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.

Thematic (Sector/Industry)

<ul><li>The SET Index is expected to rebound today, with support at 1,386/1,361 points and resistance at 1,400/1,420 points.</li><li>Trump signaled progress in US–Iran negotiations and ordered a five-day delay (expected until March 28) in attacks on Iran’s power plants and energy infrastructure.</li><li>Following the royal endorsement of the Prime Minister on March 20, the Cabinet Secretariat is currently vetting the backgrounds and qualifications of the new cabinet members.</li></ul>

The SET Index is expected to rebound today, with support at 1,386/1,361 points and resistance at 1,400/1,420 points.Trump signaled progress in US–Iran negotiations and ordered a five-day delay (expected until March 28) in attacks on Iran’s power plants and energy infrastructure.Following the royal endorsement of the Prime Minister on March 20, the Cabinet Secretariat is currently vetting the backgrounds and qualifications of the new cabinet members.

Krungthai XSpring Zoom Eng. March 24, 2026

<ul><li>Amid escalating threats from both the US and Iran targeting energy infrastructure, surging crude oil and gas prices weighed heavily on Asian markets, with the SET Index declining sharply.</li><li>The index fell below 1,400 but remains within the 1,400–1,386 support zone, leaving room for a potential rebound.</li><li>Therefore, we recommend buying on weakness, as the current decline could trigger a technical rebound.</li></ul>

Amid escalating threats from both the US and Iran targeting energy infrastructure, surging crude oil and gas prices weighed heavily on Asian markets, with the SET Index declining sharply.The index fell below 1,400 but remains within the 1,400–1,386 support zone, leaving room for a potential rebound.Therefore, we recommend buying on weakness, as the current decline could trigger a technical rebound.

Krungthai XSpring Technical Eng. March 24, 2026

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Oct 2nd. We estimate that they had an aggregated short interest worth USD3.3bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Bumrungrad Hospital, Delta Electronics, TISCO Financial, Krungthai Card, CP ALL, Delta Electronics, CP ALL, Bumrungrad Hospital, Tisco Financial.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Oct 2nd. We estimate that they had an aggregated short interest worth USD3.3bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Bumrungrad Hospital, Delta Electronics, TISCO Financial, Krungthai Card, CP ALL, Delta Electronics, CP ALL, Bumrungrad Hospital, Tisco Financial.


Thailand Short Interest Weekly (Oct 2nd): Bumrungrad Hospital, Delta Electronics, TISCO Financial

<ul>
<li>We analyzed the changes in short interest of Stock Exchange of Thailand as of Sep 25th. We estimate that they had an aggregated short interest worth USD3.5bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Delta Electronics, Minor International, Bangkok Dusit, Gulf Energy Development, IRPC, Delta Electronics, Gulf Energy Development, Bangkok Dusit, Irpc, Minor International.</li>
</ul>


We analyzed the changes in short interest of Stock Exchange of Thailand as of Sep 25th. We estimate that they had an aggregated short interest worth USD3.5bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Delta Electronics, Minor International, Bangkok Dusit, Gulf Energy Development, IRPC, Delta Electronics, Gulf Energy Development, Bangkok Dusit, Irpc, Minor International.


Thailand Short Interest Weekly (Sep 25th): Delta Electronics, Minor International, Bangkok Dusit

<ul><li>The SET dropped sharply after DELTA fell significantly following its inclusion under the cash balance measure, while profit-taking ahead of the long holiday added further pressure.</li><li>Trading sentiment remained subdued, reflected by light volume, and the index eventually closed 0.51% lower from the previous week.</li><li>Therefore, we view the index’s pullback as an opportunity to accumulate stocks, as it still has potential to rebound.</li></ul>

The SET dropped sharply after DELTA fell significantly following its inclusion under the cash balance measure, while profit-taking ahead of the long holiday added further pressure.Trading sentiment remained subdued, reflected by light volume, and the index eventually closed 0.51% lower from the previous week.Therefore, we view the index’s pullback as an opportunity to accumulate stocks, as it still has potential to rebound.

Krungthai XSpring Technical Eng. October 14, 2025

Thailand

Delta Electronics (Thailand) Public Co. Ltd. manufactures and distributes power supplies, electronic equipment, and components such as DC fans, EMI filters, and solenoids. The company also provides solutions including EV chargers, industrial automation, data center infrastructure, and smart energy management. Headquartered in Samut Prakan, Thailand, the company was established in 1988.

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Delta Electronics (Thailand) (DELTA TB)

Krungthai XSpring Zoom Eng. March 24, 2026

Trump signaled progress in US–Iran negotiations and ordered a five-day delay (expected until March 28) in attacks on Iran’s power plants and energy...

Krungthai XSpring

Krungthai XSpring Technical Eng. March 24, 2026

Amid escalating threats from both the US and Iran targeting energy infrastructure, surging crude oil and gas prices weighed heavily on Asian...

Krungthai XSpring

Thailand Short Interest Weekly (Oct 2nd): Bumrungrad Hospital, Delta Electronics, TISCO Financial

We analyzed SET short interest report for the past week and highlighted short interest changes in Bumrungrad Hospital (BH TB), Delta Electronics...

Ke Yan, CFA, FRM

Thailand Short Interest Weekly (Sep 25th): Delta Electronics, Minor International, Bangkok Dusit

We analyzed SET short interest report for the past week and highlighted short interest changes in Delta Electronics (DELTA TB), Minor International...

Ke Yan, CFA, FRM

Krungthai XSpring Technical Eng. October 14, 2025

The SET dropped sharply after DELTA fell significantly following its inclusion under the cash balance measure, while profit-taking ahead of the...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)