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

Equity Bottom-Up

<ul><li>We expect the MPC to continue raising the policy interest rate in 2023E to the terminal rate of 2.0%, which is where the real rate will turn positive at +0.1%, based on a CPI of 1.9% as of the end of 4Q23E (Bloomberg consensus).</li><li>The 2023E Thai economy is projected to grow at its full potential at 4.5% YoY (vs. the current projection of 3.7% YoY) on the back of the expected recovery of tourism thanks to China’s sooner-than-anticipated reopening.</li><li>Meanwhile, inflation has continued to slow down. We continue to recommend reopening plays whose earnings are likely to recover in line with the Thai economic outlook. </li></ul>

We expect the MPC to continue raising the policy interest rate in 2023E to the terminal rate of 2.0%, which is where the real rate will turn positive at +0.1%, based on a CPI of 1.9% as of the end of 4Q23E (Bloomberg consensus).The 2023E Thai economy is projected to grow at its full potential at 4.5% YoY (vs. the current projection of 3.7% YoY) on the back of the expected recovery of tourism thanks to China’s sooner-than-anticipated reopening.Meanwhile, inflation has continued to slow down. We continue to recommend reopening plays whose earnings are likely to recover in line with the Thai economic outlook. 

MPC - MPC Raised the Policy Interest Rate by 0.25% to 1.50%

Muangthai Capital

MPC - MPC Raised the Policy Interest Rate by 0.25% to 1.50%