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 managed to move up against concerns over the US imposing 30% tariffs on the EU and Mexico while most Asian bourses rebounded due to the market hopes for trade negotiations with the US.</li><li>Buying activities flowed into large-cap stocks, particularly in the energy, banking, transportation, commerce, electronic, food and healthcare sectors.</li><li>Meanwhile, foreign investors kept buying for the fifth consecutive day</li></ul>

The SET managed to move up against concerns over the US imposing 30% tariffs on the EU and Mexico while most Asian bourses rebounded due to the market hopes for trade negotiations with the US.Buying activities flowed into large-cap stocks, particularly in the energy, banking, transportation, commerce, electronic, food and healthcare sectors.Meanwhile, foreign investors kept buying for the fifth consecutive day

<ul><li>The SET Index is expected to soften today, with the support levels at 1,114 points (10-day EMA) and 1,108 points and the resistance at 1,128 and 1,133 points.</li><li>Foreign investors recorded a significant net buy of Thai equities on Friday—totaling Bt2,187.35mn (the highest in 11 days and marking a fourth consecutive day of net buying); this can be interpreted as slightly positive.</li><li>However, there remains a lack of clear domestic drivers, while external factors are negative. </li></ul>

The SET Index is expected to soften today, with the support levels at 1,114 points (10-day EMA) and 1,108 points and the resistance at 1,128 and 1,133 points.Foreign investors recorded a significant net buy of Thai equities on Friday—totaling Bt2,187.35mn (the highest in 11 days and marking a fourth consecutive day of net buying); this can be interpreted as slightly positive.However, there remains a lack of clear domestic drivers, while external factors are negative. 

KTX Zoom: Concerns over Trade War - JULY 14, 2025

<ul><li>The SET Index is expected to trade sideways today with light volume amid the long holiday.</li><li>The support levels are at 1,103 and 1,095 points, while the resistance levels are at 1,118 points (25-day EMA) and 1,123 points.</li><li>External factors are slightly positive following the latest stance from the US, which continues to use tariffs as a bargaining tool. </li></ul>

The SET Index is expected to trade sideways today with light volume amid the long holiday.The support levels are at 1,103 and 1,095 points, while the resistance levels are at 1,118 points (25-day EMA) and 1,123 points.External factors are slightly positive following the latest stance from the US, which continues to use tariffs as a bargaining tool. 

KTX Zoom: Moving Slowly During the Long Holiday - July 11, 2025

<ul><li>The US has maintained the reciprocal tariff rate on Thailand at 36%, while allowing room for negotiations before the new tariff takes effect on August 1, 2025.</li><li>If the US ultimately imposes this 36% tariff on Thai exports (with KTX estimating a 30% probability), it would undermine the competitiveness of Thai products — particularly electronics and rubber — posing downside risk that could push the SET Index down to 1,037 points over the next 12 months.</li><li>However, we believe the Thai government will make strong efforts to negotiate the rate down closer to 18% (55% probability). </li></ul>

The US has maintained the reciprocal tariff rate on Thailand at 36%, while allowing room for negotiations before the new tariff takes effect on August 1, 2025.If the US ultimately imposes this 36% tariff on Thai exports (with KTX estimating a 30% probability), it would undermine the competitiveness of Thai products — particularly electronics and rubber — posing downside risk that could push the SET Index down to 1,037 points over the next 12 months.However, we believe the Thai government will make strong efforts to negotiate the rate down closer to 18% (55% probability). 

Special Report: Reciprocal Tariff - JULY 9, 2025

<ul><li>The SET Index is expected to move sideways down today, with the support at 1,107/1,100 points and the resistance at 1,123/1,128 points.</li><li>This is due to the upcoming holiday in Thailand and ongoing negative global factors, particularly after Trump announced plans to impose tariffs of 50% on copper and 200% on pharmaceuticals.</li><li>Meanwhile, domestic factors are slightly positive, as the government has signaled its readiness to compensate those affected by the US tariffs, and weekly international tourist arrivals show signs of improvement.</li></ul>

The SET Index is expected to move sideways down today, with the support at 1,107/1,100 points and the resistance at 1,123/1,128 points.This is due to the upcoming holiday in Thailand and ongoing negative global factors, particularly after Trump announced plans to impose tariffs of 50% on copper and 200% on pharmaceuticals.Meanwhile, domestic factors are slightly positive, as the government has signaled its readiness to compensate those affected by the US tariffs, and weekly international tourist arrivals show signs of improvement.

KTX Zoom: Volatile Movement Before Holiday - JULY 9, 2025

Thailand

Cal-Comp Electronics (Thailand) PCL is an original equipment manufacturer of computer peripheral, office equipment and consumer electronic products. Its products include desktop computers, CD-ROMS, web pads, MP3 players, integrated receiver decoders, fax machines, mobile phones, cordless phones, pagers, and transceivers.  The Company is part of Kinpo Group of Taiwan.

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

Cal Comp Electronics Thailand (CCET TB)

Technical Analysis - JULY 15, 2025

Buying activities flowed into large-cap stocks, particularly in the energy, banking, transportation, commerce, electronic, food and healthcare...

Krungthai XSpring

KTX Zoom: Concerns over Trade War - JULY 14, 2025

The SET Index is expected to soften today, with the support levels at 1,114 points (10-day EMA) and 1,108 points and the resistance at 1,128 and...

Krungthai XSpring

KTX Zoom: Moving Slowly During the Long Holiday - July 11, 2025

The SET Index is expected to trade sideways today with light volume amid the long holiday. The support levels are at 1,103 and 1,095 points, while...

Krungthai XSpring

Special Report: Reciprocal Tariff - JULY 9, 2025

We recommend speculative buying of stocks affected by concerns over the 36% tariff, namely DELTA, HANA, CCET, SVI, STA, NER, WHA, and AMATA.

Krungthai XSpring

KTX Zoom: Volatile Movement Before Holiday - JULY 9, 2025

The SET Index is expected to move sideways down today, with the support at 1,107/1,100 points and the resistance at 1,123/1,128 points.

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)