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 market was pressured by a rebound in oil prices and uncertainty surrounding the US stance.</li><li>Domestically, continued government efforts to ease the cost of living remain a positive signal.</li><li>We maintain a trading-oriented strategy.</li></ul>

The market was pressured by a rebound in oil prices and uncertainty surrounding the US stance.Domestically, continued government efforts to ease the cost of living remain a positive signal.We maintain a trading-oriented strategy.

Krungthai XSpring Zoom Eng. March 30, 2026

<ul><li>The US president postponed the attack on Iran’s energy infrastructure for five days, although Iran stated that there had been no negotiations with the US.</li><li>The index rebounded from support at 1,400, reinforcing the 1,400–1,386 support zone.</li><li>We recommend buying on weakness, as the index is likely to remain volatile while Middle East developments continue to influence market movements.</li></ul>

The US president postponed the attack on Iran’s energy infrastructure for five days, although Iran stated that there had been no negotiations with the US.The index rebounded from support at 1,400, reinforcing the 1,400–1,386 support zone.We recommend buying on weakness, as the index is likely to remain volatile while Middle East developments continue to influence market movements.

Krungthai XSpring Technical Eng. March 25, 2026

<ul><li>Amid escalating threats from both the US and Iran targeting energy infrastructure, surging crude oil and gas prices weighed heavily on Asian markets, with the SET Index declining sharply.</li><li>The index fell below 1,400 but remains within the 1,400–1,386 support zone, leaving room for a potential rebound.</li><li>Therefore, we recommend buying on weakness, as the current decline could trigger a technical rebound.</li></ul>

Amid escalating threats from both the US and Iran targeting energy infrastructure, surging crude oil and gas prices weighed heavily on Asian markets, with the SET Index declining sharply.The index fell below 1,400 but remains within the 1,400–1,386 support zone, leaving room for a potential rebound.Therefore, we recommend buying on weakness, as the current decline could trigger a technical rebound.

Krungthai XSpring Technical Eng. March 24, 2026

<ul><li>The global economy remains pressured by war-driven oil price increases, keeping US bond yields elevated and attracting fund flows back to the US, which limits the SET Index’s short-term upside.</li><li>However, the resulting “double squeeze” cost environment in Japan is accelerating FDI relocation to Thailand, reinforcing its role as a relative safe haven.</li><li>The crisis between the two major powers is accelerating FDI inflows into Thailand, upgrading the country from a secondary manufacturing base to an “economic safe haven.”</li></ul>

The global economy remains pressured by war-driven oil price increases, keeping US bond yields elevated and attracting fund flows back to the US, which limits the SET Index’s short-term upside.However, the resulting “double squeeze” cost environment in Japan is accelerating FDI relocation to Thailand, reinforcing its role as a relative safe haven.The crisis between the two major powers is accelerating FDI inflows into Thailand, upgrading the country from a secondary manufacturing base to an “economic safe haven.”

KTX AHEAD: Geopolitical Risk May Accelerate A Major Production Relocation Wave.

<ul><li>The SET Index is expected to face limited pressure today, with support at 1,431/1,418 points and resistance at 1,450/1,467 points.</li><li>We expect the Thai equity market to place greater emphasis on domestic political developments, particularly the progress in the prime minister selection process.</li><li>KTX maintains our view that GULF is the top pick in the power sector, supported by its low-risk power portfolio (94% of capacity sold to EGAT, with fuel cost pass-through).</li></ul>

The SET Index is expected to face limited pressure today, with support at 1,431/1,418 points and resistance at 1,450/1,467 points.We expect the Thai equity market to place greater emphasis on domestic political developments, particularly the progress in the prime minister selection process.KTX maintains our view that GULF is the top pick in the power sector, supported by its low-risk power portfolio (94% of capacity sold to EGAT, with fuel cost pass-through).

Krungthai XSpring Zoom Eng. March 19, 2026

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. March 30, 2026

The market was pressured by a rebound in oil prices and uncertainty surrounding the US stance.Domestically, continued government efforts to ease...

Krungthai XSpring

Krungthai XSpring Technical Eng. March 25, 2026

The US president postponed the attack on Iran’s energy infrastructure for five days, although Iran stated that there had been no negotiations with...

Krungthai XSpring

Krungthai XSpring Technical Eng. March 24, 2026

Amid escalating threats from both the US and Iran targeting energy infrastructure, surging crude oil and gas prices weighed heavily on Asian...

Krungthai XSpring

KTX AHEAD: Geopolitical Risk May Accelerate A Major Production Relocation Wave.

The crisis between the two major powers is accelerating FDI inflows into Thailand, upgrading the country from a secondary manufacturing base to an...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 19, 2026

The SET Index is expected to face limited pressure today, with support at 1,431/1,418 points and resistance at 1,450/1,467 points.

Krungthai XSpring

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