bank, Gulf...

Ke Yan, CFA, FRM

Technical Analysis - MAY 2, 2025

Key stocks such as DELTA, ADVANC, SCC, GULF, and major banking shares recorded strong gains, while fund inflows helped sustain solid upward momentum.

Krungthai XSpring

Technical Analysis - APRIL 30, 2025

The SET initially traded within a narrow range as investors awaited the outcome of the MPC meeting and remained hopeful about progress in US-China...

Krungthai XSpring

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