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 Index is expected to trade sideways today, with resistance at 1,425/1,440 points and support at 1,406/1,387 points.</li><li>US equities were volatile but eventually closed in negative territory (S&amp;P 500 -0.33%, NASDAQ -0.59%).</li><li>MSCI announced its quarterly index review. For the MSCI Global Small Cap Index, there were no additions, while one stock was removed: CPAXT.</li></ul>

The SET Index is expected to trade sideways today, with resistance at 1,425/1,440 points and support at 1,406/1,387 points.US equities were volatile but eventually closed in negative territory (S&amp;P 500 -0.33%, NASDAQ -0.59%).MSCI announced its quarterly index review. For the MSCI Global Small Cap Index, there were no additions, while one stock was removed: CPAXT.

Krungthai XSpring Zoom Eng. February 11, 2026

<ul><li>The US financial markets reacted with slight volatility and both the 10-year and 2-year Treasury yields rose from 4.24% to 4.26%.</li><li>While the economy shows a continued expansion trend, valuations remain stretched.</li><li>The Bank of Thailand (BOT) reported that the economy continued to expand in December, driven by growth in exports, private investment, and private consumption.</li></ul>

The US financial markets reacted with slight volatility and both the 10-year and 2-year Treasury yields rose from 4.24% to 4.26%.While the economy shows a continued expansion trend, valuations remain stretched.The Bank of Thailand (BOT) reported that the economy continued to expand in December, driven by growth in exports, private investment, and private consumption.

Krungthai XSpring Zoom Eng. February 2, 2026

<ul><li>The SET Index is expected to move sideways down today, with support at 1,300/1,280 and resistance at 1,314/1,328.</li><li>Domestically, foreign investors continued selling Thai equities for a fourth consecutive day after the recent strong market rally, which has reduced valuation attractiveness.</li><li>Thailand’s Board of Investment (BOI) reported a sharp rise in investment applications in 2025, with 3,370 projects (+11%) and total pledged investment of Bt1.88trn (+67%), marking a record high.</li></ul>

The SET Index is expected to move sideways down today, with support at 1,300/1,280 and resistance at 1,314/1,328.Domestically, foreign investors continued selling Thai equities for a fourth consecutive day after the recent strong market rally, which has reduced valuation attractiveness.Thailand’s Board of Investment (BOI) reported a sharp rise in investment applications in 2025, with 3,370 projects (+11%) and total pledged investment of Bt1.88trn (+67%), marking a record high.

Krungthai XSpring Zoom Eng. JANUARY 27, 2026

<ul><li>The SET Index is expected to trade sideways today, with support at 1,300/1,280 and resistance at 1,317/1,330.</li><li>The US: US equities extended gains (S&amp;P 500 +0.55%, NASDAQ +0.91%), supported by easing US–Europe tensions after Donald Trump said tariffs on eight European countries would be dropped following agreement on a Greenland negotiation framework.</li><li>USDTHB: The baht has reversed to weaken over the past two days, driven mainly by i) external factors, as the US dollar strengthened and gold prices declined amid easing US–Europe tensions, and ii) domestic factors, after the Bank of Thailand (BoT) signaled tighter oversight of gold-related transactions to reduce baht volatility linked to gold prices.</li></ul>

The SET Index is expected to trade sideways today, with support at 1,300/1,280 and resistance at 1,317/1,330.The US: US equities extended gains (S&amp;P 500 +0.55%, NASDAQ +0.91%), supported by easing US–Europe tensions after Donald Trump said tariffs on eight European countries would be dropped following agreement on a Greenland negotiation framework.USDTHB: The baht has reversed to weaken over the past two days, driven mainly by i) external factors, as the US dollar strengthened and gold prices declined amid easing US–Europe tensions, and ii) domestic factors, after the Bank of Thailand (BoT) signaled tighter oversight of gold-related transactions to reduce baht volatility linked to gold prices.

Krungthai XSpring Zoom Eng. January 23, 2026

<ul><li>The US: Global financial markets eased (S&amp;P 500 +1.16%, NASDAQ +1.18%, US 10Y yield declined from 4.3% to 4.26%, Dollar Index +0.25%) after Donald Trump said, following discussions with the Secretary General of NATO, that both sides had reached a “framework of a future deal with respect to Greenland”.</li><li>Thailand: The Federation of Thai Industries (FTI) assessed Thailand’s industrial outlook for 2026 and highlighted the following trends: (i) expansion in sectors such as food and beverages and sugar; (ii) stable conditions in automobiles, electronics, power generation, and gems and jewelry; and (iii) contraction in sectors such as rubber and petrochemicals.</li><li>Thailand: Since January 14, the Thai equity market has rallied sharply, with the SET Index rising from 1,235.3 to 1,317.56, or +6.66%, driven by fund inflows.</li></ul>

The US: Global financial markets eased (S&amp;P 500 +1.16%, NASDAQ +1.18%, US 10Y yield declined from 4.3% to 4.26%, Dollar Index +0.25%) after Donald Trump said, following discussions with the Secretary General of NATO, that both sides had reached a “framework of a future deal with respect to Greenland”.Thailand: The Federation of Thai Industries (FTI) assessed Thailand’s industrial outlook for 2026 and highlighted the following trends: (i) expansion in sectors such as food and beverages and sugar; (ii) stable conditions in automobiles, electronics, power generation, and gems and jewelry; and (iii) contraction in sectors such as rubber and petrochemicals.Thailand: Since January 14, the Thai equity market has rallied sharply, with the SET Index rising from 1,235.3 to 1,317.56, or +6.66%, driven by fund inflows.

Krungthai XSpring Zoom Eng. January 22, 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. February 11, 2026

MSCI announced its quarterly index review. For the MSCI Global Small Cap Index, there were no additions, while one stock was removed: CPAXT.

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 2, 2026

The US financial markets reacted with slight volatility and both the 10-year and 2-year Treasury yields rose from 4.24% to 4.26%.

Krungthai XSpring

Krungthai XSpring Zoom Eng. JANUARY 27, 2026

Thailand’s Board of Investment (BOI) reported a sharp rise in investment applications in 2025, with 3,370 projects (+11%) and total pledged...

Krungthai XSpring

Krungthai XSpring Zoom Eng. January 23, 2026

The US: US equities extended gains (S&P 500 +0.55%, NASDAQ +0.91%), supported by easing US–Europe tensions after Donald Trump said tariffs on eight...

Krungthai XSpring

Krungthai XSpring Zoom Eng. January 22, 2026

Thailand: Since January 14, the Thai equity market has rallied sharply, with the SET Index rising from 1,235.3 to 1,317.56, or +6.66%, driven by...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)