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 Financials / Thematic (Sector/Industry)

<ul><li>Despite the contraction of exports in June at -0.3% YoY, we still believe that Thai international trade will meet the 2024E forecasts of the NESDC (i.e., a trade surplus of +USD10bn, export growth of +2%, and import growth of +4.6%), supported by the growth of the digital economy, which boosts demand for related products.</li><li>However, risk factors include drought reducing agricultural products in the market, ongoing geopolitical conflicts, higher freight rates in the second half of the year, slow recovery of some trading partner economies, and elections in many countries causing uncertainty, leading investors to delay investments while awaiting new government policies.</li><li>We recommend export-related stocks that are showing good signs of recovery: the rubber sector (NER and STA), the processed chicken sector (CPF, GFPT and BTG), the pet food sector (ITC and AAI), and the electronics sector (HANA).</li></ul>

Despite the contraction of exports in June at -0.3% YoY, we still believe that Thai international trade will meet the 2024E forecasts of the NESDC (i.e., a trade surplus of +USD10bn, export growth of +2%, and import growth of +4.6%), supported by the growth of the digital economy, which boosts demand for related products.However, risk factors include drought reducing agricultural products in the market, ongoing geopolitical conflicts, higher freight rates in the second half of the year, slow recovery of some trading partner economies, and elections in many countries causing uncertainty, leading investors to delay investments while awaiting new government policies.We recommend export-related stocks that are showing good signs of recovery: the rubber sector (NER and STA), the processed chicken sector (CPF, GFPT and BTG), the pet food sector (ITC and AAI), and the electronics sector (HANA).

Northeast Rubber Public Company Limited (NER TB)

Economic Update – Exports & Imports - Jul 30, 2024