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 SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.</li><li>Meanwhile, Asian markets traded mixed as investors awaited the outcome of China-US trade negotiations.</li><li>Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.</li></ul>

The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.Meanwhile, Asian markets traded mixed as investors awaited the outcome of China-US trade negotiations.Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.

<ul><li>The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.</li><li>Large-cap stocks took the lead, and the index showed a steady upward pattern.</li><li>The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. </li></ul>

The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.Large-cap stocks took the lead, and the index showed a steady upward pattern.The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. 

<ul><li>Technically, the SET Index is expected to move sideways, with the support levels at 1,170/1,165 points and the resistance at 1,182 (10-day EMA)/1,195 points.</li><li>In the medium term, the index remains in a downtrend following a zig-zag down pattern as it searches for the bottom within the range of 1,100-1,506 points.</li><li>In the short term, the index remains in a downtrend, continuously making new lows with intermittent technical rebounds.</li></ul>

Technically, the SET Index is expected to move sideways, with the support levels at 1,170/1,165 points and the resistance at 1,182 (10-day EMA)/1,195 points.In the medium term, the index remains in a downtrend following a zig-zag down pattern as it searches for the bottom within the range of 1,100-1,506 points.In the short term, the index remains in a downtrend, continuously making new lows with intermittent technical rebounds.

KTX Zoom: US FOMC Meeting & BoJ Meeting - March 19, 2025

<ul><li>The SET Index is expected to move sideways, with the support levels at 1,165/1,158 points and the resistance levels at 1,182 (10-day EMA)/1,195 points.</li><li>The mid-term outlook remains in a downtrend with a zig-zag down pattern, with the index searching for the bottom within the 1,100-1,506-point range.</li><li>In the short term, the market continues in a downward trend, forming new lows while experiencing technical rebounds.</li></ul>

The SET Index is expected to move sideways, with the support levels at 1,165/1,158 points and the resistance levels at 1,182 (10-day EMA)/1,195 points.The mid-term outlook remains in a downtrend with a zig-zag down pattern, with the index searching for the bottom within the 1,100-1,506-point range.In the short term, the market continues in a downward trend, forming new lows while experiencing technical rebounds.

KTX Zoom - EU Economic Sentiment & US Housing Starts: MARCH 18, 2025

<ul><li>Technically, the SET Index is expected to fluctuate within the support range of 1,173/1,160 points and the resistance at 1,185/1,195 points.</li><li>Key events to watch include the Fed meeting on March 18-19, where the consensus expects no change in the policy rate.</li><li>Market participants should also monitor the Fed's statements for insights into the future interest rate direction and the US economic outlook, along with expectations for China's economic stimulus measures. </li></ul>

Technically, the SET Index is expected to fluctuate within the support range of 1,173/1,160 points and the resistance at 1,185/1,195 points.Key events to watch include the Fed meeting on March 18-19, where the consensus expects no change in the policy rate.Market participants should also monitor the Fed's statements for insights into the future interest rate direction and the US economic outlook, along with expectations for China's economic stimulus measures. 

Thailand

Airports of Thailand Public Company Ltd. operates the Bangkok International Airport (Don Muang) and the New Bangkok International Airport (Suvarnabhumi).. The Company also operates provincial airports in Chiang Mai, Chiang Rai, Hat Yai, and Phuket.

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Airports of Thailand (AOT TB)

Technical Analysis - MAY 9, 2025

Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.

Krungthai XSpring

Technical Analysis - MAY 8, 2025

The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected.

Krungthai XSpring

KTX Zoom: US FOMC Meeting & BoJ Meeting - March 19, 2025

Technically, the SET Index is expected to move sideways, with the support levels at 1,170/1,165 points and the resistance at 1,182 (10-day EMA)...

Krungthai XSpring

KTX Zoom - EU Economic Sentiment & US Housing Starts: MARCH 18, 2025

The SET Index is expected to move sideways, with the support levels at 1,165/1,158 points and the resistance levels at 1,182 (10-day EMA)/1,195...

Krungthai XSpring

KTX Zoom: MARCH 17, 2025

Technically, the SET Index is expected to fluctuate within the support range of 1,173/1,160 points and the resistance at 1,185/1,195 points.

Krungthai XSpring

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