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 today, with the support at 1,266/1,250 points and the resistance at 1,278/1,287 points.</li><li>The US: US equities extended their decline (S&amp;P 500 –0.83%, NASDAQ –1.21%), driven by a global shift into risk-off mode ahead of the October Fed minutes.</li><li>Japan: Japan’s 20-year bond yield climbed to 2.77%, the highest since 1999, while the yen weakened past 155 yen/USD, marking an 11-month low.</li></ul>

The SET Index is expected to trade sideways today, with the support at 1,266/1,250 points and the resistance at 1,278/1,287 points.The US: US equities extended their decline (S&amp;P 500 –0.83%, NASDAQ –1.21%), driven by a global shift into risk-off mode ahead of the October Fed minutes.Japan: Japan’s 20-year bond yield climbed to 2.77%, the highest since 1999, while the yen weakened past 155 yen/USD, marking an 11-month low.

Krungthai XSpring Zoom Eng. November 19, 2025

<ul><li>The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and domestic funds turned net sellers.</li><li>The index declined after a bearish signal from a gravestone doji, retesting the support at 1,313–1,300 points.</li><li>Therefore, we recommend buying on weakness, as we expect the index to experience only short-term consolidation while maintaining a positive price pattern.</li></ul>

The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and domestic funds turned net sellers.The index declined after a bearish signal from a gravestone doji, retesting the support at 1,313–1,300 points.Therefore, we recommend buying on weakness, as we expect the index to experience only short-term consolidation while maintaining a positive price pattern.

Krungthai XSpring Technical Eng. October 29, 2025

<ul><li>The SET opened sharply higher, supported by positive sentiment from recent foreign investor buying.</li><li>The index continued to post new highs, suggesting a likely move toward the key resistance at 1,350 points.</li><li>Nevertheless, we recommend selective speculation, as the index is expected to continue rebounding.</li></ul>

The SET opened sharply higher, supported by positive sentiment from recent foreign investor buying.The index continued to post new highs, suggesting a likely move toward the key resistance at 1,350 points.Nevertheless, we recommend selective speculation, as the index is expected to continue rebounding.

Krungthai XSpring Technical Eng. October 28, 2025

<ul><li>The “Khon La Khrueng Plus” scheme, a short-term economic stimulus measure the government aims to roll out quickly to support 4Q25E economic growth, will directly benefit small retailers and restaurants.</li><li>The Cabinet has approved the program with a total budget of Bt44.4bn (in line with expectations), representing 0.24% of GDP.</li><li>The Minister of Finance expects additional stimulus measures to follow, aiming to raise 4Q25E economic growth by at least 1% (compared to an estimated 0.3% without economic stimulus).</li></ul>

The “Khon La Khrueng Plus” scheme, a short-term economic stimulus measure the government aims to roll out quickly to support 4Q25E economic growth, will directly benefit small retailers and restaurants.The Cabinet has approved the program with a total budget of Bt44.4bn (in line with expectations), representing 0.24% of GDP.The Minister of Finance expects additional stimulus measures to follow, aiming to raise 4Q25E economic growth by at least 1% (compared to an estimated 0.3% without economic stimulus).

Special Report: Khon La Khrueng Plus To Boost Year-End Purchasing Power

<ul><li>The SET Index is expected to trade sideways up today, though momentum is likely to moderate.</li><li>The Cabinet has approved the Khon La Khrueng Plus scheme with a total budget of Bt44bn (in line with expectations).</li><li>The MPC meeting will be held today, with the outcome expected around 2:00 p.m. Bloomberg Consensus expects the policy rate to be cut from 1.50% to 1.25%, the lowest level in three years.</li></ul>

The SET Index is expected to trade sideways up today, though momentum is likely to moderate.The Cabinet has approved the Khon La Khrueng Plus scheme with a total budget of Bt44bn (in line with expectations).The MPC meeting will be held today, with the outcome expected around 2:00 p.m. Bloomberg Consensus expects the policy rate to be cut from 1.50% to 1.25%, the lowest level in three years.

Krungthai XSpring Zoom Eng. October 8, 2025

Thailand

Osotspa Public Company Limited produces and distributes non-alcoholic beverages. The Company offers energy drinks and candies. Osotspa also provides personal and health care products, including shampoos, deodorant, soaps, herbal medicines, and creams. Osotspa serves customers in Thailand.

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Osotspa Public Company Limited (OSP TB)

Krungthai XSpring Zoom Eng. November 19, 2025

The SET Index is expected to trade sideways today, with the support at 1,266/1,250 points and the resistance at 1,278/1,287 points.

Krungthai XSpring

Krungthai XSpring Technical Eng. October 29, 2025

The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 28, 2025

The SET opened sharply higher, supported by positive sentiment from recent foreign investor buying.The index continued to post new highs...

Krungthai XSpring

Special Report: Khon La Khrueng Plus To Boost Year-End Purchasing Power

The Minister of Finance expects additional stimulus measures to follow, aiming to raise 4Q25E economic growth by at least 1% (compared to an...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 8, 2025

The MPC meeting will be held today, with the outcome expected around 2:00 p.m. Bloomberg Consensus expects the policy rate to be cut from 1.50% to...

Krungthai XSpring

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