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 launched retaliatory strikes in southern Iran, citing self-defense after an Iranian drone reportedly shot down a US military helicopter.</li><li>The BOI has approved more than Bt623bn of investment projects in 5M26, with the majority coming from US and Chinese hyperscalers.</li><li>Bank Indonesia unexpectedly raised its policy rate by 25bps to support the rupiah.</li></ul>

The US launched retaliatory strikes in southern Iran, citing self-defense after an Iranian drone reportedly shot down a US military helicopter.The BOI has approved more than Bt623bn of investment projects in 5M26, with the majority coming from US and Chinese hyperscalers.Bank Indonesia unexpectedly raised its policy rate by 25bps to support the rupiah.

Krungthai XSpring Zoom Eng. June 10, 2026

<ul><li>The USTR has proposed additional tariffs of 10–12.5% under Section 301 on 60 trading partners that have failed to enforce bans on imports produced with forced labor, including Thailand.</li><li>Foreign tourist arrivals in May increased 3.5% YoY to 2.35mn, providing a positive signal for the tourism sector.</li><li>The BOT has announced fee reductions covering 19 transaction items across four categories: deposit accounts, electronic cards, payment transactions, and SME lending.</li></ul>

The USTR has proposed additional tariffs of 10–12.5% under Section 301 on 60 trading partners that have failed to enforce bans on imports produced with forced labor, including Thailand.Foreign tourist arrivals in May increased 3.5% YoY to 2.35mn, providing a positive signal for the tourism sector.The BOT has announced fee reductions covering 19 transaction items across four categories: deposit accounts, electronic cards, payment transactions, and SME lending.

<ul><li>The SET Index surged more strongly than expected as buying interest flowed into large-cap stocks, particularly from foreign investors.</li><li>The uptrend remains intact, as reflected by the higher high–higher low pattern and positive signals from the RSI, MACD, and Stochastic indicators.</li><li>We recommend buying on dips and selling into strength, as volatility is likely to increase and the market is still awaiting a clearer positive catalyst to sustain the rally.</li></ul>

The SET Index surged more strongly than expected as buying interest flowed into large-cap stocks, particularly from foreign investors.The uptrend remains intact, as reflected by the higher high–higher low pattern and positive signals from the RSI, MACD, and Stochastic indicators.We recommend buying on dips and selling into strength, as volatility is likely to increase and the market is still awaiting a clearer positive catalyst to sustain the rally.

Krungthai XSpring Technical Eng. June 4, 2026

<ul><li>The Thai equity market appears to be approaching an inflection point, marked by a meaningful shift in underlying fundamentals.</li><li>Rising input costs and shrinking profits push US firms toward workforce reductions.</li><li>The US labor market is showing increasingly clear signs of entering a contractionary phase.</li></ul>

The Thai equity market appears to be approaching an inflection point, marked by a meaningful shift in underlying fundamentals.Rising input costs and shrinking profits push US firms toward workforce reductions.The US labor market is showing increasingly clear signs of entering a contractionary phase.

KTX AHEAD: US Employment Cycle Remains Concerning: Higher Input Costs → Weaker Demand...

<ul><li>Middle East tensions re-escalate after Iran announced the suspension of negotiations with the US and signaled plans to close the Strait of Hormuz in response to Israel’s continued military operations in Lebanon.</li><li>The “Thai Chuay Thai Plus” program officially launched yesterday (June 1), generating more than Bt1bn in spending from over 5mn participants on its first day.</li><li>Thailand’s economy slowed in April compared with the previous month, according to the BOT, as Middle East tensions weighed on tourism and private consumption.</li></ul>

Middle East tensions re-escalate after Iran announced the suspension of negotiations with the US and signaled plans to close the Strait of Hormuz in response to Israel’s continued military operations in Lebanon.The “Thai Chuay Thai Plus” program officially launched yesterday (June 1), generating more than Bt1bn in spending from over 5mn participants on its first day.Thailand’s economy slowed in April compared with the previous month, according to the BOT, as Middle East tensions weighed on tourism and private consumption.

Thailand

Advanced Info Service is Thailand's largest telecommunications and technology company, providing mobile phone services, including prepaid, postpaid, and 5G network services, along with mobile devices. The company also offers high-speed home broadband services under the AIS Fibre and 3BB brands, as well as digital services such as cloud solutions, IoT, digital payments, and enterprise solutions. Headquartered in Bangkok, Thailand, the company was founded in 1986.

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Advanced Info Service (ADVANC-R TB)

Krungthai XSpring Zoom Eng. June 10, 2026

The US launched retaliatory strikes in southern Iran, citing self-defense after an Iranian drone reportedly shot down a US military helicopter.

Krungthai XSpring

Krungthai XSpring Zoom Eng. June 4, 2026

The USTR has proposed additional tariffs of 10–12.5% under Section 301 on 60 trading partners that have failed to enforce bans on imports produced...

Krungthai XSpring

Krungthai XSpring Technical Eng. June 4, 2026

The SET Index surged more strongly than expected as buying interest flowed into large-cap stocks, particularly from foreign investors.

Krungthai XSpring

KTX AHEAD: US Employment Cycle Remains Concerning: Higher Input Costs → Weaker Demand...

The Thai equity market appears to be approaching an inflection point, marked by a meaningful shift in underlying fundamentals.

Krungthai XSpring

Krungthai XSpring Zoom Eng. June 2, 2026

Thailand’s economy slowed in April compared with the previous month, according to the BOT, as Middle East tensions weighed on tourism and private...

Krungthai XSpring

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