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 US Supreme Court has ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the president the authority to impose import tariffs.</li><li>US 4Q25 GDP expanded by 1.4% QoQ SAAR (+2.2% YoY), below the +3% QoQ SAAR consensus estimate and slowing from +4.4% in 3Q25.</li><li>The US has revoked its reciprocal tariffs on all countries (previously around 15–20% for Asia) and replaced them with a uniform 15% tariff under Section 122.</li></ul>

The US Supreme Court has ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the president the authority to impose import tariffs.US 4Q25 GDP expanded by 1.4% QoQ SAAR (+2.2% YoY), below the +3% QoQ SAAR consensus estimate and slowing from +4.4% in 3Q25.The US has revoked its reciprocal tariffs on all countries (previously around 15–20% for Asia) and replaced them with a uniform 15% tariff under Section 122.

Krungthai XSpring Zoom Eng. February 23, 2026

<ul><li>The SET surged as fund inflows extended for the fourth consecutive day (with only two net selling sessions so far this month).</li><li>The index has surged 63.5 points over the past four sessions and 168.29 points so far this month, pushing it into overbought territory.</li><li>Therefore, we recommend buying on weakness and selling into strength.</li></ul>

The SET surged as fund inflows extended for the fourth consecutive day (with only two net selling sessions so far this month).The index has surged 63.5 points over the past four sessions and 168.29 points so far this month, pushing it into overbought territory.Therefore, we recommend buying on weakness and selling into strength.

Krungthai XSpring Technical Eng. February 20, 2026

<ul><li>However, the SET maintained its positive momentum, supported by continued fund inflows, 4Q25 earnings results, and political developments.</li><li>The index was volatile, briefly slipping into negative territory during intraday trading.</li><li>Nonetheless, we recommend buying on weakness and selling on strength, as the index still has room to advance—particularly while fund inflows persist.</li></ul>

However, the SET maintained its positive momentum, supported by continued fund inflows, 4Q25 earnings results, and political developments.The index was volatile, briefly slipping into negative territory during intraday trading.Nonetheless, we recommend buying on weakness and selling on strength, as the index still has room to advance—particularly while fund inflows persist.

Krungthai XSpring Technical Eng. February 19, 2026

<ul><li>Today’s SET Index is expected to extend its gains, but fund flow momentum should be monitored closely.</li><li>The Fed Minutes from the January meeting signaled a slightly more hawkish tone overall.</li><li>The Election Commission (EC) has now reported the results for all 400 constituencies.</li></ul>

Today’s SET Index is expected to extend its gains, but fund flow momentum should be monitored closely.The Fed Minutes from the January meeting signaled a slightly more hawkish tone overall.The Election Commission (EC) has now reported the results for all 400 constituencies.

Krungthai XSpring Zoom Eng. February 19, 2026

<ul><li>Today’s dominant ideas: The SET Index is expected to maintain upward momentum today, although gains may be capped.</li><li>There are continued signs of foreign direct investment (FDI) inflows into Thailand.</li><li>The SET Index closed yesterday at 1,459.68 points (+1.5%), supported by continued fund inflows, with foreign investors recording net buying of Bt3,305mn.</li></ul>

Today’s dominant ideas: The SET Index is expected to maintain upward momentum today, although gains may be capped.There are continued signs of foreign direct investment (FDI) inflows into Thailand.The SET Index closed yesterday at 1,459.68 points (+1.5%), supported by continued fund inflows, with foreign investors recording net buying of Bt3,305mn.

Krungthai XSpring Zoom Eng. February 18, 2026

Thailand

Advanced Info Service is Thailand's largest telecommunications company, providing mobile network operations, internet connectivity, and digital television services. The company offers cellular telephone system networks, fixed-broadband services, and sells mobile phones and related equipment. It was founded in 1986 and is headquartered in Bangkok, Thailand.

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Advanced Info Service (ADVANC TB)

Krungthai XSpring Zoom Eng. February 23, 2026

The US Supreme Court has ruled that the International Emergency Economic Powers Act (IEEPA) does not grant the president the authority to impose...

Krungthai XSpring

Krungthai XSpring Technical Eng. February 20, 2026

The SET surged as fund inflows extended for the fourth consecutive day (with only two net selling sessions so far this month).

Krungthai XSpring

Krungthai XSpring Technical Eng. February 19, 2026

However, the SET maintained its positive momentum, supported by continued fund inflows, 4Q25 earnings results, and political developments.

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 19, 2026

Today’s SET Index is expected to extend its gains, but fund flow momentum should be monitored closely.The Fed Minutes from the January meeting...

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 18, 2026

The SET Index closed yesterday at 1,459.68 points (+1.5%), supported by continued fund inflows, with foreign investors recording net buying of...

Krungthai XSpring

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