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.

Technical Analysis

<ul><li>The SET Index initially moved higher before retreating as energy, banking, and ICT stocks weakened and foreign investors turned net sellers.</li><li>The index traded sideways last week amid a lack of fresh catalysts, persistent overhead selling pressure, and continued uncertainty surrounding the Middle East situation.</li><li>We therefore recommend buying on dips, as the index is expected to either rebound quickly or continue trading sideways.</li></ul>

The SET Index initially moved higher before retreating as energy, banking, and ICT stocks weakened and foreign investors turned net sellers.The index traded sideways last week amid a lack of fresh catalysts, persistent overhead selling pressure, and continued uncertainty surrounding the Middle East situation.We therefore recommend buying on dips, as the index is expected to either rebound quickly or continue trading sideways.

Krungthai XSpring Technical Eng. August 10, 2026

Equity Bottom-Up

<ul><li>The Nasdaq continues to hit new yearly highs, driven by AI-related technology companies, benefiting DELTA, KCE and HANA.</li><li>Easing oil supply concerns pushed Brent crude down nearly 2% to USD100/bbl.</li><li>The Cabinet approved accelerating state enterprise investment spending for FY2027, focusing on transportation and energy projects.</li></ul>

The Nasdaq continues to hit new yearly highs, driven by AI-related technology companies, benefiting DELTA, KCE and HANA.Easing oil supply concerns pushed Brent crude down nearly 2% to USD100/bbl.The Cabinet approved accelerating state enterprise investment spending for FY2027, focusing on transportation and energy projects.

<ul>
<li>The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.</li>
<li>Stock inclusion and exclusion are based on forward earnings outlooks and relative price movements versus KTX's assessed fair value.</li>
<li>The recovery in electronics and retail stocks lifted the portfolio return by 0.31%, outperforming the SET Index (+0.04%).</li>
</ul>


The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.
Stock inclusion and exclusion are based on forward earnings outlooks and relative price movements versus KTX's assessed fair value.
The recovery in electronics and retail stocks lifted the portfolio return by 0.31%, outperforming the SET Index (+0.04%).


KTX Tactical Picks - October 1, 2026 (Eng.)

<ul><li>(+) Major Asian markets, including the NIKKEI and KOSPI, rose after the Fed raised interest rates as expected.</li><li>We expect the SET to rebound and test resistance at 1,578 points, as the market has priced in the Fed's latest rate hike, while its future rate-hike signals were less hawkish than expected.</li><li>We recommend selectively investing in stocks with solid fundamentals.</li></ul>

(+) Major Asian markets, including the NIKKEI and KOSPI, rose after the Fed raised interest rates as expected.We expect the SET to rebound and test resistance at 1,578 points, as the market has priced in the Fed's latest rate hike, while its future rate-hike signals were less hawkish than expected.We recommend selectively investing in stocks with solid fundamentals.

Krungthai XSpring Zoom Eng. September 17, 2026

<ul><li>The 10-year US Treasury yield approached 5%, its highest level in three years, amid inflation concerns as Brent crude continued to trade above USD105/bbl.</li><li>We expect the SET Index to trend lower and test its next support at around 1,584 points, pressured by US dollar strength and the 10-year US Treasury yield approaching 5%.</li><li>DELTA's parent company plans to raise USD1.5bn by issuing bonds convertible into DELTA shares.</li></ul>

The 10-year US Treasury yield approached 5%, its highest level in three years, amid inflation concerns as Brent crude continued to trade above USD105/bbl.We expect the SET Index to trend lower and test its next support at around 1,584 points, pressured by US dollar strength and the 10-year US Treasury yield approaching 5%.DELTA's parent company plans to raise USD1.5bn by issuing bonds convertible into DELTA shares.

Krungthai XSpring Zoom Eng. September 15, 2026

Australia

Errawarra Resources Ltd provides exploration and mining services. The Company explores and develops manganese projects. Errawarra Resources serves customers worldwide.

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

Errawarra Resources (ERW AU)

Krungthai XSpring Technical Eng. August 10, 2026

The SET Index initially moved higher before retreating as energy, banking, and ICT stocks weakened and foreign investors turned net sellers. The...

Krungthai XSpring

SET Index Outlook

The Nasdaq continues to hit new yearly highs, driven by AI-related technology companies, benefiting DELTA, KCE and HANA. Easing oil supply...

Krungthai XSpring

KTX Tactical Picks - October 1, 2026 (Eng.)

The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts. Stock inclusion...

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 17, 2026

(+) Major Asian markets, including the NIKKEI and KOSPI, rose after the Fed raised interest rates as expected. We expect the SET to rebound and...

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 15, 2026

The 10-year US Treasury yield approached 5%, its highest level in three years, amid inflation concerns as Brent crude continued to trade above...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)