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>Although the SET lacked clear catalysts after 3Q25 GDP grew only 1.2%, the index quickly stabilized and rebounded to the 1,280 level, supported by renewed buying in DELTA, ADVANC, CPN, banking, and energy stocks.</li><li>The index held above the 1,266 support level, backed by a bullish candlestick signal and sustained interest in large-cap stocks, indicating potential for a quick rebound.</li><li>We therefore recommend buying on weakness and selling on rebounds.</li></ul>

Although the SET lacked clear catalysts after 3Q25 GDP grew only 1.2%, the index quickly stabilized and rebounded to the 1,280 level, supported by renewed buying in DELTA, ADVANC, CPN, banking, and energy stocks.The index held above the 1,266 support level, backed by a bullish candlestick signal and sustained interest in large-cap stocks, indicating potential for a quick rebound.We therefore recommend buying on weakness and selling on rebounds.

Krungthai XSpring Technical Eng. November 18, 2025

<ul><li>The SET came under pressure and retreated in line with global markets, weighed down by concerns that the Fed may delay rate cuts at next month’s meeting.</li><li>Although the uptrend has ended and the index is weakening, the broader trend remains sideways.</li><li>We therefore recommend gradually buying near the support level.</li></ul>

The SET came under pressure and retreated in line with global markets, weighed down by concerns that the Fed may delay rate cuts at next month’s meeting.Although the uptrend has ended and the index is weakening, the broader trend remains sideways.We therefore recommend gradually buying near the support level.

Krungthai XSpring Technical Eng. November 17, 2025

<ul><li>SET Index is expected to trade sideway down today, with the support at 1,283/1,268 and the resistance at 1,300/1,313.</li><li>The sharp US market sell-off—particularly in the technology sector—amid rising uncertainty over interest rate cuts is likely to pressure Asian and Thai equities today, especially electronics stocks.</li><li>We view the continued progress on Phase 2 as a positive signal and recommend gradually accumulating beneficiary stocks (CPALL, CPAXT, TFG).</li></ul>

SET Index is expected to trade sideway down today, with the support at 1,283/1,268 and the resistance at 1,300/1,313.The sharp US market sell-off—particularly in the technology sector—amid rising uncertainty over interest rate cuts is likely to pressure Asian and Thai equities today, especially electronics stocks.We view the continued progress on Phase 2 as a positive signal and recommend gradually accumulating beneficiary stocks (CPALL, CPAXT, TFG).

Krungthai XSpring Zoom Eng. November 14, 2025

<ul><li>The SET Index is expected to trade sideways today, with the support levels at 1,313/1,300 points and the resistance at 1,322/1,332 points.</li><li>For low-risk investors, we recommend parking funds in defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC).</li><li>We expect live swine prices to continue rising and stabilize within the Bt60–65/kg range, which is a positive signal for the profit margins of swine producers (TFG, BTG, CPF).</li></ul>

The SET Index is expected to trade sideways today, with the support levels at 1,313/1,300 points and the resistance at 1,322/1,332 points.For low-risk investors, we recommend parking funds in defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC).We expect live swine prices to continue rising and stabilize within the Bt60–65/kg range, which is a positive signal for the profit margins of swine producers (TFG, BTG, CPF).

Krungthai XSpring Zoom Eng. November 7, 2025

<ul><li>The SET Index is expected to trade sideways down today, with the support at 1,284/1,266 and the resistance at 1,300/1,313.</li><li>Domestically, sentiment remains slightly positive, supported by Thailand’s low inflation, which keeps real yields high and helps limit potential foreign fund outflows.</li><li>The Tourism Authority of Thailand (TAT) reported 2.57mn tourist arrivals in October, down 4% YoY (vs –11% in September), marking a slower contraction as Chinese visitors fell 22% YoY, compared with the average decline of 42% YoY during February–September.</li></ul>

The SET Index is expected to trade sideways down today, with the support at 1,284/1,266 and the resistance at 1,300/1,313.Domestically, sentiment remains slightly positive, supported by Thailand’s low inflation, which keeps real yields high and helps limit potential foreign fund outflows.The Tourism Authority of Thailand (TAT) reported 2.57mn tourist arrivals in October, down 4% YoY (vs –11% in September), marking a slower contraction as Chinese visitors fell 22% YoY, compared with the average decline of 42% YoY during February–September.

Krungthai XSpring Zoom Eng. November 5, 2025

Thailand

Bangkok Chain Hospital Public Company Limited operates a chain of hospitals in Thailand serving both the cash and managed care markets.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Bangkok Chain Hospital (BCH TB)

Krungthai XSpring Technical Eng. November 18, 2025

The index held above the 1,266 support level, backed by a bullish candlestick signal and sustained interest in large-cap stocks, indicating...

Krungthai XSpring

Krungthai XSpring Technical Eng. November 17, 2025

The SET came under pressure and retreated in line with global markets, weighed down by concerns that the Fed may delay rate cuts at next month’s...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 14, 2025

We view the continued progress on Phase 2 as a positive signal and recommend gradually accumulating beneficiary stocks (CPALL, CPAXT, TFG).

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 7, 2025

The SET Index is expected to trade sideways today, with the support levels at 1,313/1,300 points and the resistance at 1,322/1,332 points.

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 5, 2025

Domestically, sentiment remains slightly positive, supported by Thailand’s low inflation, which keeps real yields high and helps limit potential...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)