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.

Cross Asset Strategy

<ul>
<li>SET expected to extend gains, supported by fund inflows ahead of Thailand Focus</li>
<li>The US may further expand buybacks of medium- to long-term Treasuries.</li>
<li>Based on five-year statistics (2021-25), the SET delivered an average return of +0.7% during Thailand Focus week (August 26-28, 2026), with an 80% probability of gains.</li>
</ul>


SET expected to extend gains, supported by fund inflows ahead of Thailand Focus
The US may further expand buybacks of medium- to long-term Treasuries.
Based on five-year statistics (2021-25), the SET delivered an average return of +0.7% during Thailand Focus week (August 26-28, 2026), with an 80% probability of gains.


Krungthai XSpring Zoom Eng. August 24, 2026

Technical Analysis

<ul><li>We view yesterday's decline as short-term profit taking, as selling pressure was relatively limited.</li><li>The absence of a sharp decline suggests that the uptrend remains intact.</li><li>We recommend buying on dips, as the index continues to swing rapidly in both directions amid fast rotation among blue-chip stocks.</li></ul>

We view yesterday's decline as short-term profit taking, as selling pressure was relatively limited.The absence of a sharp decline suggests that the uptrend remains intact.We recommend buying on dips, as the index continues to swing rapidly in both directions amid fast rotation among blue-chip stocks.

Krungthai XSpring Technical Eng. August 19, 2026

<ul><li>Brent crude rose more than 2% amid concerns that tensions in the Middle East could persist, supporting speculative trading in energy stocks (PTTEP, PTTGC, SPRC).</li><li>The NESDC raised its 2026 export growth forecast to 15.1% from 9.6%, supported by strong demand for electronics and advanced-technology products (DELTA, KCE).</li><li>The Transport Ministry is preparing a Bt24bn budget to support the transition of public transport vehicles to EVs (NEX, EA).</li></ul>

Brent crude rose more than 2% amid concerns that tensions in the Middle East could persist, supporting speculative trading in energy stocks (PTTEP, PTTGC, SPRC).The NESDC raised its 2026 export growth forecast to 15.1% from 9.6%, supported by strong demand for electronics and advanced-technology products (DELTA, KCE).The Transport Ministry is preparing a Bt24bn budget to support the transition of public transport vehicles to EVs (NEX, EA).

Krungthai XSpring Zoom Eng. August 18, 2026

<ul><li>The SET Index initially rallied, supported by strong 2Q26 earnings, with AOT, DELTA, KCE, HANA, and BH leading the gains.</li><li>We maintain a constructive outlook, as the index remains in an uptrend, with blue-chip stocks continuing to rotate as market leaders.</li><li>We recommend buying on dips until the index provides a clearer signal of renewed upward momentum, particularly following the sharp swings seen in recent trading sessions.</li></ul>

The SET Index initially rallied, supported by strong 2Q26 earnings, with AOT, DELTA, KCE, HANA, and BH leading the gains.We maintain a constructive outlook, as the index remains in an uptrend, with blue-chip stocks continuing to rotate as market leaders.We recommend buying on dips until the index provides a clearer signal of renewed upward momentum, particularly following the sharp swings seen in recent trading sessions.

Krungthai XSpring Technical Eng. August 17, 2026

<ul><li>DELTA's movement, mixed performance across Asian equity markets, and a fourth consecutive day of net foreign selling continued to influence the SET Index, limiting its gains.</li><li>Although the index's gains remained limited and selling pressure emerged at higher levels, positive sentiment and momentum remained intact.</li><li>We recommend buying on dips, given the index's sharp fluctuations and tendency to swing rapidly in both directions.</li></ul>

DELTA's movement, mixed performance across Asian equity markets, and a fourth consecutive day of net foreign selling continued to influence the SET Index, limiting its gains.Although the index's gains remained limited and selling pressure emerged at higher levels, positive sentiment and momentum remained intact.We recommend buying on dips, given the index's sharp fluctuations and tendency to swing rapidly in both directions.

Krungthai XSpring Technical Eng. August 14, 2026

Canada

Ascot Resources Ltd. operates as junior resource company. The Company develops mineral and resource properties for minerals like sand and gravel, gold, silver, and diamonds. Ascot Resources serves worldwide.

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Ascot Resources (AOT CN)

Krungthai XSpring Zoom Eng. August 24, 2026

SET expected to extend gains, supported by fund inflows ahead of Thailand Focus The US may further expand buybacks of medium- to long-term...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 19, 2026

We view yesterday's decline as short-term profit taking, as selling pressure was relatively limited. The absence of a sharp decline suggests that...

Krungthai XSpring

Krungthai XSpring Zoom Eng. August 18, 2026

Brent crude rose more than 2% amid concerns that tensions in the Middle East could persist, supporting speculative trading in energy stocks...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 17, 2026

The SET Index initially rallied, supported by strong 2Q26 earnings, with AOT, DELTA, KCE, HANA, and BH leading the gains. We maintain a...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 14, 2026

DELTA's movement, mixed performance across Asian equity markets, and a fourth consecutive day of net foreign selling continued to influence the...

Krungthai XSpring

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