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’s upward momentum was disrupted by political uncertainties and the market’s wait-and-see stance ahead of the Fed’s Jackson Hole meeting.</li><li>Although the index retreated, no clear bearish signals have emerged.</li><li>We recommend buying on dips, selling on strength, as we still expect the index to be able to have a swift rebound.</li></ul>

The SET’s upward momentum was disrupted by political uncertainties and the market’s wait-and-see stance ahead of the Fed’s Jackson Hole meeting.Although the index retreated, no clear bearish signals have emerged.We recommend buying on dips, selling on strength, as we still expect the index to be able to have a swift rebound.

Krungthai XSpring Technical Eng. August 22, 2025

<ul><li>The SET Index today is expected to move with volatility.</li><li>The trend of petrochemical industry production cuts has gained momentum after Reuters reported that the South Korean government ordered petrochemical companies to reduce Naphtha production by around 2.7-3.7mn tons per year.</li><li>Progress on the establishment of NaCGA is expected to enable financial institutions to extend more credit to SMEs and households.</li></ul>

The SET Index today is expected to move with volatility.The trend of petrochemical industry production cuts has gained momentum after Reuters reported that the South Korean government ordered petrochemical companies to reduce Naphtha production by around 2.7-3.7mn tons per year.Progress on the establishment of NaCGA is expected to enable financial institutions to extend more credit to SMEs and households.

Krungthai XSpring Zoom Eng. August 21, 2025

<ul><li>The SET opened in a narrow range as THAI and DELTA extended their declines, but buying interest gradually picked up.</li><li>The index's rebound, accompanied by a bullish engulfing signal, suggests a potential trend reversal with further upside momentum.</li><li>We recommend buying on dips, selling on strength, as the market awaits clearer signals regarding political issues and the upcoming Fed meeting this week.</li></ul>

The SET opened in a narrow range as THAI and DELTA extended their declines, but buying interest gradually picked up.The index's rebound, accompanied by a bullish engulfing signal, suggests a potential trend reversal with further upside momentum.We recommend buying on dips, selling on strength, as the market awaits clearer signals regarding political issues and the upcoming Fed meeting this week.

Krungthai XSpring Technical Eng. August 21, 2025

<ul><li>The SET Index today is expected to weaken, with the support at 1,230/1,222 points (25-day EMA) and the resistance at 1,247 points (10-day EMA)/1,255 points.</li><li>Foreign fund outflows continue in the short term.</li><li>Semiconductor producers led the technology sector lower, down -1.88%.</li></ul>

The SET Index today is expected to weaken, with the support at 1,230/1,222 points (25-day EMA) and the resistance at 1,247 points (10-day EMA)/1,255 points.Foreign fund outflows continue in the short term.Semiconductor producers led the technology sector lower, down -1.88%.

Krungthai XSpring Zoom Eng. August 20, 2025

<ul><li>The market faced selling pressure from both domestic funds and foreign investors for the fourth straight day, as investors awaited the Fed meeting results and monitored political developments.</li><li>Earlier, there had been expectations for the index to move toward 1,300 points.</li><li>We therefore maintain our recommendation to buy at the support while closely monitoring the movements of THAI and DELTA.</li></ul>

The market faced selling pressure from both domestic funds and foreign investors for the fourth straight day, as investors awaited the Fed meeting results and monitored political developments.Earlier, there had been expectations for the index to move toward 1,300 points.We therefore maintain our recommendation to buy at the support while closely monitoring the movements of THAI and DELTA.

Krungthai XSpring Technical Eng. August 20, 2025

Thailand

Synnex Thailand PCL distributes computer products.  The Company distributes computer components and peripherals, servers and storage devices, security products, computer software, and consumables.

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Synnex Thailand (SYNEX TB)

Krungthai XSpring Technical Eng. August 22, 2025

The SET’s upward momentum was disrupted by political uncertainties and the market’s wait-and-see stance ahead of the Fed’s Jackson Hole meeting.

Krungthai XSpring

Krungthai XSpring Zoom Eng. August 21, 2025

Progress on the establishment of NaCGA is expected to enable financial institutions to extend more credit to SMEs and households.

Krungthai XSpring

Krungthai XSpring Technical Eng. August 21, 2025

We recommend buying on dips, selling on strength, as the market awaits clearer signals regarding political issues and the upcoming Fed meeting this...

Krungthai XSpring

Krungthai XSpring Zoom Eng. August 20, 2025

The SET Index today is expected to weaken, with the support at 1,230/1,222 points (25-day EMA) and the resistance at 1,247 points (10-day EMA)...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 20, 2025

The market faced selling pressure from both domestic funds and foreign investors for the fourth straight day, as investors awaited the Fed meeting...

Krungthai XSpring

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