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 moved against regional Asian markets, which advanced in line with gains in the Dow Jones, as declines in BH, BDMS, CPALL, CPAXT, AOT, DELTA, THAI, and SCC, together with mild weakness in banking and energy stocks, weighed on the index.</li><li>The index fell below the 1,250-point support, making market sentiment increasingly fragile and more vulnerable to selling pressure.</li><li>We recommend buying on weakness as long as the index holds above the 1,240-point level, as the recent decline was driven primarily by selling pressure in major market sectors.</li></ul>

The SET moved against regional Asian markets, which advanced in line with gains in the Dow Jones, as declines in BH, BDMS, CPALL, CPAXT, AOT, DELTA, THAI, and SCC, together with mild weakness in banking and energy stocks, weighed on the index.The index fell below the 1,250-point support, making market sentiment increasingly fragile and more vulnerable to selling pressure.We recommend buying on weakness as long as the index holds above the 1,240-point level, as the recent decline was driven primarily by selling pressure in major market sectors.

Krungthai XSpring Technical Eng. January 13, 2026

<ul><li>The SET moved in a narrow range throughout the day, as investors remained cautious ahead of a long holiday and awaited the outcome of trade negotiations between Thailand and the United States.</li><li>This led to intermittent profit taking. However, strong rises in AOT and DELTA boosted the index back into positive territory while foreign investors turned net sellers.</li><li>The index is expected to see continued fund inflows supporting its upward movement.</li></ul>

The SET moved in a narrow range throughout the day, as investors remained cautious ahead of a long holiday and awaited the outcome of trade negotiations between Thailand and the United States.This led to intermittent profit taking. However, strong rises in AOT and DELTA boosted the index back into positive territory while foreign investors turned net sellers.The index is expected to see continued fund inflows supporting its upward movement.

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>Sino Biopharmaceutical initiated Phase 1 trial for innovative drug candidate TQB6411 targeting advanced malignant tumors in China. Wuxi Biologics announced that five manufacturing facilities passed the Pre-License Inspection by FDA.</li>
<li>FDA drug advisory committee voted against Otsuka’s indication expansion application for Rexulti. Telix Pharmaceutical received a subpoena from the SEC regarding the development of prostate cancer therapeutic candidates. </li>
<li>Lupin received FDA approval for generic versions of Liraglutide and Glucagon injections. Sun Pharmaceutical announced positive top-line results from two Phase 3 trials of Ilumya in active psoriatic arthritis.</li>
</ul>


Sino Biopharmaceutical initiated Phase 1 trial for innovative drug candidate TQB6411 targeting advanced malignant tumors in China. Wuxi Biologics announced that five manufacturing facilities passed the Pre-License Inspection by FDA.
FDA drug advisory committee voted against Otsuka’s indication expansion application for Rexulti. Telix Pharmaceutical received a subpoena from the SEC regarding the development of prostate cancer therapeutic candidates. 
Lupin received FDA approval for generic versions of Liraglutide and Glucagon injections. Sun Pharmaceutical announced positive top-line results from two Phase 3 trials of Ilumya in active psoriatic arthritis.


APAC Healthcare Weekly (July 27) – Sino Bio, Wuxi Bio, Otsuka, Telix, Lupin, Sun Pharma

<ul><li>The SET Index is expected to move sideways up today, with the resistance levels at 1,134 and 1,140 points (50-day EMA) and the support at 1,118 (25-day EMA) and 1,110 points.</li><li>A technical buy signal has re-emerged after the index broke above the 25-day EMA at 1,118 points.</li><li>External factors are slightly positive, as the likelihood of a Fed rate cut in July has declined to 5.2%, supported by stronger-than-expected June service sector and employment data. </li></ul>

The SET Index is expected to move sideways up today, with the resistance levels at 1,134 and 1,140 points (50-day EMA) and the support at 1,118 (25-day EMA) and 1,110 points.A technical buy signal has re-emerged after the index broke above the 25-day EMA at 1,118 points.External factors are slightly positive, as the likelihood of a Fed rate cut in July has declined to 5.2%, supported by stronger-than-expected June service sector and employment data. 

<ul><li>The SET Index is expected to move sideways up today, supported by slightly positive external factors after the US reached a trade agreement with Vietnam, reducing the tariff rate to 20% (previously set at 46%), which helped boost global stock markets.</li><li>Domestic factors are also expected to be slightly positive, as the new Cabinet prepares for the swearing-in ceremony and a special Cabinet meeting.</li><li>The key support levels today are at 1,107/1,101 points (10-day EMA), while the resistance levels are at 1,123/1,133 points. </li></ul>

The SET Index is expected to move sideways up today, supported by slightly positive external factors after the US reached a trade agreement with Vietnam, reducing the tariff rate to 20% (previously set at 46%), which helped boost global stock markets.Domestic factors are also expected to be slightly positive, as the new Cabinet prepares for the swearing-in ceremony and a special Cabinet meeting.The key support levels today are at 1,107/1,101 points (10-day EMA), while the resistance levels are at 1,123/1,133 points. 

Thailand

Bumrungrad Hospital Public Co., Ltd. operates and manages hospitals and health care centers, providing comprehensive medical services for both outpatients and inpatients. It offers a wide range of specialty centers and clinics, including clinical research and property rental services. The company is headquartered in Bangkok, Thailand, and was founded in 1980.

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Bumrungrad Hospital (BH TB)

Krungthai XSpring Technical Eng. January 13, 2026

The SET moved against regional Asian markets, which advanced in line with gains in the Dow Jones, as declines in BH, BDMS, CPALL, CPAXT, AOT,...

Krungthai XSpring

Technical Analysis - JULY 29, 2025

The SET moved in a narrow range throughout the day, as investors remained cautious ahead of a long holiday and awaited the outcome of trade...

Krungthai XSpring

APAC Healthcare Weekly (July 27) – Sino Bio, Wuxi Bio, Otsuka, Telix, Lupin, Sun Pharma

Wuxi Bio’s manufacturing facilities passed FDA inspection. Otsuka’s label expansion plan for Rexulti is in jeopardy. Telix got SEC subpoena. Lupin...

Tina Banerjee

KTX Zoom - JULY 4, 2025

The SET Index is expected to move sideways up today, with the resistance levels at 1,134 and 1,140 points (50-day EMA) and the support at 1,118 (25...

Krungthai XSpring

KTX Zoom - JULY 3, 2025

The SET Index is expected to move sideways up today, supported by slightly positive external factors after the US reached a trade agreement with...

Krungthai XSpring

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