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 within a narrow range throughout the day before closing slightly lower, pressured by short-term profit-taking.</li><li>Although the index weakened, it held above the 1,300-point level, signaling that sentiment and momentum remain positive.</li><li>Hence, we recommend selective speculation, focusing on blue-chip stocks that have recently pulled back.</li></ul>

The SET moved within a narrow range throughout the day before closing slightly lower, pressured by short-term profit-taking.Although the index weakened, it held above the 1,300-point level, signaling that sentiment and momentum remain positive.Hence, we recommend selective speculation, focusing on blue-chip stocks that have recently pulled back.

Krungthai XSpring Technical Eng. September 18, 2025

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Cross Asset Strategy

<ul><li>eVTOL / In Depth: Motor-Makers Start Their Engines for Electric Aviation Take Off</li><li>Autos /Price War Batters Chinese Automakers’ Profits</li><li>Stocks /Analysis: Why Asia Stocks Have Rallied This Year</li><li>Energy /: Sinopec and Saudi Aramco Launch $10 Billion Petrochemical Venture in Fujian</li></ul>

eVTOL / In Depth: Motor-Makers Start Their Engines for Electric Aviation Take OffAutos /Price War Batters Chinese Automakers’ ProfitsStocks /Analysis: Why Asia Stocks Have Rallied This YearEnergy /: Sinopec and Saudi Aramco Launch $10 Billion Petrochemical Venture in Fujian

CX Daily: Motor-Makers Start Their Engines for Electric Aviation Take Off 

<ul><li>We still believe that the automotive industry has growth potential supported by the continuous expansion of GPM, despite declining revenue, which should allow companies in the sector to achieve slight profit growth this year.</li><li>Thailand’s auto production in July fell 11% YoY to 110k units, marking the first decline after two consecutive months of YoY growth.</li><li>July auto production raised some concerns for us regarding the revenue of companies in the sector in 3Q25 because i) EV sales, which are not considered particularly beneficial for Thai auto parts manufacturers, have begun to account for a significantly larger share as the market becomes more active with new model launches and price competition.</li></ul>

We still believe that the automotive industry has growth potential supported by the continuous expansion of GPM, despite declining revenue, which should allow companies in the sector to achieve slight profit growth this year.Thailand’s auto production in July fell 11% YoY to 110k units, marking the first decline after two consecutive months of YoY growth.July auto production raised some concerns for us regarding the revenue of companies in the sector in 3Q25 because i) EV sales, which are not considered particularly beneficial for Thai auto parts manufacturers, have begun to account for a significantly larger share as the market becomes more active with new model launches and price competition.

Automotive: Confident In Long-Term Outlook Despite Short-Term Slowdown - Neutral

<ul><li>Renewables / Analysis: Chinese renewables firms turn to new markets, models as trade barriers rise</li><li>Wahaha /In Depth: How Wahaha founder’s daughter took control amid a family squabble</li><li>Law /In Depth: China mulls changes to grassroots governance</li></ul>

Renewables / Analysis: Chinese renewables firms turn to new markets, models as trade barriers riseWahaha /In Depth: How Wahaha founder’s daughter took control amid a family squabbleLaw /In Depth: China mulls changes to grassroots governance

CX Daily: Chinese Renewables Firms Turn to New Markets, Models as Trade Barriers Rise 

<ul><li>Autos / In Depth: Controversial Li Auto video levels spotlight on ‘customized’ crash testing</li><li>AI /Exclusive: NetEase executive explains how AI agents could build a future of virtual teachers</li><li>E-commerce /: Pinduoduo’s growth slows as competition, tariffs hit Temu expansion</li></ul>

Autos / In Depth: Controversial Li Auto video levels spotlight on ‘customized’ crash testingAI /Exclusive: NetEase executive explains how AI agents could build a future of virtual teachersE-commerce /: Pinduoduo’s growth slows as competition, tariffs hit Temu expansion

CX Daily: Controversial Li Auto Video Levels Spotlight on ‘Customized’ Crash Testing 

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

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BYD (002594 CH)

Krungthai XSpring Technical Eng. September 18, 2025

The SET moved within a narrow range throughout the day before closing slightly lower, pressured by short-term profit-taking.

Krungthai XSpring

CX Daily: Motor-Makers Start Their Engines for Electric Aviation Take Off

TOP STORIES eVTOL / In Depth: Motor-Makers Start Their Engines for Electric Aviation Take Off Chinese upstarts and their established foreign...

Caixin Global

Automotive: Confident In Long-Term Outlook Despite Short-Term Slowdown - Neutral

Thailand’s auto production in July fell 11% YoY to 110k units, marking the first decline after two consecutive months of YoY growth.

Krungthai XSpring

CX Daily: Chinese Renewables Firms Turn to New Markets, Models as Trade Barriers Rise

TOP STORIES Renewables / Analysis: Chinese renewables firms turn to new markets, models as trade barriers rise Faced with increasing tariffs and...

Caixin Global

CX Daily: Controversial Li Auto Video Levels Spotlight on ‘Customized’ Crash Testing

TOP STORIES Autos / In Depth: Controversial Li Auto video levels spotlight on ‘customized’ crash testing In the video, a sleek SUV and an 8-ton...

Caixin Global

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