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 SET and Asian bourses declined due to concerns over the trade war, the impact of the MSCI Rebalancing, and weaker-than-expected 4Q24 earnings.</li><li>The index plunged to a new low of 1,186.36 points, pressured by blue-chip stocks, before recovering to stay above the 1,200-point mark in the afternoon session.</li><li>However, it still dropped 3.41% from the previous week.</li></ul>

The SET and Asian bourses declined due to concerns over the trade war, the impact of the MSCI Rebalancing, and weaker-than-expected 4Q24 earnings.The index plunged to a new low of 1,186.36 points, pressured by blue-chip stocks, before recovering to stay above the 1,200-point mark in the afternoon session.However, it still dropped 3.41% from the previous week.

<ul><li>Asian bourses mostly declined as concerns over US tariffs continued to pressure markets.</li><li>The SET had a brief rebound, supported by hospital and banking stocks, before plunging sharply due to a lack of new catalysts and weaker-than-expected 4Q24 earnings.</li><li>Large- cap stocks, including ADVANC, CPALL, GULF, PTTEP, and SCC, led the decline.</li></ul>

Asian bourses mostly declined as concerns over US tariffs continued to pressure markets.The SET had a brief rebound, supported by hospital and banking stocks, before plunging sharply due to a lack of new catalysts and weaker-than-expected 4Q24 earnings.Large- cap stocks, including ADVANC, CPALL, GULF, PTTEP, and SCC, led the decline.

CEO, A. Stotz Investment Research

Dr. Andrew Stotz, CFA

Quantamental Investing to beat Benchmarks

A. Stotz Investment Research

We pick stocks. We construct portfolios. All our effort is focused on how to better pick stocks and construct portfolios. We serve fund management companies, family offices, and high net worth individuals.

<ul>
<li>We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology</li>
<li>Portfolio changes: Seven stocks remain, seven new join the fray</li>
<li>Since inception, it has gained 126% versus the SET 100 Index’s return of 34%</li>
</ul>


We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
Portfolio changes: Seven stocks remain, seven new join the fray
Since inception, it has gained 126% versus the SET 100 Index’s return of 34%


The Stocks to Own in Thailand – Vol. 47

<ul><li>The latest Global Fund Manager Survey by Bank of America polled 179 global fund managers with a total NAV of USD503bn.</li><li>The survey, which took place between November 1-7, includes 22% of responses gathered after the US election results were announced — reflecting partial recognition of the outcome, with Trump being elected US president and the Republican Party likely to have control of both the House of Representatives and the Senate.</li><li>The survey reveals significant shifts in asset allocations in response to these developments. The shift is driven by the US economy showing stronger signs of a "no landing" scenario, while the global downward interest rate cycle appears less pronounced than previously expected. </li></ul>

The latest Global Fund Manager Survey by Bank of America polled 179 global fund managers with a total NAV of USD503bn.The survey, which took place between November 1-7, includes 22% of responses gathered after the US election results were announced — reflecting partial recognition of the outcome, with Trump being elected US president and the Republican Party likely to have control of both the House of Representatives and the Senate.The survey reveals significant shifts in asset allocations in response to these developments. The shift is driven by the US economy showing stronger signs of a "no landing" scenario, while the global downward interest rate cycle appears less pronounced than previously expected. 

FMS Outlook Following Trump's Victory as US President - November 19, 2024

<ul><li>KTX expects the better-than-expected 3Q24 GDP growth report, along with the NESDC's upward revision of 2024E GDP growth to 2.6% (from 2.5%), to provide only short-term positive momentum.</li><li>However, the 2025E GDP growth outlook, projected at 2.8% (range: 2.3-3.3%), is seen as a negative guidance compared to the consensus estimate of 3.0%.</li><li>This reflects downside risks from global economic uncertainties, particularly in international trade, which is expected to be negatively impacted by Donald Trump's tariff hike policies. </li></ul>

KTX expects the better-than-expected 3Q24 GDP growth report, along with the NESDC's upward revision of 2024E GDP growth to 2.6% (from 2.5%), to provide only short-term positive momentum.However, the 2025E GDP growth outlook, projected at 2.8% (range: 2.3-3.3%), is seen as a negative guidance compared to the consensus estimate of 3.0%.This reflects downside risks from global economic uncertainties, particularly in international trade, which is expected to be negatively impacted by Donald Trump's tariff hike policies. 

Economic Update: 3Q24 GDP Growth - Upbeat 3Q24 GDP Growth

Thailand

WHA Corporation is a leading Thai company engaged in logistics, industrial development, utilities and power, digital services, and mobility businesses. It develops and manages industrial estates, ready-built factories and warehouses, and provides comprehensive solutions including water and wastewater management, and power generation. The company was founded in 2003 and is headquartered in Samut Prakan, Thailand.

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WHA Corporation (WHA TB)

Technical Analysis MARCH 3, 2025

The SET and Asian bourses declined due to concerns over the trade war, the impact of the MSCI Rebalancing, and weaker-than-expected 4Q24 earnings.

Krungthai XSpring

Technical Analysis - FEBRUARY 28, 2025

The SET had a brief rebound, supported by hospital and banking stocks, before plunging sharply due to a lack of new catalysts and weaker-than...

Krungthai XSpring

The Stocks to Own in Thailand – Vol. 47

We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology. Portfolio changes: Seven stocks remain, seven new...

A. Stotz Investment Research

FMS Outlook Following Trump's Victory as US President - November 19, 2024

The survey, which took place between November 1-7, includes 22% of responses gathered after the US election results were announced — reflecting...

Krungthai XSpring

Economic Update: 3Q24 GDP Growth - Upbeat 3Q24 GDP Growth

KTX expects the better-than-expected 3Q24 GDP growth report, along with the NESDC's upward revision of 2024E GDP growth to 2.6% (from 2.5%), to...

Krungthai XSpring

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