Morning Brief

09 June 2015

Todays highlights

Daily Market Performance

SET (08/06/2015):

Market Turnover:

1,508.28 (+0.06%)

Market Wrap-up

Bt28,643m

The SET Index closed almost flat yesterday, up 0.91 point (+0.06 %) at

Source: SET, KS

1,508.28, amid sluggish turnover of Bt28,642.86mn as investors looked ahead

to the MPC meeting on Wednesday. Positive sentiment in the Property and ICT
sectors was offset by drops in Bank and Petro stocks. Foreign investors were
net buyers of Bt53mn of stocks (Inst +Bt217mn, Prop +Bt289mn, Ret
Bt559mn). Key event today: EU 1Q GDP

Sector PER (x)

Yr to Dec

Agribusiness & Food

Commerce
Commercial
Construction Materials
Contractor
Electronics
Energy
Health Care
Home & Office Products
ICT
Industrial Estate
Petrochemical
Residential
Shipping
Tourism
Transportation
Utilities

13A

23.98
25.53
29.06
17.55
9.19
19.47
10.46
49.05
1.32
21.69
7.17
11.49
10.14
-5.48
27.70
41.11
15.73

14A

17.26
30.82
25.03
18.82
21.65
19.06
25.06
43.24
11.88
18.84
8.51
24.07
9.12
35.10
33.22
38.79
14.06

15E

14.47
27.68
22.70
16.09
29.89
16.64
12.79
36.68
10.40
18.70
7.43
14.69
9.57
43.73
22.71
24.25
15.85

16E

12.19
24.83
20.19
16.38
27.26
15.07
11.90
30.25
9.16
18.43
6.65
10.91
8.46
27.92
18.60
41.44
14.76

Strategy
Monthly Strategy (page 2) We believe the stock market is in a transition

period before we start to see economic figures improve. The bahts 3.89%
depreciation following a 2-time policy rate cut could spur exports, while the
speeding up of government spending should help consumption. Despite seeing
short-term risks from the Greek debt crisis, potential outflows following the
BOTs rate cuts and fears related to the looming U.S. rate hike, we think the
market downside is limited as investors are well aware of these issues and some
sectors have already retreated to reflect them. We recommend investors
Accumulate Buy.

Sector & Equities Recommendation

Energy Sector (Underweight) (page 3) We are still bearish on oil, but we

Source: Bloomberg, KS

Inside

Page

Fund Flows

Bond Trading

Top Ten Short Sale

ii

Thai NVDR Trading Data by Stock

ii

Daily Driver Stats (Market Summary)

iii

Daily Driver Stats (Commodity)

iv

Director Trade

Insider Trading

vi

Foreign Ownership - top ten gainers and losers

vi

Economic Calendar

vii

Company's Calendar

ix

feel more comfortable saying the oil price will not seek a new low. This means
that significant oil inventory losses are unlikely this year. Therefore, our stock
picks for the Energy sector are PTT (Outperform, TP of Bt492), TOP
(Outperform, TP of Bt64.9) and BCP (Outperform, TP of Bt40.0). In addition,
we are now also less bearish on PTTEP and in the process of reviewing our
recommendation.
TTA (Neutral) (page 4) We maintain our Neutral rating on TTA with an

unchanged 2015 fair value of Bt15.10.

Kasikorn Securities PCL

Research Department
Contact: 02-696-0031
Thai Stock Market
SET Index
Change
Turnover (Btm)

1,508.28

Trading by Investor Type

Investor Type SET
TFEX

0.91pt/0.06%
28,642.86

Foreign

PER (x)

20.44

PBV (x)

2.05

Retail

Div Yield (%)

2.90

Proprietary

09 June 2015

Institution

NVDR Net Buy/Sell

Top Buy

(Btm) (Contracts)
53
-2,949

Net

International Markets

Commodity Market

Top Sell

Net

DJIA

-82.91pt/-0.46%

Oil - Nymex (USD)

SCC

239

BBL

-312

S&P

-13.55pt/-0.65%

Gold - London (USD)

SCB

192

PTTEP

-140

58.14/bbl/-0.99USD
1,173.53/Oz/-0.71USD

NASDAX

-46.83pt/-0.92%

DXYO

95.3/-1.05%

KBANK

89

BEC

-41

CAC

-63.08pt/-1.28%

Bt/USD

33.82/0.23%

4,423

TOP

69

PTT

-40

FTSE

-14.56pt/-0.21%

USD/Euro

AOT

52

AJP-W1

-31

DAX

-132.23pt/-1.18%

217

-1,474

-559
289

10Y US treasury yld

1.11/-0.8%
2.38/-1.05%

Morning Brief

Morning Brief
Monthly Strategy - The dark before dawn
Sumek Chantrasuriyarat
(Sumek.c@kasikornsecurities.com)
Kitpon Pripisankit
(kitpon.p@kasikornsecurities.com)
Paniti Jittriphot
(Paniti.j@kasikornsecurities.com)
Pathompol Laowirayasak
(Pathompol.l@kasikornsecurities.com)
Auayporn Meesiln
(Auayporn.m@kasikornsecurities.com)

We believe the stock market is in a transition period before we start to see economic figures
improve. The bahts 3.89% depreciation following a 2-time policy rate cut could spur
exports, while the speeding up of government spending should help consumption. Despite
seeing short-term risks from the Greek debt crisis, potential outflows following the BOTs
rate cuts and fears related to the looming U.S. rate hike, we think the market downside is
limited as investors are well aware of these issues and some sectors have already retreated
to reflect them. We recommend investors Accumulate Buy.

Key highlights
Positive signals amid market earnings decline. The Thai stock markets earnings have been

under pressure and in a downtrend for more than 2 years. Despite the 8.67% downgrade in SET
earnings YTD and the lack of support from the economy, we see signs that some sectors such as
COMMERCE, CONMAT, HOTEL, ENERGY and PETRO are bottoming out. We also see slow growth
momentum in ETRON pointing to a peak after the sector was upgraded in contrast to most other
sectors, which were downgraded.
BANK and PROP stand on firm valuations. Despite BANK and PROP being hit by the deteriorating

economic conditions, there has been no significant change in their earnings momentum, and they
look interesting after their share prices dropped 9.8% and 2.6% YTD compared to SET Index, which
has gained 1.6% YTD. Moreover, we believe that the downside for both sectors should be limited
given that they are trading toward the low end of their long-term valuation ranges. BANK and PROP
are currently trading at 1.3x PBV, near the bottom of their 5-year historical range. For PROP, most of
the stocks are trading at 7-9x, which is an attractive level for investment.
No need for further rate cuts. Although there is room for the BOT to cut its policy rate one or two

more times, we think that it will hold rates at its next meeting on 10 June. Our rationale is based on
the following factors: 1) The BOT would like to see the full results of its recent cuts before acting
again; 2) it wants to show it is willing to compromise to the political side following a conflict of views
about the direction of interest rates after the previous 2 adjustments; 3) the BOT would like to keep
some bullets in reserve for any future uncertainty; and 4) it can still weaken the baht by holding the
rate steady while waiting for the U.S. rate hike; a shrinking of the gap between Thai and U.S. interest
rates should support the depreciation of the baht.
Still Overweight on strong external demand plays; Petro upgraded to Overweight from

Neutral. We are still focusing on sectors with strong external demand & cyclical upsides, while
identifying selective domestic plays to take advantage of the bottoming out of their business cycles.
We maintain our Overweight ratings on ICT, CONS, CONMAT, TOURISM and FIN. We also upgrade
PETRO to Overweight (from Neutral) due to a longer uptrend in the petrochemical cycle than we had
expected. Our top buys: SCC CK TOP ADVANC KTB PS CENTEL KCE CPALL PTT.

09 June 2015

Morning Brief

Morning Brief
Energy Sector - OPEC maintains quota as expected
Underweight

Jakapong Chawengsri
(Jakapong.c@kasikornsecurities.com)

What's going on?

OPEC decided to hold its production quota at 30.0m barrels/day at its latest official meeting on

Friday. This was in line with the markets expectations. The price of Brent oil rose 2.1%, or USD1.3,
to USD63.3 following the meeting.

Impact
The markets positive response to the cartels decision was due to the rejection of a proposal by some

OPEC members for further production increases. In addition, the current production quota is still
below actual output.
In our view, OPEC is searching for a price equilibrium that maximizes its revenues while protecting

market share on a long-term basis. The crude oil price is thus unlikely to decline to a new low as
OPEC now knows that an oil price below USD50 will restrain the growth of the US shale oil industry
and deter capital expenditures in E&P work across the globe. The cartel is seeking to identify the price
point at which drilling activities for shale oil would start again, which would prompt the cartel to
further boost output. Our belief is based on OPECs decision to increase the premium on its crude,
which implies that it has been comfortable during the downward trend in US drilling activities.
According to comments by many US shale oil company CEOs, the industry can survive at a Brent price

of USD60 a barrel and will regain its growth momentum at USD65-USD70. Up to 500 KBD of extra
output can be recovered at this price range. However, we believe that shale oil producers will continue
to surprise the global oil market with their flexibility, cost cutting ability and improved efficiency.
At a WTI price of USD58-USD60, the US rig count decreased marginally by 13 units to 646 units last

week. When the US rig count stops declining and starts to increase again, it will indicate that the oil
price is too high. Given this, it is difficult to see additional upward pressure on the oil price and we
expect the price will automatically soften in the next few months due to off-demand season.
The factors to keep an eye on that could lead to an oil price correction earlier than we expect are: i)

crude oil production from Iraq as the country plans to boost crude exports by about 0.8m barrels/day,
or 26%, to a record 3.75 million barrels a day next month; ii) Iran has also claimed the country would
double its oil exports (about 1.0m barrels/day) within six months once the sanctions are lifted; and
iii) speculators sitting on positive positions who may take profit for any reason, such as the
strengthening of the U.S. dollar or an unexpected increase in the US rig count number.

Recommendation
We are still bearish on oil, but we feel more comfortable saying the oil price will not seek a new low.

This means that significant oil inventory losses are unlikely this year. Therefore, our stock picks for
the Energy sector are PTT (Outperform, TP of Bt492), TOP (Outperform, TP of Bt64.9) and BCP
(Outperform, TP of Bt40.0). In addition, we are now also less bearish on PTTEP and in the process of
reviewing our recommendation.

09 June 2015

Morning Brief

Morning Brief
Thoresen Thai Agencies PCL - China trade data remains subdued,
weighing on BSI
(TTA TB, Bt13.20, Neutral, Fair price Bt15.10)

Pathompol Laowirayasak
(Pathompol.l@kasikornsecurities.com)

What's going on?

Chinas General Administration of Customs reported Chinese May-15 trade data yesterday.

Chinas exports declined 2.8% YoY, better than the median estimate of a Bloomberg survey of 4.4% YoY and up from April-15s figure of -6.4% YoY.
Chinas imports shrank 18.1% YoY, weaker than the Bloomberg survey estimate of -10.0% YoY
and the April-15 figure of -16.2% YoY.
Chinas total trade (imports+exports) in May-15 came in at USD322bn, down 9.3% YoY.

Impact
Chinese trade data is a key indicator of bulk shipping demand. YTD Chinese trade shrank 7.9% YoY

to its lowest level in 3 years, causing the BSI, TTAs freight rate benchmark, to retreat 25.9% over
the same period.
Looking closer at specific imported goods, which normally are transported by Supramax ships, coal,

mineral and iron ore shipments dropped 38.2%, 0.3% and 1.1%, respectively, in May-15. We are
concerned that this data may cap the BSIs upside in the short term.
However, we believe Chinas trade data and the BSI have already passed their bottoms for the year

as the first quarter is low season for shipping. Meanwhile, TTAs energy business should have
bottomed out as its key subsea vessels returned to normal operation after a 3-month maintenance in
1Q15.

Recommendation
We maintain our Neutral rating on TTA with an unchanged 2015 fair value of Bt15.10.

09 June 2015

Morning Brief

Morning Brief
Daily News
Economic & Industry News
PM backpedals on extended stay. Prime Minister Gen. Prayut Chan-o-cha yesterday backtracked

on his readiness to remain in power for another two years to complete his governments national
reform program due to the negative public sentiment over the last few days. (Nation)
Minimum wage could only rise: govt. The government yesterday said any change to the Bt300

daily minimum wage would see it increase, but suggested a more flexible wage policy could be
introduced in the future. (Nation)
Ministry mulls hiking excise tax on LPG in transport sector. The Energy Ministry has

considered raising the excise tax on liquefied petroleum gas (LPG) used in the transport industry as
part of the energy pricing reform approved by the National Energy Policy Council. (Nation)
Higher NPL cap rejected. A request by the Thai Bankers Association (TBA) to raise the cap for

bad-loan coverage under the portfolio guarantee scheme (PGS) of the state-owned Thai Credit
Guarantee Corporation (TCG) to 30% is too much, says Finance Minister Sommai Phasee. (Bangkok
Post)

09 June 2015

Morning Brief

Daily Stats
Fund Flows
Foreign net Buy/Sell in regional markets (USDmn)
04-Jun-15
Thailand

05-Jun-15

08-Jun-15

5 Days

30 Days

YTD

2014

-50.08

-23.18

1.56

-146.19

-35.26

-302.03

-1,091.32

Indonesia

-29.00

-29.41

-21.37

-119.21

-320.32

498.86

3,766.10

Philippine

-22.65

-14.05

-11.77

-119.80

-309.07

542.87

1,256.05

93.88

-74.99

0.00

-198.87

361.63

6,967.41

16,161.87

India
Taiwan

-407.22

-306.34

-273.18

-1,158.25

-623.96

7,457.19

13,190.34

S. Korea

360.65

79.27

-34.93

576.67

2,289.65

8,987.56

5,683.85

Vietnam

-1.18

-4.62

-2.63

-6.32

27.43

139.56

135.56

-55.61

-373.32

-342.31

-1,171.97

1,390.11

24,291.42

39,102.45

Total
Source : Bloomberg

Trading Activities
SET
Institutions
Foreign Investors
Local Investors
Proprietary Trading
Index Future

Buy
2,304

Sell

Net

2,087

5 Days

30 Days

217

5,045

7,188

YTD
29,447

2014
71,424

6,410

6,358

53

-4,932

-1,214

-10,112

-36,584

16,930

17,490

-559

1,248

3,174

-11,718

-38,421

2,709
Short

289
Net

2,998
Long

-1,360
5 Days

-9,148
30 Days

-7,617
YTD

3,582
2014

Institutions

18,281

19,755

-1,474

17,498

68,168

46,228

Foreign Investors

13,432

16,381

-2,949

-4,049

-63,636

-48,928

9,728

Local Investors

44,713

40,290

4,423

-13,449

-4,532

2,700

-33,851

Metal Futures
Institutions
Foreign Investors
Local Investors

Long

Short

Net

2,877

619

575

-910

81

430

-349

-3,233

2,227

2,497

-270

2,658

3,496

5 Days

30 Days

YTD

24,123

2014

-2,636

3,214

-1,990

-7,490

-3,058

2,900

10,126

-156

Bond Trading
Bond Trading
4-Jun-15

5 Days

30 Days

-924

19,534

57,743

-3,491

41

19,812

-873

-965

-278

9,463

21,630

20,786

90,454

9,689

21,625

23,371

-226

-2,586

95,086

90,078

Short term

57,958

Long term (TTM > 1Y)

37,128

Net Foreign
Short term
Long term (TTM > 1Y)
Net Asset Management
Short term
Long term (TTM > 1Y)
Total Outright Trading

5-Jun-15

-4,829

-4,364

-3,893
-936

8-Jun-15

YTD

2014

-21,876

207,033

69,931

-2,194

137,173

-12,188

-19,682

69,861

238,033

1,306,331

2,134,558

86,228

228,897

1,183,134

2,026,203

4,227

9,136

123,197

108,355

79,419

432,717

1,722,588

8,975,878

18,867,218

64,493

63,852

283,201

1,146,625

5,567,554

12,869,159

25,585

15,567

149,516

575,963

3,408,324

5,998,059

Source : Thai BMA

9 June 2015

Morning Brief

Daily Stats
Top Ten Short Sale
Acc % Short Sale Volume Comparing with Main Board
-1 Day

-1 Week

-1 Mont h

-3 Mont h

BJC

19.96

15.79

15.53

PT T

16.29

9.59

9.77

10.98
6.81

KBANK

9.76

8.59

7.67

6.32

DT AC
TICON

7.73
7.57

15.81
1.38

6.41
0.63

3.69
5.40

ESSO

6.49

2.37

1.80

1.25

TRUE
AOT

6.40
6.16

5.62
4.22

6.64
4.51

4.37
4.71

TUF

5.59

4.52

4.67

3.25

PSL

5.48

7.53

1.51

1.66

Source : SET Smart

Thai NVDR Trading Data by Stock

Top Net Buy (Btmn)
Stock

2-Jun-15

3-Jun-15

4-Jun-15

Top Net Sell (Btmn)

5-Jun-15

8-Jun-15

Stock

SCC

-187.42

237.99

-83.34

156.48

238.69

BBL

SCB

-116.35

41.13

-68.74

-35.66

191.61

PTTEP

31.77

19.97

184.13

444.32

89.11

TOP

-72.30

43.49

3.61

-5.67

AOT

118.65

85.35

-6.62

CK
TISCO

3.78
51.15

-0.80
11.70

TCAP
AJP

-12.23
1.07

SCCC

10.79

KBANK

2-Jun-15

3-Jun-15

4-Jun-15

5-Jun-15

8-Jun-15

515.00

132.87

-129.88

-479.84

-312.48

-197.17

-59.57

-39.50

-88.07

-139.86

BEC

-20.57

-16.18

1.58

-5.62

-40.57

69.19

PTT

-159.61

-37.81

-287.75

-14.04

-39.76

673.33

51.94

ADVANC

-146.84

-154.97

-19.20

92.82

-30.29

10.91
107.27

6.52
-14.87

42.05
36.23

TUF

6.56

35.97

12.60

13.70

-26.49

MK

-2.14

-1.71

10.24

-36.84

-24.05

0.96
-0.06

28.32
0.02

4.23
-4.33

34.20
28.31

JMART

-0.17

-0.07

-0.29

0.13

-23.58

TASCO

434.74

-109.26

-10.84

-37.23

-21.65

30.20

28.75

37.30

26.20

LH

33.44

18.35

87.84

-14.05

-20.90

UNIQ

-1.30

1.20

1.39

1.17

25.03

AP

-14.45

-6.91

4.89

-13.50

-15.55

KTB

-21.71

-62.78

10.47

-74.34

23.87

BTS

86.65

18.56

41.71

49.16

-14.54

CPN

-15.78

2.06

-0.97

42.88

22.14

HANA

2.31

10.10

-10.20

-8.23

-12.30

3.48

12.58

7.17

1.71

22.03

BLAND

-8.40

-1.98

1.96

-11.60

-11.36

EGCO
DELTA

-6.66

-5.10

-5.50

40.89

19.35

DTAC

15.57

51.66

-42.88

22.97

-11.07

PTTGC

20.05

114.43

22.08

503.42

18.09

MAJOR

21.91

0.06

-2.35

4.97

-10.94

JAS

73.59

200.04

-1.74

228.66

14.77

BH

-106.73

1.82

33.92

-1.18

-9.57

PTG

5.18

3.07

-1.54

-2.03

14.04

PS

-62.99

-44.73

-0.00

2.28

-9.01

-15.24

-27.73

-14.51

-12.92

13.16

STAR

0.09

-1.34

0.10

0.28

-7.52

-7.43437

32.23

114.39

12.29

13.07

GUNKUL

2.78

0.53

0.74

-2.65

-6.15

MINT
INTUCH
Source: SET

Source: SET

Net Buy/Sell 10 Days

NVDR Trading by Sector

Value (% of Mkt Cap.)

Top Buy

Value (Btmn)
Top Sell

SINGER

4.68%

PAE

-1.37%

W IIK

3.07%

SEAFCO

-1.31%

JAS

1.57%

MK

-1.17%

TASCO

1.35%

BTC

-0.82%

TISCO

0.94%

SPALI

-0.79%

MAJOR

0.74%

JMART

-0.71%

BTS

0.73%

SMPC

-0.70%

TW FP

0.62%

LOXLEY

-0.60%

TIPCO

0.59%

AIT

-0.56%

TRUBB

0.51%

NPP

-0.51%

LIT

0.50%

UPA

-0.45%

LH

0.41%

PRECHA

-0.39%

SMT

0.41%

CI

-0.38%

CW T

0.39%

STAR

-0.37%

CK

0.38%

PT

-0.37%

W ORK

0.37%

ESTAR

-0.32%

UNIQ
LIVE
SNC

0.35%
0.33%
0.33%

MC
AMATA
TPIPL

-0.28%
-0.26%
-0.26%

NW R

0.33%

PLE

-0.25%

Buy

Source: SET

Sell

Total

08-Jun-15
(%)

5 Days
(%)

-- Banking

983.69

928.70

1,912.39

53.08%

58.33%

-- Energy & Utilities

399.81

462.77

862.58

29.30%

25.21%

-- Information & Communication Technology

306.75

340.76

647.51

18.25%

32.65%

-- Construction Materials

394.91

135.80

530.71

18.38%

22.49%

-- Property Development

268.54

252.55

521.10

13.35%

13.83%

-- Transportation & Logistics

269.40

224.79

494.20

21.29%

29.98%

-- Food and Beverage

92.19

91.05

183.24

12.65%

12.12%

-- Commerce

83.92

73.54

157.45

13.77%

30.61%

-- Health Care Services

52.74

57.90

110.64

34.86%

28.57%

-- Media & Publishing

34.91

69.11

104.03

15.73%

17.29%

-- Electronic Components

51.86

46.46

98.32

38.75%

36.38%

-- Petrochemicals & Chemicals

59.92

36.42

96.35

19.34%

36.63%

-- Finance and Securities

34.72

8.41

43.12

12.45%

7.64%

-- Tourism & Leisure

11.69

2.50

14.19

15.12%

25.37%

-- Agribusiness

6.08

7.17

13.25

0.27%

0.85%

-- Packaging

0.68

6.59

7.27

15.84%

13.54%

-- Industrial Materials & Machinery

4.35

0.20

4.55

8.93%

12.16%

-- Fashion

1.50

1.25

2.75

0.84%

2.61%

-- Steel

0.85

1.62

2.47

1.69%

4.14%

-- Automotive

2.12

0.24

2.35

3.32%

4.23%

*% of Trading Volumn in Underlying Securities traded in each sector

Source: SET, KS

9 June 2015

ii

Morning Brief

Daily Stats
Daily Driver Stats (Market Summary)
Current Index

%Change
1D

1W

1M

52 week
1Y

YTD

High

Low

World Stock Index

Dow Jones

17,766.55

-0.46%

-1.52%

-2.33%

5.91%

-0.32%

18,312.39

16,117.24

S&P 500

2,079.28

-0.65%

-1.54%

-1.74%

7.39%

0.99%

2,130.82

1,862.49

Nasdaq

5,021.63

-0.92%

-1.21%

0.36%

16.49%

6.03%

5,106.59

4,213.66

FT SE 100

6,790.04

-0.21%

-2.35%

-3.64%

0.18%

3.41%

7,103.98

6,182.72

DAX

11,064.92

-1.18%

-3.25%

-5.51%

11.62%

12.84%

12,374.73

8,571.95

CAC

4,857.66

-1.28%

-3.34%

-4.57%

6.92%

13.69%

5,268.91

3,918.62

NIKKEI

20,457.19

-0.02%

-0.55%

5.56%

35.50%

17.23%

20,569.87

14,532.51

Hang Seng

27,316.28

0.21%

-1.02%

-0.95%

17.14%

15.72%

28,442.75

22,585.84

396.29

-0.70%

-2.51%

357.13

15.29

7.60%

9.45%

Dow Jones Real Estate

286.42

-0.22%

-3.56%

Dow Jones Financial Sector

448.70

-0.56%

Dow Jones Construction Material

543.31

-1.13%

Dow Jones Energy

647.43

MSCI Ex. JP
S&P Volatility (VIX Index)

-3.20%

6.16%

6.84%

424.12

25.53%

-20.36%

26.25

10.32

-4.14%

3.40%

-4.72%

325.45

269.75

-0.30%

-0.71%

9.32%

0.03%

456.46

399.00

-1.70%

-0.51%

3.64%

8.76%

559.53

450.45

-0.54%

-1.15%

-5.72%

-22.00%

-3.00%

855.72

612.64
1,129.71

18.90%

Dow Jones Technology

1,310.94

-1.27%

-2.38%

-0.81%

14.10%

3.40%

1,349.31

Dow Jones Health Care

788.47

-0.45%

-1.56%

0.87%

25.31%

8.71%

800.94

629.23

Dow Jones Consumer Services

720.52

-0.96%

-1.36%

-1.59%

17.23%

3.51%

745.23

597.32

SET Indices
SET Index

1,508.28

0.06%

0.82%

-0.15%

3.59%

0.71%

1,615.89

1,451.36

SET 100 Index

2,210.32

-0.06%

0.89%

-0.49%

2.47%

-0.10%

2,382.15

2,147.40

SET 50 Index

993.57

-0.08%

0.83%

-0.75%

1.60%

-0.74%

1,074.80

971.70

MAI Index

659.10

0.16%

0.45%

0.30%

33.32%

-5.85%

801.35

474.93

19,618.23

-0.03%

-0.34%

-3.73%

0.76%

4.92%

22,190.44

17,617.57

Bank

518.59

-0.47%

0.78%

-4.27%

-6.49%

-12.73%

688.00

506.86

Property

281.29

0.81%

2.13%

2.78%

-1.61%

-2.51%

326.12

267.36

Transportation

233.08

0.31%

1.88%

5.31%

24.54%

4.39%

244.71

185.10

14,171.56

0.06%

1.60%

0.77%

24.00%

19.26%

14,388.91

11,140.20

222.87

0.39%

1.11%

1.82%

5.41%

-0.57%

2.46%

-0.90%

28,753.21

0.50%

0.83%

3.52%

588.03

1.45%

3.28%

9.85%

Energy

Construction Materials
ICT
Electronic
Commerce
Hospitality & Leisure

1,922.94

243.57

202.35

26.39%

1,990.13

1,382.47

-3.82%

0.59%

32,041.97

26,953.26

7.85%

12.16%

608.67

513.15
0.31

37.00%

-3.65%

Fixed Income and FX

US 2-Y yield

0.68

-3.94%

5.60%

19.04%

51.52%

2.45%

0.74

US 5-Y yield

1.71

-1.99%

10.34%

14.62%

0.74%

3.19%

1.83

1.15

US 10-Y yield

2.38

-1.05%

9.31%

10.92%

-8.49%

9.73%

2.65

1.64

US Ted Spread

0.27

1.92%

-4.07%

-1.36%

34.36%

23.13%

0.28

0.19

Thai 2-Y yield

Thai 5-Y yield

1.60
2.42

0.32%
0.69%

6.11%
7.77%

-1.74%
6.27%

-29.48%
-23.12%

-24.36%
-2.43%

2.42
3.22

1.50
2.12
2.49

Thai 10-Y yield

3.01

1.61%

8.62%

8.72%

-20.40%

6.27%

3.81

Thai TED Spread

0.17

0.77%

-1.64%

6.90%

22.97%

27.93%

0.34

0.12

-1.05%

-2.15%

0.53%

18.27%

5.56%

100.33

79.78

Dollar Index
French CDS USD SR 5Y

95.30

-5.15%

-2.25%

-15.34%

-14.65%

-34.99%

55.31

30.57

Greece 5Yr USD CDS

451.61

30.76

0.00%

0.00%

0.00%

-3.57%

0.00%

496.09

432.65

Portugal 5Y r USD CDS

225.07

117.90

174.91

2.97%

1.61%

22.89%

22.32%

-13.59%

Ireland 5Yr USD CDS

51.99

0.50%

1.13%

4.95%

25.78%

3.62%

Spain 5Yr USD CDS

85.15

2.66%

-6.60%

-2.50%

36.24%

Italy 5Yr USD CDS

111.33

65.03

40.21

-11.76%

112.74

55.99

155.77

81.84

2.75%

-5.53%

-6.70%

32.76%

-18.51%

German 5Yr USD CDS

14.51

-1.01%

-9.35%

-20.83%

-25.47%

7.99%

23.41

13.44

US 5Yr CDS

16.51

2.03%

0.00%

2.04%

-2.57%

-3.92%

19.44

15.50

Thailand 5Y r CDS

102.83

0.00%

0.00%

-0.67%

-10.62%

-3.89%

119.51

80.84

Indonesia 5Yr CDS

176.94

1.68%

5.23%

6.62%

22.40%

-0.59%

178.00

127.99

Philippines 5Yr CDS

89.01

0.93%

2.35%

-0.52%

3.37%

-12.31%

105.34

78.51

USD : EURO

1.11

-0.80%

1.90%

-0.74%

-17.80%

-8.00%

1.37

1.05

USD : POUND

0.66

0.41%

-0.21%

1.23%

11.24%

2.24%

0.69

0.58

125.33

0.42%

1.02%

4.38%

22.84%

4.71%

125.33

101.29

-0.04%

0.08%

-0.08%

6.28

6.11

USD : Yen
USD : Yuan

6.20

-0.13%

-0.07%

Source: Bloomberg

9 June 2015

iii

Morning Brief

Daily Stats
Daily Driver Stats (Commodity)
Current Index

1D

%Change
1M

1W

1Y

52 week
High
Low

YTD

Current Price
Nymex Futures 1 M (USD/bbl)
GRM (USD/bbl)
Newcastle Coal Price (USD/tonne)
Baltic Dry Index (BDI)
Gold (USD/ounce)

Related Stocks

58.14

-1.67%

-3.42%

-2.10%

-45.62%

9.14%

7.73

0.00%

-8.74%

-6.19%

86.27%

10.59%

61.80

0.00%

0.00%

0.00%

-13.99%

-1.98%

72.25

610.00
1,173.53

107.26
10.10

43.46 PTT, PTTEP

2.50 PTTGC,TOP,IRPC,ESSO
61.80 BANPU,LANNA,UMS

0.00%

3.57%

6.27%

-32.67%

-21.99%

1,484.00

-0.06%

-1.03%

-1.06%

-7.83%

-0.71%

1,342.94

1,144.82

509.00 TTA, PSL

Thai Gold Bar (Bath/15.244 g)

18,910.00

0.21%

-1.05%

-0.21%

-3.57%

-0.16%

20,580.00

17,920.00

Near Month Gold Future (Baht)

18,750.00

0.00%

-0.79%

0.00%

-3.85%

1.63%

20,350.00

17,750.00

1,606.00

-0.56%

-3.31%

-1.53%

-17.98%

0.56%

2,150.00

1,528.00

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

0.00

0.00

0.20%

-1.26%

-7.08%

-11.09%

-6.74%

7,186.00

5,433.00

Silver (USD/ounce)
Near Month Silver Future (Baht)
Copper Spot (USD/MT)
CRB Index

5,938.75
223.03

0.23%

-0.20%

-2.67%

-28.05%

-3.01%

312.93

Zinc (USD/tonne)

2,139.00

0.42%

-0.74%

-9.17%

2.44%

-1.79%

2,410.00

1,988.00 PDI

Malaysian Palm Oil (MYR/tonne)

Sugar Price (US cent/lb)

2,297.50
12.16

0.00%
0.91%

2.57%
-0.73%

6.96%
-9.39%

-5.72%
-35.59%

0.02%
-20.26%

2,510.00
19.73

1,942.50 TVO, UVAN, UPOIC

11.87 KBS,KSL

Soybeans (USD/lb)
Soybean Oil (USD/pound)

9.40

0.70%

1.98%

-3.54%

-34.49%

-7.30%

14.72

34.35

-1.94%

-1.18%

4.22%

-14.25%

6.61%

41.35

209.00

8.98
29.54 TVO, UVAN, UPOIC

Soybean Meal (USD/short ton)

316.20

0.00%

-0.50%

-2.83%

-36.60%

-24.37%

593.20

313.70

Rubber (JPY/kg)

238.00

-1.00%

-2.38%

6.87%

18.35%

11.58%

243.80

175.40 STA, TRUBB

Chicken - (Bt/kg)

38.50

0.00%

0.00%

1.32%

-14.44%

-6.10%

47.50

Pork (Bt/kg)

57.00

0.71%

2.91%

4.43%

4.43%

-13.93%

81.50

1,375.00

0.00%

0.00%

3.38%

0.73%

52.78%

1,490.00

Ethylene (USD/tonne)
Propyene (USD/tonne)
HDPE (USD/tonne)

32.50 CPF,GFPT
49.88 CPF
820.00

925.00

0.00%

0.00%

-8.87%

-31.48%

72.90%

1,390.00

535.00

1,350.00

0.00%

0.00%

-2.88%

-15.63%

15.38%

1,610.00

1,090.00

PVC CFR Far East (USD/tonne)

870.00

0.0%

-3.9%

-16.7%

Naptha (USD/tonne)

557.13

2.01%

0.0%

-0.78%

-2.94%

-42.98%

Ethylene Spread (Olefin)

817.87

-1.33%

0.54%

8.18%

Propylene Spread (Olefin)

367.87

-2.90%

1.20%

-16.58%

HDPE Spread (Olefin)

792.87

-1.37%

0.55%

-2.83%

110.79%

9.4%
19.68%

1,060.00

795.00

993.50

398.25
301.50 PTTGC

88.23%

831.50

429.31%

566.75

27.27%

12.54%

848.25

571.50 PTTGC, SCC

362.50 SSI, GSTEL, GJS

-1.38%

21.75 PTTGC

Hot Rolled Coil (USD/tonne)

370.00

0.00%

0.00%

2.07%

-31.16%

-17.78%

545.00

Rebar (USD/tonne)

432.50

0.00%

0.00%

0.00%

-19.53%

0.00%

537.50

432.50 TSTH, BSBM

Slab (USD/tonne)

302.50

0.00%

0.00%

-0.82%

-39.50%

-22.93%

500.00

302.50 SSI

Scrap (USD/tonne)

274.00

0.00%

0.00%

0.92%

-22.93%

-10.75%

373.50

228.50 TSTH, GSTEL, GJS

Billet (USD/tonne)

358.50

-2.45%

-2.45%

-3.11%

-27.21%

-9.58%

516.00

355.00 BSBM

Spread Rebar-Billet (USD/tonne)

74.00

13.85%

13.85%

18.40%

64.44%

105.56%

87.50

21.50 BSBM

Spread HRC-Slab (USD/tonne)

67.50

0.00%

0.00%

17.39%

80.00%

17.39%

75.00

10.00 SSI

Source : Bloomberg, SET Smart

9 June 2015

iv

Morning Brief

Daily Stats
Director Trade
Director Trade
Transaction Stock

Types of

Dat e

Securities

Name of Management

Transaction

Avg Price

Amount

Total

(Bt)

(shares)

(Bt)
6,536,000

3-Jun-15

AEC

Common share

APICHAI TAECHAUBOL

Sell

0.86

7,600,000

4-Jun-15

AEC

Common share

APICHAI TAECHAUBOL

Sell

0.85

2,794,000

2,374,900

5-Jun-15

BA

Common share

PUTTIPONG PRASARTTONG-OSOTH

Buy

21.55

200,000

4,310,000

5-Jun-15

BA

Common share

4-Jun-15

CIG

3-Jun-15

FIRE

4-Jun-15

PUTTIPONG PRASARTTONG-OSOTH

Buy

21.50

100,000

2,150,000

THEERA POOMSANOH

Sell

0.25

1,500,000

375,000

Common share

PRACHA PHROMPHORNCHAI

Buy

3.26

30,000

97,800

FSMART

Common share

PICHIT NIMKUL

Sell

12.05

200,000

2,410,000

2-Jun-15

NOK

Common share

PATEE SARASIN

Sell

10.65

40,000

426,000

4-Jun-15

NOK

Common share

PATEE SARASIN

Sell

10.50

150,000

1,575,000

3-Jun-15

PTG

Common share

SAKANAN WIJITTHANARAK

Sell

13.26

5,000,000

66,300,000

5-Jun-15

PTG

Common share

SAKANAN WIJITTHANARAK

Sell

13.76

800,000

11,008,000

W arrant

4-Jun-15

SNP

Common share

KAMTORN SILA-ON

Buy

26.50

200,000

5,300,000

4-Jun-15

SNP

Common share

PATARA SILA-ON

Buy

26.50

600,000

15,900,000

4-Jun-15

SNP

Common share

VITOON SILA-ON

Buy

26.50

200,000

5,300,000

4-Jun-15

SMIT

Common share

THANA SENAVATTANAGUL

Buy

4.40

15,000

66,000

4-Jun-15

SMIT

Common share

THANA SENAVATTANAGUL

Buy

4.42

10,000

44,200

4-Jun-15

SMPC

Common share

YAUN RIYATANON

Buy

5.20

20,000

104,000

5-Jun-15

SRICHA

Common share

SOMBOON YINGYONGKITMONGKOL

Sell

27.50

1,400

38,500

4-Jun-15

STAR

SATHAPORN KOTHEERANURAK

Sell

5.25

2,500

13,125

W arrant

3-Jun-15

T FD

Common share

APICHAI TAECHAUBOL

Buy

4.23

2,170,000

9,179,100

4-Jun-15

T FD

Common share

APICHAI TAECHAUBOL

Buy

4.22

590,000

2,489,800

4-Jun-15

T POLY

Common share

SURACHA TANSATAPORNCHAI

Sell

4.90

82,600

404,740

3-Jun-15

T ICON

Common share

SIRIPORN SOMBATWATTHANA

Sell

16.11

578,400

9,318,024

3-Jun-15

T ICON

Common share

THREEKWAN BUNNAG

Sell

16.20

50,000

810,000

4-Jun-15

T RT

W arrant

SUMPAN VONGPHAN

Sell

0.70

154,925

108,448

3-Jun-15

T VD

W arrant

WIRASACK WIROJWATTANAKUL

Sell

0.88

41,000

36,080

Remark

Source : www.sec.or.th

9 June 2015

Morning Brief

Daily Stats
Insider Trading
Change 1W (Btmn)

Gainers

Change 1M (Btmn)

Gainers

BA

109.64

Change 3M (Btmn)

Gainers

Change 6M (Btmn)

Gainers

Change YTD (Btmn)

Gainers

BA

335.25

PACE

940.00

PACE

940.00

PACE

940.00

134.95

BA

335.31

BA

362.65

BA

352.80

IEC

33.50

BDMS

MINT

25.69

LPN

41.78

TH

89.18

NMG

311.76

RS

345.84

MCS

4.68

MTLS

35.93

SYNTEC

82.44

TH

261.77

NMG

311.76

SMPC

4.00

MINT

34.21

AJD

74.40

SYNTEC

133.01

TH

227.28

MONO

3.62

IEC

33.50

ACD

45.24

EARTH

120.64

SYNTEC

133.01

SAMTEL

3.39

JUBILE

25.20

SAMART

43.60

ACD

115.64

EARTH

120.64

RS

2.48

VIBHA

22.94

LPN

43.47

IFEC

104.41

ACD

115.64

ADVANC

2.30

SPALI

17.95

MTLS

39.69

CPF

103.64

IFEC

104.41

VIBHA

1.92

CGH

17.52

CPF

36.51

SIRI

90.60

CPF

103.08

Losers

Losers

MAJOR

-175.00

TUF

PSL

-100.50

MAJOR

TICON

-16.00

PSL

Losers
-2400.00
-175.00
-99.50

Losers

Losers

TUF

-4816.07

TUF

-4830.38

TUF

WORK

-1229.20

WHA

-3164.46

WHA

-3164.46

AAV

-1486.31

WORK

-1230.27

PSL

-447.27

-4830.88

PJW

-5.46

TICON

-17.59

BEAUTY

-389.66

WORK

-1230.27

EA

-1112.75

PSTC

-4.20

SCC

-10.40

UBIS

-380.12

EA

-1112.75

SAWAD

-1050.00

TASCO

-2.22

BLA

-8.78

MAJOR

-312.61

SAWAD

-1050.00

TPOLY

-1.47

TSI

-8.77

FANCY

-227.24

BEAUTY

-915.88

BEAUTY

-915.88

MAJOR

-738.38

GL

-0.80

TTCL

-6.35

HEMRAJ

-143.66

AP

MEGA

-0.39

HANA

-6.06

SPI

-93.27

MAJOR

-840.50

CGD

-660.00

-738.38

JMART

TSTE

-0.36

PJW

-5.46

PTG

-88.25

CGD

-660.00

-639.53

KC

-612.75

Source: KS Research, as of 5 June 2015

Foreign Ownership - top ten gainers and losers

Change 1D

Gainers

Change 1W

Gainers

Change 1M

Gainers

Change 3M

Gainers

Change YTD

Gainers

JAS

0.49

JAS

0.85

MINT

1.99

AP

6.75

AP

9.09

BCP

0.14

BCP

0.68

THCOM

1.98

SIRI

5.04

STEC

8.77

THCOM

0.13

THCOM

0.51

TISCO

1.59

STEC

3.95

EARTH

5.27

CENTEL

0.10

IFEC

0.51

AP

1.55

MINT

2.89

SIRI

4.97

MEGA

0.09

MAJOR

0.47

TICON

1.15

CENTEL

2.60

AAV

4.77

BANPU

0.08

SAWAD

0.45

KCE

1.10

LPN

2.59

BAY

4.70

TUF

0.07

BTS

0.41

INTUCH

0.95

TISCO

2.58

MINT

4.58

TICON

0.06

MEGA

0.36

PTTGC

0.93

THCOM

2.44

SAWAD

4.27

PTTGC

0.05

CK

0.35

MEGA

0.92

TRUE

2.42

TICON

4.21

ANAN

0.05

STEC

0.31

BTS

0.91

MAJOR

2.26

AMATA

4.02

Losers

Losers

Losers

Losers

Losers

AMATA

-0.13

EARTH

-0.91

PSL

-4.87

JAS

-10.61

JAS

-8.44

TTCL

-0.11

AMATA

-0.73

VGI

-2.47

PSL

-6.94

PSL

-7.41

BCH

-0.09

VGI

-0.58

TCAP

-2.02

SAMART

-4.69

GFPT

-7.21

SPALI

-0.09

KTB

-0.44

SPALI

-1.56

TMB

-2.84

BECL

-6.91

KTB

-0.08

SAMART

-0.37

EARTH

-1.45

BECL

-2.63

SAMART

-6.33

LOXLEY

-0.07

LOXLEY

-0.34

TTCL

-1.36

TCAP

-2.61

TTA

-3.89

MINT

-0.06

HANA

-0.30

BECL

-1.25

EARTH

-2.49

DEMCO

-3.82

PTTEP

-0.05

TPIPL

-0.28

GUNKUL

-1.06

VGI

-2.35

TCAP

-2.93

SAWAD

-0.04

QH

-0.27

HANA

-0.99

GFPT

-1.79

HANA

-2.62

TTW

-0.04

MINT

-0.25

QH

-0.96

QH

-1.72

VGI

-2.57

Source: SET100, Setsmart

9 June 2015

vi

Morning Brief

Daily Stats
Economic Calendar
Date Time

Country

Event

Period

06/10/2015 14:30
06/12/2015 14:30

Thailand
Thailand

BoT Benchmark Interest Rate

Foreign Reserves

Jun-15
Jun-15

06/12/2015 14:30
06/09/2015 06:50
06/09/2015 06:50

Thailand
Japan
Japan

Forward Contracts
Money Stock M2 YoY
Money Stock M3 YoY

Jun-15
May
May

06/09/2015 07:00
06/09/2015 07:01
06/09/2015 08:30

Japan
China
China

Manpower Survey
Manpower Survey
CPI YoY

06/09/2015 08:30
06/09/2015 12:00
06/09/2015 13:00

China
Japan
Japan

PPI YoY
Consumer Confidence Index
Machine Tool Orders YoY

06/09/2015 16:00
06/09/2015 16:00
06/09/2015 16:00

Eurozone
Eurozone
Eurozone

Eurozone
GDP SA QoQ
Eurozone
GDP SA YoY
United States NFIB Small Business Optimism

06/09/2015 21:00
06/09/2015 21:00
06/09/2015 21:00

United States Wholesale Inventories MoM

United States Wholesale Trade Sales MoM
United States JOLTS Job Openings

06:50
06:50
06:50
06:50

06/10/2015 18:00
06/10/2015 06/15
06/10/2015 06/15
06/10/2015 06/15
06/10/2015 06/15
06/10/2015 06/15
06/11/2015 01:00
06/11/2015 06:50
06/11/2015 06:50

Japan
Japan
Japan
Japan

May
May
May P

Gross Fix Cap QoQ

Govt Expend QoQ
Household Cons QoQ

06/09/2015 16:00
06/09/2015 16:00
06/09/2015 17:00

06/10/2015
06/10/2015
06/10/2015
06/10/2015

3Q
3Q
May

1Q
1Q
1Q
1Q P
1Q P
May
Apr
Apr
Apr

Machine Orders MoM

Machine Orders YoY
PPI MoM
PPI YoY

Apr
Apr
May
May

United States MBA Mortgage Applications

China
Aggregate Financing CNY
China
Money Supply M1 YoY
China
China
China

Jun-15
May
May

Money Supply M0 YoY

New Yuan Loans CNY
Money Supply M2 YoY

May
May
May

United States Monthly Budget Statement

Japan
BSI Large All Industry QoQ
Japan
BSI Large Manufacturing QoQ

May
2Q
2Q

06/11/2015 06:50
06/11/2015 06:50
06/11/2015 06:50

Japan
Japan
Japan

Japan Buying Foreign Bonds

Japan Buying Foreign Stocks
Foreign Buying Japan Bonds

Jun-15
Jun-15
Jun-15

06/11/2015 06:50
06/11/2015 08:00
06/11/2015 09:00

Japan
Japan
Japan

Foreign Buying Japan Stocks

Bloomberg June Japan Economic Survey
Tokyo Avg Office Vacancies

Jun-15
Jan-00
May

06/11/2015 12:30
06/11/2015 12:30
06/11/2015 12:30

China
China
China

Retail Sales YoY

Retail Sales YTD YoY
Industrial Production YoY

May
May
May

06/11/2015 12:30
06/11/2015 12:30
06/11/2015 13:00

China
China
China

Industrial Production YTD YoY

Fixed Assets Ex Rural YTD YoY
Bloomberg GDP Monthly Estimate YoY

May
May
May

06/11/2015 19:30
06/11/2015 19:30
06/11/2015 19:30

United States Retail Sales Advance MoM

United States Retail Sales Ex Auto MoM
United States Retail Sales Ex Auto and Gas

May
May
May

06/11/2015 19:30
06/11/2015 19:30

United States Retail Sales Control Group

United States Import Price Index MoM

May
May

Survey

Actual

Prior

Revised

1.50%
--3.60%

---4.00%

1.50%
$158.5B
$19.1B
3.60%

-----

3.00%
---

3.30%
23
13.00%

3.00%
19
9.00%

-21
--

1.30%
-4.50%
41.9

----

1.50%
-4.60%
41.5

----

-0.60%
0.40%

----

10.50%
0.40%
0.20%

----

0.60%
0.40%
1.00%

----

0.40%
0.40%
1.00%

----

97.2
0.20%
0.60%

----

96.9
0.10%
-0.20%

----

5044
-2.10%
-1.40%

----

4994
2.90%
2.60%

----

0.20%
-2.20%
--

----

0.10%
-2.10%
-7.60%

----

1132.5B
4.00%
3.60%

----

1050.0B
3.70%
3.70%

1050.4B
---

850.0B
10.50%
-$97.5B

----

707.9B
10.10%
-$130.0B

----

-----

-----

1.9
2.4
-348.4B
168.7B

-----

--0

--0

-6.2B
574.2B
0

--0

-10.10%
10.40%

----

5.34
10.00%
10.40%

----

6.00%
6.20%
11.90%

----

5.90%
6.20%
12.00%

----

-1.20%
0.80%

----

6.40%
0.00%
0.10%

----

0.50%
0.50%
0.80%

----

0.20%
0.00%
-0.30%

----

Source : Bloomberg

9 June 2015

vii

Morning Brief

Daily Stats
Economic Calendar
Date Time

Country

Event

Period

Survey

Actual

Prior

Revised

-10.00%

--

-10.70%

--

Jun-15

275K

--

276K

--

Continuing Claims
Bloomberg June United States Economic Survey

May-15
Jan-00

2200K

--

2196K

--

Bloomberg Consumer Comfort

Jun-15

--

--

40.5

--

06/11/2015 19:30

United States

Import Price Index YoY

06/11/2015 19:30

United States

Initial Jobless Claims

06/11/2015 19:30
06/11/2015 19:45

United States
United States

06/11/2015 20:45

United States

May

06/11/2015 21:00

United States

Business Inventories

Apr

0.20%

--

0.10%

--

06/11/2015 23:00

United States

Household Change in Net Worth

1Q

--

--

$1517B

--

06/12/2015 11:30

Japan

Industrial Production MoM

Apr F

--

--

1.00%

--

06/12/2015 11:30

Japan

Industrial Production Y oY

Apr F

--

--

-0.10%

--

06/12/2015 11:30

Japan

Capacity Utilization MoM

Apr

--

--

-1.20%

--

06/12/2015 11:30

Japan

Tertiary Industry Index MoM

Apr

0.40%

--

-1.00%

--

06/12/2015 16:00

Eurozone

Industrial Production SA MoM

Apr

06/12/2015 16:00

Eurozone

Industrial Production W DA YoY

Apr

0.40%
1.10%

---

-0.30%
1.80%

---

06/12/2015 19:30

United States

PPI Final Demand MoM

May

0.40%

--

-0.40%

--

06/12/2015 19:30
06/12/2015 19:30

United States
United States

PPI Ex Food and Energy MoM

PPI Ex Food, Energy, Trade MoM

May
May

0.10%

--

-0.20%

--

0.10%

--

0.10%

--

06/12/2015 19:30

United States

PPI Final Demand Y oY

May

-1.10%

--

-1.30%

--

06/12/2015 19:30

United States

PPI Ex Food and Energy Y oY

May

0.70%

--

0.80%

--

06/12/2015 19:30

United States

PPI Ex Food, Energy, Trade YoY

May

0.90%

--

0.70%

--

06/12/2015 21:00

United States

U. of Mich. Sentiment

Jun P

91.2

--

90.7

--

06/12/2015 21:00

United States

U. of Mich. Current Conditions

Jun P

--

--

100.8

--

06/12/2015 21:00

United States

U. of Mich. Expectations

Jun P

--

--

84.2

--

06/12/2015 21:00

United States

U. of Mich. 1 Yr Inflation

Jun P

--

--

2.80%

--

06/12/2015 21:00

United States

U. of Mich. 5-10 Yr Inflation

Jun P

06/14/2015 06/18

China

-8.00%

---

2.80%
10.50%

---

06/15/2015 13:30

Eurozone

Foreign Direct Investment YoY CNY

May

Bloomberg June Eurozone Economic Survey

Jan-00

Source : Bloomberg

9 June 2015

viii

Morning Brief

Daily Stats
Company's Calendar
Mon

Tue

8-Jun-15

9-Jun-15

Wed

Thu

10-Jun-15
0

11-Jun-15

As of 8 June 2015
Sat

Fri
12-Jun-15

13-Jun-15

WIIK-XW@3(O):1(N)
New Listing: ITD-W1
New Listing: SMM-W3
New Listing: CKP-W1

15-Jun-15

LHK-XD@0.1

16-Jun-15

17-Jun-15

18-Jun-15

19-Jun-15

20-Jun-15

24-Jun-15

25-Jun-15

26-Jun-15

27-Jun-15

3-Jul-15

4-Jul-15

WHAPF-XD@0.175
JMT-XW@5(O):1(N)

22-Jun-15

23-Jun-15

IFEC-XW@4(O):1(N)
JAS-XW@2.04(O):1(N)
AIRA-XW@0(O):0(N)
AIRA-XW@0(O):0(N)
AIRA-XR5(O):2(N)@1

29-Jun-15

Remark
XD - Cash Dividend
XD(ST) - Stock Dividend

30-Jun-15

1-Jul-15

2-Jul-15

XR - Rights for Common

XW - Rights for Warrant

Source : SET as of previous trading day

9 June 2015

ix

Morning Brief

Daily Stats
Company's Calendar
Mon

Tue

Wed

Thu

Fri

8-Jun-15

9-Jun-15

10-Jun-15

11-Jun-15

12-Jun-15

Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
15-Jun-15

KKP28C1506A
TPIP28C1506A
THCO28C1506A
BBL28C1506A
SPCG28C1506A
AOT28C1506A
EART28C1506A
INTU28C1506A
ITD28C1506A
KTB28C1506A
PS28C1506A
SCB28C1506A
WHA28C1506A
INTU28P1506A
PTT28P1506A
SCB28P1506A

16-Jun-15

Delisted share: BDMS13C1506A

Delisted share: SCB13C1506A

Delisted share:
Delisted share:
Delisted share:
Delisted share:

17-Jun-15

BBL13C1506A
THAI13C1506A
INTU13P1506A
CEN-W3

18-Jun-15

Delisted share: ITD13C1506A

19-Jun-15

Delisted share: BMCL13C1506A

22-Jun-15

23-Jun-15

29-Jun-15

30-Jun-15
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:

ADVA42C1506A
AMAT42C1506A
BDMS42C1506A
BLA42C1506A
DELT42C1506A
DTAC42C1506A
EGCO42C1506A
GFPT42C1506A
INTU42C1506A
JAS42C1506A
LH42C1506A
MAJO42C1506A
MC42C1506A
MEGA42C1506A
MINT42C1506A
PTT42C1506A
PTTE42C1506A
SCB42C1506A
STPI42C1506A
TICO42C1506A
TISC42C1506A
TOP42C1506A
WHA42C1506A

BANP16C1506A
HMPR16C1506A
IRPC16C1506A
LH16C1506A
PTTG16C1506A
SCB16C1506A

13-Jun-15
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:

AOT16C1506A
BJC16C1506A
DTAC16C1506A
IVL16C1506A
JAS16C1506A
BMCL28C1506A
TTA28C1506A
IVL13C1506A
PTTG13C1506A

20-Jun-15
Delisted share: AQ-W2

24-Jun-15
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:

As of 8 June 2015
Sat

25-Jun-15
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:
Delisted share:

1-Jul-15

BBL08C1506A
BDMS08C1506A
BJC08C1506A
CK08C1506A
IVL08C1506A
KBAN08C1506A
KKP08C1506A
LH08C1506A
TPIP08C1506A
BLAN27C1506A
BTS27C1506A
MC27C1506A
PTT27C1506A
SCB27C1506A
SIRI27C1506A
THCO27C1506A
VGI27C1506A

2-Jul-15

Delisted share: CPI-W1

26-Jun-15
Delisted share:
Delisted share:
Delisted share:
Delisted share:

27-Jun-15

AOT07C1506A
CK07C1506A
TPIP07C1506A
IVL07C1506A

3-Jul-15
Delisted share: KBAN13P1506A
Delisted share: KTB13C1506A

4-Jul-15
Delisted share: PTT13C1506A
Delisted share: TRUE13C1506A
Delisted share: TPIP13C1506A

Source : SET as of previous trading day

9 June 2015

Morning Brief

Daily Stats
General Disclaimer
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The disclosure of the survey result of the Thai Institute of Directors Association (IOD) regarding corporate governance is made pursuant to the policy of
the Office of the Securities and Exchange Commission. The survey of the IOD is based on the information of companies listed on the Stock Exchange of
Thailand and the Market of Alternative Investment disclosed to the public and able to be accessed by a general public investor at http://www.thaiiod.com/en/publications-detail.asp?id=170 . The result, therefore, is from the perspective of a third party. It is not an evaluation of operation and is not
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Structured Notes and Derivative Warrants Disclaimer

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KS acts as market maker and issuer of Derivative Warrants (DWs) on the underlying stocks listed below. Investors should carefully read the details of the
DWs in the prospectus before making any investment decisions.
DWs Underlying Stocks: AAV, ADVANC, AMATA, AOT, AP, BANPU, BBL, BCP, BDMS, BH, BLAND, BMCL, BTS, CENTEL, CK, CPALL, CPF, CPN, DTAC, EARTH,
GLOBAL, GUNKUL, HEMRAJ, HMPRO, INTUCH, IRPC, ITD, IVL, JAS, KCE, KTB, LH, LPN, MAJOR, MINT, PS, PTT, PTTEP, PTTGC, QH, RATCH, ROBINS, SAMART,
SAWAD, SCB, SCC, SIRI, SPALI, SPCG, STEC, STPI, TCAP, THAI, THCOM, TICON, TMB, TOP, TPIPL, TRUE, TTA, TTCL TUF and VGI

9 June 2015

xi

Morning Brief