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>Thailand: Thailand’s 4Q25 GDP expanded by 2.5% YoY and 1.9% QoQ, exceeding consensus estimates of +1.3% YoY and +0.6% QoQ.</li><li>Oil: Brent crude rose 1.33% this morning after Iran conducted naval drills in the Strait of Hormuz, amid rising tensions between the US and Iran.</li><li>Fed Minutes: The release of the January FOMC meeting minutes will be closely watched on February 18, particularly for further signals on the interest rate outlook.</li></ul>

Thailand: Thailand’s 4Q25 GDP expanded by 2.5% YoY and 1.9% QoQ, exceeding consensus estimates of +1.3% YoY and +0.6% QoQ.Oil: Brent crude rose 1.33% this morning after Iran conducted naval drills in the Strait of Hormuz, amid rising tensions between the US and Iran.Fed Minutes: The release of the January FOMC meeting minutes will be closely watched on February 18, particularly for further signals on the interest rate outlook.

Krungthai XSpring Zoom Eng. February 17, 2026

<ul><li>Although Asian bourses were mixed, the SET continued to rally and remained in positive territory throughout the day, supported by 4Q25 earnings and strong foreign buying, marking the eighth consecutive day of inflows.</li><li>The index surged sharply, forming a full white candlestick on heavy volume, with indicators trending upward.</li><li>Therefore, we expect the uptrend to continue, but advise caution given the risk of a pullback to ease overbought conditions.</li></ul>

Although Asian bourses were mixed, the SET continued to rally and remained in positive territory throughout the day, supported by 4Q25 earnings and strong foreign buying, marking the eighth consecutive day of inflows.The index surged sharply, forming a full white candlestick on heavy volume, with indicators trending upward.Therefore, we expect the uptrend to continue, but advise caution given the risk of a pullback to ease overbought conditions.

Krungthai XSpring Technical Eng. February 13, 2026

<ul><li>The SET climbed in line with other Asian bourses, supported by perceived political stability, while DELTA, TRUE, GULF and BH posted gains.</li><li>The index is facing pressure from overbought conditions and remains significantly above the 5- and 10-day EMA lines.</li><li>We recommend gradually taking profits and waiting to re-enter on weakness.</li></ul>

The SET climbed in line with other Asian bourses, supported by perceived political stability, while DELTA, TRUE, GULF and BH posted gains.The index is facing pressure from overbought conditions and remains significantly above the 5- and 10-day EMA lines.We recommend gradually taking profits and waiting to re-enter on weakness.

Krungthai XSpring Technical Eng. February 12, 2026

<ul><li>NIKKEI continued its strong rally, while the SET also moved higher.</li><li>The index continued to rebound, forming a sustained recovery pattern and holding above the ½ Fibonacci resistance at 1,406 points.</li><li>Therefore, we see limited upside and a rising risk of a pullback. We recommend gradually taking profits and waiting to re-enter on weakness.</li></ul>

NIKKEI continued its strong rally, while the SET also moved higher.The index continued to rebound, forming a sustained recovery pattern and holding above the ½ Fibonacci resistance at 1,406 points.Therefore, we see limited upside and a rising risk of a pullback. We recommend gradually taking profits and waiting to re-enter on weakness.

Krungthai XSpring Technical Eng. February 11, 2026

<ul><li>The SET surged sharply following the election outcome, moving in line with the Tokyo market.</li><li>A runaway gap has formed on the index, and continuation of the uptrend requires further upside follow-through.</li><li>Therefore, we recommend selective speculation, with close monitoring of large-cap stock movements as a key guide.</li></ul>

The SET surged sharply following the election outcome, moving in line with the Tokyo market.A runaway gap has formed on the index, and continuation of the uptrend requires further upside follow-through.Therefore, we recommend selective speculation, with close monitoring of large-cap stock movements as a key guide.

Krungthai XSpring Technical Eng. February 10, 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 17, 2026

Thailand: Thailand’s 4Q25 GDP expanded by 2.5% YoY and 1.9% QoQ, exceeding consensus estimates of +1.3% YoY and +0.6% QoQ.

Krungthai XSpring

Krungthai XSpring Technical Eng. February 13, 2026

Although Asian bourses were mixed, the SET continued to rally and remained in positive territory throughout the day, supported by 4Q25 earnings and...

Krungthai XSpring

Krungthai XSpring Technical Eng. February 12, 2026

The SET climbed in line with other Asian bourses, supported by perceived political stability, while DELTA, TRUE, GULF and BH posted gains.

Krungthai XSpring

Krungthai XSpring Technical Eng. February 11, 2026

The index continued to rebound, forming a sustained recovery pattern and holding above the ½ Fibonacci resistance at 1,406 points.Therefore, we see...

Krungthai XSpring

Krungthai XSpring Technical Eng. February 10, 2026

A runaway gap has formed on the index, and continuation of the uptrend requires further upside follow-through. Therefore, we recommend selective...

Krungthai XSpring

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