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>Although the SET moved in a narrow range as the market had only the 1Q24 earnings results providing support, it was able to close up for the fourth day in a row.</li><li>Foreign investors turned to buy, and the improvement of BH, DELTA and ADVANC bolstered the index’s continued rise. However, the trading atmosphere was quiet with light volume.</li><li>A V-shaped recovery did not materialize after the index moved sideways; however, it managed to climb higher, setting the stage to test the 1/2 Fibonacci resistance at 1,368 points. If the index breaches this level, it is likely to continue to rebound toward the 1,400-point mark.</li></ul>

Although the SET moved in a narrow range as the market had only the 1Q24 earnings results providing support, it was able to close up for the fourth day in a row.Foreign investors turned to buy, and the improvement of BH, DELTA and ADVANC bolstered the index’s continued rise. However, the trading atmosphere was quiet with light volume.A V-shaped recovery did not materialize after the index moved sideways; however, it managed to climb higher, setting the stage to test the 1/2 Fibonacci resistance at 1,368 points. If the index breaches this level, it is likely to continue to rebound toward the 1,400-point mark.

<ul><li>The SET fluctuated in a narrow range and closed up for a third day, but it was weaker than other Asian bourses, which surged sharply, with tech stocks taking the lead.</li><li>Furthermore, volume decreased, large cap stocks showed mixed movement, and foreign investors turned to sell, which indicated that the index would face selling pressure.</li><li>The index approached the 1/2 Fibonacci resistance at 1,369 points before retreating, revealing the upward adjustment to be hindered by selling pressure. </li></ul>

The SET fluctuated in a narrow range and closed up for a third day, but it was weaker than other Asian bourses, which surged sharply, with tech stocks taking the lead.Furthermore, volume decreased, large cap stocks showed mixed movement, and foreign investors turned to sell, which indicated that the index would face selling pressure.The index approached the 1/2 Fibonacci resistance at 1,369 points before retreating, revealing the upward adjustment to be hindered by selling pressure. 

<ul><li>Although the baht depreciated, the SET rose for a second consecutive day, bolstered by two days of foreign investor buying and robust 1Q24 earnings.</li><li>This fueled increased buying momentum, particularly in energy, commerce, food, tourism, petrol and finance stocks.</li><li>Consequently, the index hit 1,362.53 points before retreating from profit taking.</li></ul>

Although the baht depreciated, the SET rose for a second consecutive day, bolstered by two days of foreign investor buying and robust 1Q24 earnings.This fueled increased buying momentum, particularly in energy, commerce, food, tourism, petrol and finance stocks.Consequently, the index hit 1,362.53 points before retreating from profit taking.

<ul><li>Asian bourses, including the SET, soared against rising US bond yields after tensions in the Middle East subsided.</li><li>A buying force quickly targeted large caps, such as banking, energy, finance, transportation, food and commerce stocks.</li><li>Meanwhile, foreign investors’ turn to buying helped the index move in positive territory all day, but volume remained light.</li></ul>

Asian bourses, including the SET, soared against rising US bond yields after tensions in the Middle East subsided.A buying force quickly targeted large caps, such as banking, energy, finance, transportation, food and commerce stocks.Meanwhile, foreign investors’ turn to buying helped the index move in positive territory all day, but volume remained light.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

<ul><li>SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in Singapore.</li><li>The 5 new SDRs are Advanced Info Service (SGX SDR stock code: TADD), Delta Electronics (TDED), Gulf Energy Development (TGED), Kasikornbank (TKKD) and Siam Cement Group (TSCD).</li><li>In total, the 8 Thai SDRs cover more than 40% of the SET50 benchmark and each of the 8 SDRs represent a different sector.</li></ul>

SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in Singapore.The 5 new SDRs are Advanced Info Service (SGX SDR stock code: TADD), Delta Electronics (TDED), Gulf Energy Development (TGED), Kasikornbank (TKKD) and Siam Cement Group (TSCD).In total, the 8 Thai SDRs cover more than 40% of the SET50 benchmark and each of the 8 SDRs represent a different sector.

Expanded suite of 8 Thai SDRs tracking over 40% of Thailand’s SET50 Index

Thailand

Advanced Info Service Public Company Limited is granted a 25-year concession expiring the year 2015 by the Telephone Organization of Thailand to provide cellular phone services.  The Company provides analog mobile phone services through the Nordic Mobile Telephone (NMT900) network, and digital phone services through the Global Systems for Mobile Communication (GSM) network.

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Advanced Info Service (ADVANC TB)

Technical Analysis - APRIL 26, 2024

Although the SET moved in a narrow range as the market had only the 1Q24 earnings results providing support, it was able to close up for the fourth...

Krungthai XSpring

Technical Analysis - APRIL 25, 2024

The SET fluctuated in a narrow range and closed up for a third day, but it was weaker than other Asian bourses, which surged sharply, with tech...

Krungthai XSpring

Technical Analysis - APRIL 24, 2024

Although the baht depreciated, the SET rose for a second consecutive day, bolstered by two days of foreign investor buying and robust 1Q24 earnings.

Krungthai XSpring

Technical Analysis - April 23, 2024

Asian bourses, including the SET, soared against rising US bond yields after tensions in the Middle East subsided. A buying force quickly targeted...

Krungthai XSpring

Expanded suite of 8 Thai SDRs tracking over 40% of Thailand’s SET50 Index

SGX welcomes 5 new Thai SDRs which allow investors to trade Thai blue-chip companies in the same way they would trade stocks listed in...

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)