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 US-Iran: Trump announced a two-week ceasefire with Iran, conditional on reopening the Strait of Hormuz, and stated that the agreement has been approved by both sides.</li><li>The US: We are monitoring the March Fed Minutes, focusing on how policymakers assess Middle East tensions.</li><li>Thailand: Thailand’s March inflation remained in contraction at -0.08% YoY, versus market expectations of +0.2%, due to oil price caps in the first half of the month.</li></ul>

The US-Iran: Trump announced a two-week ceasefire with Iran, conditional on reopening the Strait of Hormuz, and stated that the agreement has been approved by both sides.The US: We are monitoring the March Fed Minutes, focusing on how policymakers assess Middle East tensions.Thailand: Thailand’s March inflation remained in contraction at -0.08% YoY, versus market expectations of +0.2%, due to oil price caps in the first half of the month.

Krungthai XSpring Zoom Eng. April 8, 2026

<ul><li>The US and Iran are considering a ceasefire proposal to ease tensions in the Strait of Hormuz, supporting equity market sentiment.</li><li>The US deadline for potential strikes on Iran’s infrastructure (morning of April 8, Thai time) may keep investors cautious.</li><li>Consumption plays (CPALL, CPAXT) should benefit from stimulus measures following the government’s policy statement on April 9–10.</li></ul>

The US and Iran are considering a ceasefire proposal to ease tensions in the Strait of Hormuz, supporting equity market sentiment.The US deadline for potential strikes on Iran’s infrastructure (morning of April 8, Thai time) may keep investors cautious.Consumption plays (CPALL, CPAXT) should benefit from stimulus measures following the government’s policy statement on April 9–10.

Krungthai XSpring Zoom Eng. April 7, 2026

<ul><li>Although Asian stock markets traded mixed amid concerns over the prolonged Middle East conflict and profit-taking ahead of the weekend, the SET moved against the trend, led by gains in energy and petrochemical stocks, alongside strong foreign investor buying.</li><li>The index has held above all short-term EMA lines for three consecutive days, while the RSI remains above 50 and the MACD histogram is showing signs of turning positive.</li><li>However, we recommend a buy-on-dips, sell-on-rallies strategy, as the index is likely to remain volatile and the situation in the Middle East should be closely monitored.</li></ul>

Although Asian stock markets traded mixed amid concerns over the prolonged Middle East conflict and profit-taking ahead of the weekend, the SET moved against the trend, led by gains in energy and petrochemical stocks, alongside strong foreign investor buying.The index has held above all short-term EMA lines for three consecutive days, while the RSI remains above 50 and the MACD histogram is showing signs of turning positive.However, we recommend a buy-on-dips, sell-on-rallies strategy, as the index is likely to remain volatile and the situation in the Middle East should be closely monitored.

Krungthai XSpring Technical Eng. March 30, 2026

<ul><li>The SET Index is expected to extend gains today, with support at 1,400/1,386 points and resistance at 1,420/1,436 points.</li><li>Easing tensions in the Middle East should continue to support market sentiment.</li><li>Thailand’s exports grew 9.9% YoY in February, below market expectations of +14–15% YoY, but still marked the 20th consecutive month of expansion.</li></ul>

The SET Index is expected to extend gains today, with support at 1,400/1,386 points and resistance at 1,420/1,436 points.Easing tensions in the Middle East should continue to support market sentiment.Thailand’s exports grew 9.9% YoY in February, below market expectations of +14–15% YoY, but still marked the 20th consecutive month of expansion.

Krungthai XSpring Zoom Eng. March 25, 2026

<ul><li>The SET Index is expected to rebound today, with support at 1,386/1,361 points and resistance at 1,400/1,420 points.</li><li>Trump signaled progress in US–Iran negotiations and ordered a five-day delay (expected until March 28) in attacks on Iran’s power plants and energy infrastructure.</li><li>Following the royal endorsement of the Prime Minister on March 20, the Cabinet Secretariat is currently vetting the backgrounds and qualifications of the new cabinet members.</li></ul>

The SET Index is expected to rebound today, with support at 1,386/1,361 points and resistance at 1,400/1,420 points.Trump signaled progress in US–Iran negotiations and ordered a five-day delay (expected until March 28) in attacks on Iran’s power plants and energy infrastructure.Following the royal endorsement of the Prime Minister on March 20, the Cabinet Secretariat is currently vetting the backgrounds and qualifications of the new cabinet members.

Krungthai XSpring Zoom Eng. March 24, 2026

Thailand

The Erawan Group is a Thai hospitality company that invests in, develops, and operates hotels across luxury, midscale, economy, and budget segments, primarily in Thailand, the Philippines, and Japan. The company also engages in building rental and management, including commercial retail properties and office buildings. It was founded in 1982 and is headquartered in Bangkok, Thailand.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Erawan Group (ERW TB)

Krungthai XSpring Zoom Eng. April 8, 2026

The US-Iran: Trump announced a two-week ceasefire with Iran, conditional on reopening the Strait of Hormuz, and stated that the agreement has been...

Krungthai XSpring

Krungthai XSpring Zoom Eng. April 7, 2026

Consumption plays (CPALL, CPAXT) should benefit from stimulus measures following the government’s policy statement on April 9–10.

Krungthai XSpring

Krungthai XSpring Technical Eng. March 30, 2026

The index has held above all short-term EMA lines for three consecutive days, while the RSI remains above 50 and the MACD histogram is showing...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 25, 2026

Thailand’s exports grew 9.9% YoY in February, below market expectations of +14–15% YoY, but still marked the 20th consecutive month of expansion.

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 24, 2026

Trump signaled progress in US–Iran negotiations and ordered a five-day delay (expected until March 28) in attacks on Iran’s power plants and energy...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)