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.

Cross Asset Strategy

<ul><li>Brent crude rose more than 2% amid concerns that tensions in the Middle East could persist, supporting speculative trading in energy stocks (PTTEP, PTTGC, SPRC).</li><li>The NESDC raised its 2026 export growth forecast to 15.1% from 9.6%, supported by strong demand for electronics and advanced-technology products (DELTA, KCE).</li><li>The Transport Ministry is preparing a Bt24bn budget to support the transition of public transport vehicles to EVs (NEX, EA).</li></ul>

Brent crude rose more than 2% amid concerns that tensions in the Middle East could persist, supporting speculative trading in energy stocks (PTTEP, PTTGC, SPRC).The NESDC raised its 2026 export growth forecast to 15.1% from 9.6%, supported by strong demand for electronics and advanced-technology products (DELTA, KCE).The Transport Ministry is preparing a Bt24bn budget to support the transition of public transport vehicles to EVs (NEX, EA).

Krungthai XSpring Zoom Eng. August 18, 2026

Technical Analysis

<ul><li>The SET Index was supported by strong 2Q26 earnings, with HANA, CCET, and CRC leading the gains, alongside advances in DELTA and the commerce, food, finance, and banking sectors.</li><li>This boosted investor confidence and helped the index maintain its upward momentum without a significant reversal.</li><li>We recommend buying on dips, as the index has shown an ability to rebound quickly following sharp pullbacks.</li></ul>

The SET Index was supported by strong 2Q26 earnings, with HANA, CCET, and CRC leading the gains, alongside advances in DELTA and the commerce, food, finance, and banking sectors.This boosted investor confidence and helped the index maintain its upward momentum without a significant reversal.We recommend buying on dips, as the index has shown an ability to rebound quickly following sharp pullbacks.

Krungthai XSpring Technical Eng. August 18, 2026

<ul><li>The SET Index initially rallied, supported by strong 2Q26 earnings, with AOT, DELTA, KCE, HANA, and BH leading the gains.</li><li>We maintain a constructive outlook, as the index remains in an uptrend, with blue-chip stocks continuing to rotate as market leaders.</li><li>We recommend buying on dips until the index provides a clearer signal of renewed upward momentum, particularly following the sharp swings seen in recent trading sessions.</li></ul>

The SET Index initially rallied, supported by strong 2Q26 earnings, with AOT, DELTA, KCE, HANA, and BH leading the gains.We maintain a constructive outlook, as the index remains in an uptrend, with blue-chip stocks continuing to rotate as market leaders.We recommend buying on dips until the index provides a clearer signal of renewed upward momentum, particularly following the sharp swings seen in recent trading sessions.

Krungthai XSpring Technical Eng. August 17, 2026

<ul><li>DELTA's movement, mixed performance across Asian equity markets, and a fourth consecutive day of net foreign selling continued to influence the SET Index, limiting its gains.</li><li>Although the index's gains remained limited and selling pressure emerged at higher levels, positive sentiment and momentum remained intact.</li><li>We recommend buying on dips, given the index's sharp fluctuations and tendency to swing rapidly in both directions.</li></ul>

DELTA's movement, mixed performance across Asian equity markets, and a fourth consecutive day of net foreign selling continued to influence the SET Index, limiting its gains.Although the index's gains remained limited and selling pressure emerged at higher levels, positive sentiment and momentum remained intact.We recommend buying on dips, given the index's sharp fluctuations and tendency to swing rapidly in both directions.

Krungthai XSpring Technical Eng. August 14, 2026

Kiatnakin Phatra Bank / Technical Analysis

<ul><li>The SET Index came under pressure from weakness in DELTA, despite gains in PTT Group, ADVANC, and companies reporting strong 2Q26 earnings.</li><li>Although the index retreated toward the 1,600-point support area, the pullback has yet to generate any meaningful bearish signals.</li><li>We recommend buying on dips, as downside risk appears limited and the index is likely to recover quickly as long as blue-chip stocks continue to provide support.</li></ul>

The SET Index came under pressure from weakness in DELTA, despite gains in PTT Group, ADVANC, and companies reporting strong 2Q26 earnings.Although the index retreated toward the 1,600-point support area, the pullback has yet to generate any meaningful bearish signals.We recommend buying on dips, as downside risk appears limited and the index is likely to recover quickly as long as blue-chip stocks continue to provide support.

Krungthai XSpring Technical Eng. August 13, 2026

India

Delta Corp Limited is a dominant Indian public company specializing in gaming and hospitality. The company operates offshore and land-based casinos under the Deltin Casinos & Hotels brand, primarily in Goa, Sikkim, and Nepal, offering live and electronic gaming. It also owns and manages luxury hotels and resorts in Goa and Daman. Headquartered in Mumbai, Maharashtra, India, Delta Corp was incorporated in 1990.

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Delta (DELTA IN)

Krungthai XSpring Zoom Eng. August 18, 2026

Brent crude rose more than 2% amid concerns that tensions in the Middle East could persist, supporting speculative trading in energy stocks...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 18, 2026

The SET Index was supported by strong 2Q26 earnings, with HANA, CCET, and CRC leading the gains, alongside advances in DELTA and the commerce,...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 17, 2026

The SET Index initially rallied, supported by strong 2Q26 earnings, with AOT, DELTA, KCE, HANA, and BH leading the gains. We maintain a...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 14, 2026

DELTA's movement, mixed performance across Asian equity markets, and a fourth consecutive day of net foreign selling continued to influence the...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 13, 2026

The SET Index came under pressure from weakness in DELTA, despite gains in PTT Group, ADVANC, and companies reporting strong 2Q26...

Krungthai XSpring

Price Gauge

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Market Cap (USDm)

P/E

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