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 advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.</li><li>The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.</li><li>We expect the index to continue climbing toward the 1,300-point target.</li></ul>

The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.We expect the index to continue climbing toward the 1,300-point target.

Krungthai XSpring Technical Eng. September 26, 2025

<ul><li>The SET Index is expected to move higher today, with the support at 1,272/1,264 and the resistance at 1,284/1,296.</li><li>Concerns about the credit rating appear limited, as foreign investors returned to net buying for the first time in five days.</li><li>Fitch Ratings maintained Thailand’s credit rating at BBB+ but revised the outlook to Negative from Stable, citing political risks and high public debt at 59.4% of GDP in August, about 25 ppt above pre-COVID levels.</li></ul>

The SET Index is expected to move higher today, with the support at 1,272/1,264 and the resistance at 1,284/1,296.Concerns about the credit rating appear limited, as foreign investors returned to net buying for the first time in five days.Fitch Ratings maintained Thailand’s credit rating at BBB+ but revised the outlook to Negative from Stable, citing political risks and high public debt at 59.4% of GDP in August, about 25 ppt above pre-COVID levels.

Krungthai XSpring Zoom Eng. September 25, 2025

<ul><li>The SET attempted a rebound, led by a surge in DELTA, but lacked new supporting factors amid concerns over fund outflows following the weaker baht.</li><li>The index plunged for the fifth straight day, pressured by continuous foreign investor sell-offs over the same period.</li><li>We expect the index to either rebound or move sideways after consecutive declines.</li></ul>

The SET attempted a rebound, led by a surge in DELTA, but lacked new supporting factors amid concerns over fund outflows following the weaker baht.The index plunged for the fifth straight day, pressured by continuous foreign investor sell-offs over the same period.We expect the index to either rebound or move sideways after consecutive declines.

Krungthai XSpring Technical Eng. September 24, 2025

<ul><li>The SET remained under selling pressure, led by foreign investors who have been net sellers for four consecutive days.</li><li>The index has continued to retreat, forming three consecutive black candlesticks that have turned the price pattern more negative and signaled a consolidation phase.</li><li>We therefore expect the index to trade sideways to alleviate negative indicator signals, and we maintain our recommendation to buy on dips.</li></ul>

The SET remained under selling pressure, led by foreign investors who have been net sellers for four consecutive days.The index has continued to retreat, forming three consecutive black candlesticks that have turned the price pattern more negative and signaled a consolidation phase.We therefore expect the index to trade sideways to alleviate negative indicator signals, and we maintain our recommendation to buy on dips.

Krungthai XSpring Technical Eng. September 23, 2025

<ul><li>The SET attempted to rebound and hold above 1,300 points but failed as selling pressure persisted, driven largely by heavy foreign investor sell-offs.</li><li>Fund outflows were a key factor weighing on the index, with no fresh catalysts and investors still waiting for government stimulus measures.</li><li>The index may dip further, but we believe the downside is limited as the overall uptrend remains intact.</li></ul>

The SET attempted to rebound and hold above 1,300 points but failed as selling pressure persisted, driven largely by heavy foreign investor sell-offs.Fund outflows were a key factor weighing on the index, with no fresh catalysts and investors still waiting for government stimulus measures.The index may dip further, but we believe the downside is limited as the overall uptrend remains intact.

Krungthai XSpring Technical Eng. September 22, 2025

India

Delta Corp Limited a diversified business group having a presence in the entertainment and gaming, real estate business in India and Kenya. The Company's business includes offshore casinos, and real estate consulting & development.

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Delta Corp Ltd (DELTA IN)

Krungthai XSpring Technical Eng. September 26, 2025

The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 25, 2025

Concerns about the credit rating appear limited, as foreign investors returned to net buying for the first time in five days.

Krungthai XSpring

Krungthai XSpring Technical Eng. September 24, 2025

The SET attempted a rebound, led by a surge in DELTA, but lacked new supporting factors amid concerns over fund outflows following the weaker baht.

Krungthai XSpring

Krungthai XSpring Technical Eng. September 23, 2025

The index has continued to retreat, forming three consecutive black candlesticks that have turned the price pattern more negative and signaled a...

Krungthai XSpring

Krungthai XSpring Technical Eng. September 22, 2025

The SET attempted to rebound and hold above 1,300 points but failed as selling pressure persisted, driven largely by heavy foreign investor sell-offs.

Krungthai XSpring

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