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>Technically, the SET Index is expected to move sideways down, with the resistance at 1,535/1,540 points (75-day EMA) and the support at 1,519/1,515 points (25-day EMA).</li><li>The key issue today is the US FOMC meeting.</li><li>We expect the Fed's hawkish stance to push up short-term bond yields and cause the USD to appreciate against the six major currency baskets (in contrast to the past three weeks).</li></ul>

Technically, the SET Index is expected to move sideways down, with the resistance at 1,535/1,540 points (75-day EMA) and the support at 1,519/1,515 points (25-day EMA).The key issue today is the US FOMC meeting.We expect the Fed's hawkish stance to push up short-term bond yields and cause the USD to appreciate against the six major currency baskets (in contrast to the past three weeks).

<ul><li>Technically, the SET Index is expected to gain, with the resistance at 1,540 points (75-day EMA) /1,550 points and the support at 1,527/1,513 points (25-day/10-day EMA).</li><li>There are two key issues today. First, the highlight will be the second vote on the prime minister.</li><li>In addition to political issues, banks' earnings will be another key concern.</li></ul>

Technically, the SET Index is expected to gain, with the resistance at 1,540 points (75-day EMA) /1,550 points and the support at 1,527/1,513 points (25-day/10-day EMA).There are two key issues today. First, the highlight will be the second vote on the prime minister.In addition to political issues, banks' earnings will be another key concern.

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul>
<li>Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026.</li>
<li>FY26 EBITDAI and free cash flow guidance has been reiterated at its recent update, so attention will turn to the quality of the result and initial FY27 guidance.</li>
<li>We expect SPK has continued to lose share in mobile and broadband through 2H26, but mid-single-digit mobile price increases effective 31 July 2026 should offset this in FY27.</li>
</ul>


Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026.
FY26 EBITDAI and free cash flow guidance has been reiterated at its recent update, so attention will turn to the quality of the result and initial FY27 guidance.
We expect SPK has continued to lose share in mobile and broadband through 2H26, but mid-single-digit mobile price increases effective 31 July 2026 should offset this in FY27.


Spark NZ FY26 Preview—Testing the Signal

<ul><li>Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.</li><li>Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.</li><li>Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.</li></ul>

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370 points.Investment strategy: Sell on rallies and wait to buy back when a new breakout signal occurs.Maintain a Buy recommendation for the banking sector, focusing on TTB and KKP, due to their strong potential to outperform in a high bond yield environment.

Krungthai XSpring Zoom Eng. January 27, 2025

<ul><li>Technically, the SET Index is expected to have a chance to rebound, with the resistance at 1,494/1,500 points and the support at 1,482/1,475 points (10-day EMA).</li><li>In the medium term, the index is moving in a sideways pattern within a broader range of 1,273-1,716 points and is currently in the process of testing the resistance.</li><li>In the short term, there is a chance of recovery, despite the index forming a lower high and lower low yesterday.</li></ul>

Technically, the SET Index is expected to have a chance to rebound, with the resistance at 1,494/1,500 points and the support at 1,482/1,475 points (10-day EMA).In the medium term, the index is moving in a sideways pattern within a broader range of 1,273-1,716 points and is currently in the process of testing the resistance.In the short term, there is a chance of recovery, despite the index forming a lower high and lower low yesterday.

United States

AT&T Inc. is a communications holding company. The Company, through its subsidiaries and affiliates, provides local and long-distance phone service, wireless and data communications, Internet access and messaging, IP-based and satellite television, security services, telecommunications equipment, and directory advertising and publishing.

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AT&T (T US)

Today's Dominant Ideas

Technically, the SET Index is expected to move sideways down, with the resistance at 1,535/1,540 points (75-day EMA) and the support at...

Krungthai XSpring

Today's Dominant Ideas

Technically, the SET Index is expected to gain, with the resistance at 1,540 points (75-day EMA) /1,550 points and the support at 1,527/1,513...

Krungthai XSpring

Spark NZ FY26 Preview—Testing the Signal

Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026. FY26 EBITDAI and free cash flow guidance has been reiterated at its recent...

Forsyth Barr

Krungthai XSpring Zoom Eng. January 27, 2025

Technically, the SET Index is expected to move sideways, with the support at 1,344/1,338 points and the resistance at 1,364/1,370...

Krungthai XSpring

3Q24 US Earnings

Technically, the SET Index is expected to have a chance to rebound, with the resistance at 1,494/1,500 points and the support at 1,482/1,475...

Krungthai XSpring

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