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 market may face downside volatility from US–Venezuela tensions, which could weigh on global financial markets.</li><li>President Trump stated that the US would take control of Venezuela during a transition period, with US oil companies moving in to rehabilitate the country’s oil industry.</li><li>The Bank of Thailand (BoT) reported that the economy in November continued to expand from October, driven mainly by exports, private investment, and foreign tourist arrivals.</li></ul>

The market may face downside volatility from US–Venezuela tensions, which could weigh on global financial markets.President Trump stated that the US would take control of Venezuela during a transition period, with US oil companies moving in to rehabilitate the country’s oil industry.The Bank of Thailand (BoT) reported that the economy in November continued to expand from October, driven mainly by exports, private investment, and foreign tourist arrivals.

Krungthai XSpring Zoom Eng. January 5, 2026

<ul><li>The SET Index is expected to trade sideways down today, with the support at 1,283/1,268 points and the resistance at 1,300/1,313 points.</li><li>Crude oil prices dropped sharply (WTI –4.18%, Brent –3.76%), marking the steepest decline since June, driven by concerns over rising supply after OPEC+ revised its 3Q25 oil market outlook from a deficit to a surplus due to higher-than-expected US production.</li><li>The Board of Investment (BOI) has approved revised investment incentives for data centers to promote technology transfer and more balanced regional development.</li></ul>

The SET Index is expected to trade sideways down today, with the support at 1,283/1,268 points and the resistance at 1,300/1,313 points.Crude oil prices dropped sharply (WTI –4.18%, Brent –3.76%), marking the steepest decline since June, driven by concerns over rising supply after OPEC+ revised its 3Q25 oil market outlook from a deficit to a surplus due to higher-than-expected US production.The Board of Investment (BOI) has approved revised investment incentives for data centers to promote technology transfer and more balanced regional development.

Krungthai XSpring Zoom Eng. November 13, 2025

<ul><li>The SET Index is expected to trade sideways today, with the support levels at 1,313/1,300 points and the resistance at 1,322/1,332 points.</li><li>For low-risk investors, we recommend parking funds in defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC).</li><li>We expect live swine prices to continue rising and stabilize within the Bt60–65/kg range, which is a positive signal for the profit margins of swine producers (TFG, BTG, CPF).</li></ul>

The SET Index is expected to trade sideways today, with the support levels at 1,313/1,300 points and the resistance at 1,322/1,332 points.For low-risk investors, we recommend parking funds in defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC).We expect live swine prices to continue rising and stabilize within the Bt60–65/kg range, which is a positive signal for the profit margins of swine producers (TFG, BTG, CPF).

Krungthai XSpring Zoom Eng. November 7, 2025

<ul><li>The US: US equities advanced (S&amp;P 500 +0.58%, NASDAQ +0.89%) on renewed optimism over US–China trade negotiations, following the White House’s confirmation that President Donald Trump will meet President Xi Jinping on October 30 in a sideline discussion at the APEC Summit in South Korea.</li><li>Oil: Crude oil prices rebounded sharply (WTI +5.43%, Brent +5.62%) after the US imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil producers.</li><li>Thailand: Focus today will also be on Thailand’s September international trade report, which is expected to show continued recovery.</li></ul>

The US: US equities advanced (S&amp;P 500 +0.58%, NASDAQ +0.89%) on renewed optimism over US–China trade negotiations, following the White House’s confirmation that President Donald Trump will meet President Xi Jinping on October 30 in a sideline discussion at the APEC Summit in South Korea.Oil: Crude oil prices rebounded sharply (WTI +5.43%, Brent +5.62%) after the US imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil producers.Thailand: Focus today will also be on Thailand’s September international trade report, which is expected to show continued recovery.

Krungthai XSpring Zoom Eng. October 24, 2025

<ul><li>The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses on Thursday.</li><li>We recommend short-term speculative plays in export and industrial estate stocks (DELTA, HANA, KCE, TFG, WHA, AMATA), which should benefit from the improving trade outlook.</li><li>Bank stocks may see increased volatility driven by speculative trading or sell-on-fact activity, which could add short-term pressure to the SET Index.</li></ul>

The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses on Thursday.We recommend short-term speculative plays in export and industrial estate stocks (DELTA, HANA, KCE, TFG, WHA, AMATA), which should benefit from the improving trade outlook.Bank stocks may see increased volatility driven by speculative trading or sell-on-fact activity, which could add short-term pressure to the SET Index.

Krungthai XSpring Zoom Eng. October 20, 2025

Ireland

DCC is a diversified international sales, marketing, and business support services group. It focuses on multi-energy sales and distribution in Europe and the US, providing liquid gas, fuels, biofuels, on-grid gas, and renewable power to commercial, industrial, and domestic customers. DCC also operates service stations and fleet services. The company was founded in 1976 and is headquartered in Dublin, Ireland.

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DCC (DCC LN)

Krungthai XSpring Zoom Eng. January 5, 2026

President Trump stated that the US would take control of Venezuela during a transition period, with US oil companies moving in to rehabilitate the...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 13, 2025

The SET Index is expected to trade sideways down today, with the support at 1,283/1,268 points and the resistance at 1,300/1,313 points.

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 7, 2025

The SET Index is expected to trade sideways today, with the support levels at 1,313/1,300 points and the resistance at 1,322/1,332 points.

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 24, 2025

The SET Index is expected to trade in a sideways-up pattern today, with the resistance at 1,314 and 1,334 points, and support at 1,300 and 1,280...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 20, 2025

The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses...

Krungthai XSpring

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