After similar moves in Malaysia and Indonesia in recent years, Nomura is launching equity research coverage on Thailand. It is doing this in partnership with Capital Nomura Securities (CNS), a local Thai securities house in which Japan’s top brokerage is a minority shareholder.
Nomura and CNS have set up a team of equity analysts that will produce equity research for Nomura’s global institutional client base. The Bangkok-based team is managed by Nithi Wanikpun, who has joined CNS as a director and head of research, Nomura said in a statement yesterday.
Wanikpun is responsible for producing Thai equity strategy and energy sector research, and is supervised by Jit Soon Lim, Nomura’s head of equity research for Southeast Asia. Wanikpun and his team started work earlier this month, according to a Nomura spokesman.
CNS has already been producing equity research for domestic retail investors, but prior to this partnership, Nomura itself didn’t have any Thai equity research, the spokesman said.
“Over the years, we have been consistently building up Nomura’s equity research franchise across the region and the launch of the equity research coverage in Thailand reflects our commitment to further broaden the scope of our research product for our clients,” Lim was quoted as saying in the statement.
Nomura launched equity research coverage in Malaysia in 2009 and in Indonesia in 2010.
Wanikpun joined CNS from BNP Paribas where he was covering the energy sector. Prior to that, he was head of equity and research at SCB Securities.
The other team members are: James Moss, who covers banks; Piyathida Vongvivathchai, who covers property; Ploenjai Jirajarus, who covers agri-food; Samanan Polsomboonchok, who covers small-caps; Piyachat Ratanasuvan, who covers telecommunications; and Nuchjarin Panarode, who covers macroeconomics.
Thailand is one of the best performing equity markets in Asia so far this year. The Bangkok SET Index is up 19% year-to-date, just ahead of an 18.8% gain in the Philippine Stock Exchange PSEi Index.