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.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

Thailand Consumer discretionary / Thematic (Sector/Industry)

<ul><li>Auto production in March 2024 continued to slow down YoY for the eighth consecutive month, dragging overall production in 1Q24 down by 18% YoY.</li><li>This will act as a negative catalyst for the 1Q24E earnings outlooks of auto parts makers.</li><li>The sluggish near-term outlook has caused the auto sector to underperform the market YTD, resulting in limited downside risks in terms of the tactical view.</li></ul>

Auto production in March 2024 continued to slow down YoY for the eighth consecutive month, dragging overall production in 1Q24 down by 18% YoY.This will act as a negative catalyst for the 1Q24E earnings outlooks of auto parts makers.The sluggish near-term outlook has caused the auto sector to underperform the market YTD, resulting in limited downside risks in terms of the tactical view.

Automotive - Auto Production Fell 18% YoY in 1Q24