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>Asian stock markets rebounded on expectations of strong earnings from NVIDIA, while buying pressure flowed into large-cap stocks such as DELTA, ADVANC, SCC, PTTGC, KBANK, and GULF.</li><li>Foreign investors turned to net buying for the first time in nine days, as the market was awaiting the outcome of the Fed meeting.</li><li>Therefore, we expect the index to trend upward toward the 1,450-point resistance level, although global oil prices remain a key source of potential volatility.</li></ul>

Asian stock markets rebounded on expectations of strong earnings from NVIDIA, while buying pressure flowed into large-cap stocks such as DELTA, ADVANC, SCC, PTTGC, KBANK, and GULF.Foreign investors turned to net buying for the first time in nine days, as the market was awaiting the outcome of the Fed meeting.Therefore, we expect the index to trend upward toward the 1,450-point resistance level, although global oil prices remain a key source of potential volatility.

Krungthai XSpring Technical Eng. March 18, 2026

<ul><li>The SET Index is expected to rebound today, though upside may remain limited.</li><li>The Thai stock market fell 4.33 points, or -0.31%, yesterday to close at 1,405.02.</li><li>Ms. Suphajee Suthumpun, Minister of Commerce, said following a meeting on measures to address rising energy prices that the ministry will propose cost-of-living relief measures to support the public.</li></ul>

The SET Index is expected to rebound today, though upside may remain limited.The Thai stock market fell 4.33 points, or -0.31%, yesterday to close at 1,405.02.Ms. Suphajee Suthumpun, Minister of Commerce, said following a meeting on measures to address rising energy prices that the ministry will propose cost-of-living relief measures to support the public.

Krungthai XSpring Zoom Eng. March 17, 2026

<ul><li>Asian stock markets were pressured by rising global oil prices as fighting in the Middle East continued.</li><li>The index retreated to the 1,400–1,384 support zone, which does not yet signal a negative shift or a change in the current sideways trend.</li><li>We expect the index to continue trading sideways while awaiting positive catalysts.</li></ul>

Asian stock markets were pressured by rising global oil prices as fighting in the Middle East continued.The index retreated to the 1,400–1,384 support zone, which does not yet signal a negative shift or a change in the current sideways trend.We expect the index to continue trading sideways while awaiting positive catalysts.

Krungthai XSpring Technical Eng. March 17, 2026

<ul><li>Risks from the conflict in Iran remain elevated, but we believe the situation may be approaching its peak and that markets have already priced in much of the negative factors.</li><li>The key turning point will likely be the upcoming FOMC meeting next week.</li><li>We recommend a selective investment strategy, focusing on defensive stocks with relatively low volatility and domestic plays supported mainly by Thailand’s domestic economic growth.</li></ul>

Risks from the conflict in Iran remain elevated, but we believe the situation may be approaching its peak and that markets have already priced in much of the negative factors.The key turning point will likely be the upcoming FOMC meeting next week.We recommend a selective investment strategy, focusing on defensive stocks with relatively low volatility and domestic plays supported mainly by Thailand’s domestic economic growth.

KTX AHEAD: Watch The FOMC Meeting: Will The Fed Prioritize Growth Or Inflation?

<ul><li>The US president stated that the US attacked Iran’s Kharg Island while avoiding the island’s energy infrastructure.</li><li>The SET Index today is expected to move lower, with support at 1,400/1,384 points and resistance at 1,420/1,431 points, following the continued rise in crude oil prices this morning after the US attacked Iran’s Kharg Island and indicated that operations against Iran may continue for some time.</li><li>In summary, we expect negative investment sentiment to continue pressuring Asian and Thai equity markets today, and we believe the market will remain volatile and highly headline-sensitive.</li></ul>

The US president stated that the US attacked Iran’s Kharg Island while avoiding the island’s energy infrastructure.The SET Index today is expected to move lower, with support at 1,400/1,384 points and resistance at 1,420/1,431 points, following the continued rise in crude oil prices this morning after the US attacked Iran’s Kharg Island and indicated that operations against Iran may continue for some time.In summary, we expect negative investment sentiment to continue pressuring Asian and Thai equity markets today, and we believe the market will remain volatile and highly headline-sensitive.

Krungthai XSpring Zoom Eng. March 16, 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 Technical Eng. March 18, 2026

Asian stock markets rebounded on expectations of strong earnings from NVIDIA, while buying pressure flowed into large-cap stocks such as DELTA,...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 17, 2026

The SET Index is expected to rebound today, though upside may remain limited. The Thai stock market fell 4.33 points, or -0.31%, yesterday to close...

Krungthai XSpring

Krungthai XSpring Technical Eng. March 17, 2026

The index retreated to the 1,400–1,384 support zone, which does not yet signal a negative shift or a change in the current sideways trend.

Krungthai XSpring

KTX AHEAD: Watch The FOMC Meeting: Will The Fed Prioritize Growth Or Inflation?

Risks from the conflict in Iran remain elevated, but we believe the situation may be approaching its peak and that markets have already priced in...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 16, 2026

The SET Index today is expected to move lower, with support at 1,400/1,384 points and resistance at 1,420/1,431 points, following the continued...

Krungthai XSpring

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