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 dipped slightly in early trading amid anticipation of 4Q25 rebound led by DELTA, ADVANC, GULF and AOT, together with gains across hospital, banking, finance, commerce and petrol stocks.</li><li>The index advanced for three consecutive sessions, gaining 40.3 points on rising volume.</li><li>We recommend selective speculation, as recovery signals are emerging and the index is transitioning into a sideways phase that could evolve into an uptrend.</li></ul>

The SET dipped slightly in early trading amid anticipation of 4Q25 rebound led by DELTA, ADVANC, GULF and AOT, together with gains across hospital, banking, finance, commerce and petrol stocks.The index advanced for three consecutive sessions, gaining 40.3 points on rising volume.We recommend selective speculation, as recovery signals are emerging and the index is transitioning into a sideways phase that could evolve into an uptrend.

Krungthai XSpring Technical Eng. January 19, 2026

<ul><li>The SET initially weakened in line with Asian bourses amid a lack of new market catalysts.</li><li>The index continues to show positive technical signals, beginning with a harami pattern followed by a large white candlestick.</li><li>We recommend buying on dips and selling on rallies while awaiting a breakout above the 1,278-point resistance.</li></ul>

The SET initially weakened in line with Asian bourses amid a lack of new market catalysts.The index continues to show positive technical signals, beginning with a harami pattern followed by a large white candlestick.We recommend buying on dips and selling on rallies while awaiting a breakout above the 1,278-point resistance.

Krungthai XSpring Technical Eng. January 16, 2026

<ul><li>Asian bourses continued to rebound in line with the US market ahead of the Christmas period, while the SET lacked fresh catalysts.</li><li>Market sentiment remains supported by positive investor psychology driven by fund inflows, alongside expectations of buying from Thai ESG funds and RMFs.</li><li>Nevertheless, we recommend buying on dips and selling on rallies, as trading volume remains thin, keeping the index volatile.</li></ul>

Asian bourses continued to rebound in line with the US market ahead of the Christmas period, while the SET lacked fresh catalysts.Market sentiment remains supported by positive investor psychology driven by fund inflows, alongside expectations of buying from Thai ESG funds and RMFs.Nevertheless, we recommend buying on dips and selling on rallies, as trading volume remains thin, keeping the index volatile.

Krungthai XSpring Technical Eng. December 24, 2025

<ul><li>The IT retail sector is expected to grow in 2026, outperforming consumer staples and home improvement sectors.</li><li>We rate the IT retail sector Overweight, with ADVICE as our top pick at a target price of Bt6.50.</li><li>Despite economic challenges, mobile phones remain essential to daily life, supporting sector resilience.</li></ul>

The IT retail sector is expected to grow in 2026, outperforming consumer staples and home improvement sectors.We rate the IT retail sector Overweight, with ADVICE as our top pick at a target price of Bt6.50.Despite economic challenges, mobile phones remain essential to daily life, supporting sector resilience.

Commerce IT: Low Valuations, Solid Growth Outlook - Overweight

<ul><li>Although Asian bourses traded mixed, the SET climbed strongly, quickly reaching 1,278.63 points as buying interest flowed into blue-chip stocks despite the lack of new positive catalysts.</li><li>The index stayed firmly above the 1,250–1,230 support zone and began to rebound.</li><li>However, as trading volume remains light and the rebound still requires clearer positive confirmation, we recommend buying on dips and selling on rises.</li></ul>

Although Asian bourses traded mixed, the SET climbed strongly, quickly reaching 1,278.63 points as buying interest flowed into blue-chip stocks despite the lack of new positive catalysts.The index stayed firmly above the 1,250–1,230 support zone and began to rebound.However, as trading volume remains light and the rebound still requires clearer positive confirmation, we recommend buying on dips and selling on rises.

Krungthai XSpring Technical Eng. December 2, 2025

Thailand

Com7 Public Company Limited is a leading Thai retailer of information technology (IT) products, including desktop computers, laptops, mobile phones, tablets, and various lifestyle devices. The company also offers repair services for IT gadgets and financial services. It was founded in 2004 and is headquartered in Bangkok, Thailand.

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Com7 (COM7 TB)

Krungthai XSpring Technical Eng. January 19, 2026

We recommend selective speculation, as recovery signals are emerging and the index is transitioning into a sideways phase that could evolve into an...

Krungthai XSpring

Krungthai XSpring Technical Eng. January 16, 2026

The index continues to show positive technical signals, beginning with a harami pattern followed by a large white candlestick.

Krungthai XSpring

Krungthai XSpring Technical Eng. December 24, 2025

Asian bourses continued to rebound in line with the US market ahead of the Christmas period, while the SET lacked fresh catalysts.

Krungthai XSpring

Commerce IT: Low Valuations, Solid Growth Outlook - Overweight

The IT retail sector is expected to grow in 2026, outperforming consumer staples and home improvement sectors. We rate the IT retail sector...

Krungthai XSpring

Krungthai XSpring Technical Eng. December 2, 2025

Although Asian bourses traded mixed, the SET climbed strongly, quickly reaching 1,278.63 points as buying interest flowed into blue-chip stocks...

Krungthai XSpring

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