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 August 2024 continued to slow down YoY for the 13th consecutive month, pressured by weak domestic demand, with domestic car sales having reached a three-year low amid export challenges.</li><li>We maintain an Underweight rating on the automotive sector due to weak recovery signals, which may pose downside risk to our 2024E auto production forecast.</li><li>Meanwhile, stock valuations remain tight. Signs of economic recovery and easing pressure on NPLs could present potential entry points for the sector.</li></ul>

Auto production in August 2024 continued to slow down YoY for the 13th consecutive month, pressured by weak domestic demand, with domestic car sales having reached a three-year low amid export challenges.We maintain an Underweight rating on the automotive sector due to weak recovery signals, which may pose downside risk to our 2024E auto production forecast.Meanwhile, stock valuations remain tight. Signs of economic recovery and easing pressure on NPLs could present potential entry points for the sector.

Industry Update: Automotive - SEPTEMBER 25, 2024