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 trade sideways with an upward bias today, though momentum may be softer than in the previous session.</li><li>The US: US equities edged higher (S&amp;P500 +0.06%, NASDAQ +0.39%), with gains led by technology stocks.</li><li>Thailand: Finance Minister Ekniti Nitithanprapas reaffirmed that the government will accelerate economic stimulus through consumption, particularly via the “Khon La Khrueng Plus” co-payment scheme.</li></ul>

The SET Index is expected to trade sideways with an upward bias today, though momentum may be softer than in the previous session.The US: US equities edged higher (S&amp;P500 +0.06%, NASDAQ +0.39%), with gains led by technology stocks.Thailand: Finance Minister Ekniti Nitithanprapas reaffirmed that the government will accelerate economic stimulus through consumption, particularly via the “Khon La Khrueng Plus” co-payment scheme.

Krungthai XSpring Zoom Eng. October 3, 2025

<ul><li>The SET surged as DELTA extended its rally, supported by strong buying in blue-chip sectors including energy, banking, commerce, transportation, finance, and petroleum.</li><li>The index rebounded without notable pullbacks. Strong buying in large-cap stocks supported the move, which is viewed as a positive signal of a bullish outlook.</li><li>Therefore, we recommend selective speculation, as the index resumes its upward path toward the 1,300 area, with blue-chip stocks likely to take the lead.</li></ul>

The SET surged as DELTA extended its rally, supported by strong buying in blue-chip sectors including energy, banking, commerce, transportation, finance, and petroleum.The index rebounded without notable pullbacks. Strong buying in large-cap stocks supported the move, which is viewed as a positive signal of a bullish outlook.Therefore, we recommend selective speculation, as the index resumes its upward path toward the 1,300 area, with blue-chip stocks likely to take the lead.

Krungthai XSpring Technical Eng. October 3, 2025

<ul><li>Although concerns over the US government shutdown pressured the market and triggered sell-offs in energy, banking, finance, and commerce stocks, clarity on the “Khon La Khrueng” co-payment scheme, strong gains in DELTA and AOT, and renewed foreign investor buying helped the SET edge higher.</li><li>The index’s rebound still lacks conviction, as it relied heavily on DELTA in the previous session.</li><li>We maintain our buy-on-dips recommendation, as we expect the index to eventually rebound given its quick attempts to bounce back.</li></ul>

Although concerns over the US government shutdown pressured the market and triggered sell-offs in energy, banking, finance, and commerce stocks, clarity on the “Khon La Khrueng” co-payment scheme, strong gains in DELTA and AOT, and renewed foreign investor buying helped the SET edge higher.The index’s rebound still lacks conviction, as it relied heavily on DELTA in the previous session.We maintain our buy-on-dips recommendation, as we expect the index to eventually rebound given its quick attempts to bounce back.

Krungthai XSpring Technical Eng. October 2, 2025

<ul><li>The SET Index is expected to trade sideways up today, with the resistance at 1,284/1,300 and the support at 1,268/1,250.</li><li>Thailand’s S&amp;P Global Manufacturing PMI rose to 54.6 in September, the highest in 28 months and above expectations of 52.4.</li><li>The weaker-than-expected data lifted the probability of a Fed rate cut at the October meeting to 99.4% (from 96.2% the previous day), according to the FedWatch Tool.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,284/1,300 and the support at 1,268/1,250.Thailand’s S&amp;P Global Manufacturing PMI rose to 54.6 in September, the highest in 28 months and above expectations of 52.4.The weaker-than-expected data lifted the probability of a Fed rate cut at the October meeting to 99.4% (from 96.2% the previous day), according to the FedWatch Tool.

Krungthai XSpring Zoom Eng. October 2, 2025

<ul><li>The SET fell sharply on Monday as foreign investors remained net sellers and heavy selling persisted, while the market lacked fresh positive catalysts beyond expectations for government stimulus measures.</li><li>The index plunged sharply, forming a large black candlestick that engulfed the prior white candlestick.</li><li>We maintain our buy-on-weakness recommendation, as the index has fallen sharply and is likely to consolidate sideways while awaiting new catalysts.</li></ul>

The SET fell sharply on Monday as foreign investors remained net sellers and heavy selling persisted, while the market lacked fresh positive catalysts beyond expectations for government stimulus measures.The index plunged sharply, forming a large black candlestick that engulfed the prior white candlestick.We maintain our buy-on-weakness recommendation, as the index has fallen sharply and is likely to consolidate sideways while awaiting new catalysts.

Krungthai XSpring Technical Eng. October 1, 2025

Thailand

B.Grimm Power Public Company Limited develops, finances, constructs, and operates green-field power plants in Thailand and internationally. The company generates and distributes electricity to government sectors and industrial users, utilizing a diverse energy mix including gas-fired, solar, hydro, and wind power. It also provides investment holding, maintenance, and operating services for power plants. Headquartered in Bangkok, Thailand, the company was established in 1993 as the energy arm of the B.Grimm Group, which was founded in 1878.

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B.Grimm Power (BGRIM TB)

Krungthai XSpring Zoom Eng. October 3, 2025

The SET Index is expected to trade sideways with an upward bias today, though momentum may be softer than in the previous session.

Krungthai XSpring

Krungthai XSpring Technical Eng. October 3, 2025

The SET surged as DELTA extended its rally, supported by strong buying in blue-chip sectors including energy, banking, commerce, transportation,...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 2, 2025

We maintain our buy-on-dips recommendation, as we expect the index to eventually rebound given its quick attempts to bounce back.

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 2, 2025

The weaker-than-expected data lifted the probability of a Fed rate cut at the October meeting to 99.4% (from 96.2% the previous day), according to...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 1, 2025

We maintain our buy-on-weakness recommendation, as the index has fallen sharply and is likely to consolidate sideways while awaiting new catalysts.

Krungthai XSpring

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