Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

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.

Technical Analysis

Kiatnakin Phatra Bank / Technical Analysis

Kiatnakin Phatra Bank Public Company Limited is a full-service commercial bank based in Thailand, offering a wide range of financial products and services to individual, business, corporate, and institutional clients. Its offerings include deposits, various types of loans (auto, personal, home, SME), investment products, and digital banking services. The company is headquartered in Bangkok, Thailand, and was founded in 1971.

<ul><li>The SET faced profit-taking despite gains in US stocks as oil prices and US bond yields eased.</li><li>We maintain our recommendation for selective buying as market leadership continues to rotate among leading stocks.</li><li>The MACD histogram could also turn positive.</li></ul>

The SET faced profit-taking despite gains in US stocks as oil prices and US bond yields eased.We maintain our recommendation for selective buying as market leadership continues to rotate among leading stocks.The MACD histogram could also turn positive.

The Bangkok SET Index is a capitalization-weighted index of stocks traded on the Stock Exchange of Thailand. The index was developed with a base value of 100 as of April 30, 1975. 

<ul><li>Despite weakness in technology stocks, most Asian markets rose as the US 10-year bond yield declined.</li><li>The SET also rebounded quickly, supported by buying in power, transportation and oil stocks, alongside strong gains in KCE, HANA, SMT and CCET.</li><li>We recommend selective buying amid ongoing sector rotation, while anticipating selling pressure at higher levels.</li></ul>

Despite weakness in technology stocks, most Asian markets rose as the US 10-year bond yield declined.The SET also rebounded quickly, supported by buying in power, transportation and oil stocks, alongside strong gains in KCE, HANA, SMT and CCET.We recommend selective buying amid ongoing sector rotation, while anticipating selling pressure at higher levels.

<ul><li>Concerns over rising oil prices and US bond yields, alongside declines in Asian stock markets, triggered selling pressure on the SET at the open.</li><li>Selling volume also declined and remained relatively light, suggesting limited downside or possible sideways consolidation.</li><li>We recommend buying on weakness, as we still expect a rebound, particularly given that most blue-chip stocks have faced relatively limited selling pressure.</li></ul>

Concerns over rising oil prices and US bond yields, alongside declines in Asian stock markets, triggered selling pressure on the SET at the open.Selling volume also declined and remained relatively light, suggesting limited downside or possible sideways consolidation.We recommend buying on weakness, as we still expect a rebound, particularly given that most blue-chip stocks have faced relatively limited selling pressure.

<ul><li>Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling pressure.</li><li>The index rose for the fifth consecutive session, maintaining a higher-high pattern as blue-chip stocks took turns leading the market.</li><li>We recommend buying on weakness, as the index remains highly volatile.</li></ul>

Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling pressure.The index rose for the fifth consecutive session, maintaining a higher-high pattern as blue-chip stocks took turns leading the market.We recommend buying on weakness, as the index remains highly volatile.

Krungthai XSpring Technical Eng. - October 8, 2026

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Nasdaq-100 Stock Index / Technical Analysis

The NASDAQ-100 Index is a modified capitalization-weighted index of the 100 largest and most active non-financial domestic and international issues listed on the NASDAQ. No security can have more than a 24% weighting. The index was developed with a base value of 125 as of February 1, 1985. Prior to December 21,1998 the Nasdaq 100 was a cap-weighted index.

<ul>
<li>We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.</li>
<li>We also remain bullish on Technology and A.I. areas (XLK, SOXX, DRAM), and we have Technology on watch for a potential upgrade to overweight.</li>
<li>The Nasdaq 100 (QQQ) and the XLK are both breaking out of their 4-month bases, a very bullish sign as long as $745 and $197 supports hold on any pullbacks.</li>
</ul>


We remain bullish (as of our 4/21/26 Compass) on the S&amp;P 500 (SPX), and we will stay that way as long as support at 7507-7580 holds.
We also remain bullish on Technology and A.I. areas (XLK, SOXX, DRAM), and we have Technology on watch for a potential upgrade to overweight.
The Nasdaq 100 (QQQ) and the XLK are both breaking out of their 4-month bases, a very bullish sign as long as $745 and $197 supports hold on any pullbacks.


Nasdaq 100 and Technology (XLK) With 4-Month Base Breakouts; Downgrading Staples to Underweight