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 continued to advance, supported by the formation of the new cabinet, which boosted expectations for economic stimulus measures.</li><li>In the short term, the index may continue to trade sideways but it is now approaching resistance at the previous high of 1,284 points.</li><li>Therefore, we recommend selective speculation, as the index is expected to continue rebounding toward the 1,300-point level.</li></ul>

The SET continued to advance, supported by the formation of the new cabinet, which boosted expectations for economic stimulus measures.In the short term, the index may continue to trade sideways but it is now approaching resistance at the previous high of 1,284 points.Therefore, we recommend selective speculation, as the index is expected to continue rebounding toward the 1,300-point level.

Krungthai XSpring Technical Eng. September 10, 2025

<ul><li>The SET Index is expected to trade with an upward bias today, with the support at 1,260/1,250 and the resistance at 1,276/1,291.</li><li>The outlook for 2H25 is positive as the technology sector enters its high season, supported by flagship products and AI-integrated smart devices.</li><li>The baht has continued to strengthen, recently appreciating below 32/USD to around 31.8/USD — its strongest level in three and a half years and the second-best performing Asian currency year-to-date, after the Taiwan dollar.</li></ul>

The SET Index is expected to trade with an upward bias today, with the support at 1,260/1,250 and the resistance at 1,276/1,291.The outlook for 2H25 is positive as the technology sector enters its high season, supported by flagship products and AI-integrated smart devices.The baht has continued to strengthen, recently appreciating below 32/USD to around 31.8/USD — its strongest level in three and a half years and the second-best performing Asian currency year-to-date, after the Taiwan dollar.

Krungthai XSpring Zoom Eng. September 9, 2025

<ul><li>The SET Index is expected to remain volatile today, with resistance at 1,273/1,284 points and support at 1,260/1,250 points.</li><li>Domestically, sentiment has turned positive after parliament approved Anutin Charnvirakul as the new Prime Minister, helping restore investor confidence.</li><li>The next step is royal endorsement, followed by the appointment of the new Cabinet.</li></ul>

The SET Index is expected to remain volatile today, with resistance at 1,273/1,284 points and support at 1,260/1,250 points.Domestically, sentiment has turned positive after parliament approved Anutin Charnvirakul as the new Prime Minister, helping restore investor confidence.The next step is royal endorsement, followed by the appointment of the new Cabinet.

Krungthai XSpring Zoom Eng. September 8, 2025

<ul><li>The SET Index is expected to trade sideways up today, with the resistance at 1,268/1,284 and the support at 1,251/1,238.</li><li>The US Department of Labor released the JOLTS Job Openings survey, showing that job openings—a key measure of labor market demand—fell by 170k to 7.18mn positions in July, below analysts’ forecast of 7.38mn and down from 7.437mn in June.</li><li>The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) projects Thailand’s GDP growth at 1.8–2.2% in 2025, with exports expected to grow 2–3% and inflation at 0.5–1.0%.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,268/1,284 and the support at 1,251/1,238.The US Department of Labor released the JOLTS Job Openings survey, showing that job openings—a key measure of labor market demand—fell by 170k to 7.18mn positions in July, below analysts’ forecast of 7.38mn and down from 7.437mn in June.The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) projects Thailand’s GDP growth at 1.8–2.2% in 2025, with exports expected to grow 2–3% and inflation at 0.5–1.0%.

Krungthai XSpring Zoom Eng. September 4, 2025

<ul><li>The SET Index today is expected to remain volatile, with the support levels at 1,250/1,231 points and the resistance levels at 1,260/1,273 points.</li><li>Domestic factors are expected to be slightly positive, as the Thailand Focus 2025 event is likely to generate positive sentiment for stocks of participating companies, including CPALL, CPF, CPAXT, TRUE, KTB, BAM, MINT, THAI, BDMS, and SCB.</li><li>The removal of a Fed Governor by Trump caused volatility in US financial markets.</li></ul>

The SET Index today is expected to remain volatile, with the support levels at 1,250/1,231 points and the resistance levels at 1,260/1,273 points.Domestic factors are expected to be slightly positive, as the Thailand Focus 2025 event is likely to generate positive sentiment for stocks of participating companies, including CPALL, CPF, CPAXT, TRUE, KTB, BAM, MINT, THAI, BDMS, and SCB.The removal of a Fed Governor by Trump caused volatility in US financial markets.

Krungthai XSpring Zoom Eng. August 27, 2025

Thailand

CP Axtra Public Company Limited operates retail and wholesale businesses for consumer goods, and manages lease spaces in shopping centers under banners like Makro and Lotus's. Their product portfolio includes fresh food, dry groceries, non-food items, and general consumer goods. The company is headquartered in Bangkok, Thailand, and was founded in 1988.

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CP Axtra (CPAXT TB)

Krungthai XSpring Technical Eng. September 10, 2025

The SET continued to advance, supported by the formation of the new cabinet, which boosted expectations for economic stimulus measures.

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 9, 2025

The SET Index is expected to trade with an upward bias today, with the support at 1,260/1,250 and the resistance at 1,276/1,291.

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 8, 2025

Domestically, sentiment has turned positive after parliament approved Anutin Charnvirakul as the new Prime Minister, helping restore investor...

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 4, 2025

The US Department of Labor released the JOLTS Job Openings survey, showing that job openings—a key measure of labor market demand—fell by 170k to...

Krungthai XSpring

Krungthai XSpring Zoom Eng. August 27, 2025

The SET Index today is expected to remain volatile, with the support levels at 1,250/1,231 points and the resistance levels at 1,260/1,273 points.

Krungthai XSpring

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