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 move in a limited sideways-up pattern today, with the support at 1,300/1,280 and the resistance at 1,322/1,334.</li><li>The US and Thailand have signed a Memorandum of Understanding (MOU) on cooperation in critical minerals.</li><li>We recommend focusing on defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC) or accumulating shares with potential 3Q25 earnings growth both QoQ and YoY (ADVANC, BCPG, PR9, PTTGC, MTC).</li></ul>

The SET Index is expected to move in a limited sideways-up pattern today, with the support at 1,300/1,280 and the resistance at 1,322/1,334.The US and Thailand have signed a Memorandum of Understanding (MOU) on cooperation in critical minerals.We recommend focusing on defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC) or accumulating shares with potential 3Q25 earnings growth both QoQ and YoY (ADVANC, BCPG, PR9, PTTGC, MTC).

Krungthai XSpring Zoom Eng. October 27, 2025

<ul><li>The US: US equities advanced (S&amp;P 500 +0.58%, NASDAQ +0.89%) on renewed optimism over US–China trade negotiations, following the White House’s confirmation that President Donald Trump will meet President Xi Jinping on October 30 in a sideline discussion at the APEC Summit in South Korea.</li><li>Oil: Crude oil prices rebounded sharply (WTI +5.43%, Brent +5.62%) after the US imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil producers.</li><li>Thailand: Focus today will also be on Thailand’s September international trade report, which is expected to show continued recovery.</li></ul>

The US: US equities advanced (S&amp;P 500 +0.58%, NASDAQ +0.89%) on renewed optimism over US–China trade negotiations, following the White House’s confirmation that President Donald Trump will meet President Xi Jinping on October 30 in a sideline discussion at the APEC Summit in South Korea.Oil: Crude oil prices rebounded sharply (WTI +5.43%, Brent +5.62%) after the US imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil producers.Thailand: Focus today will also be on Thailand’s September international trade report, which is expected to show continued recovery.

Krungthai XSpring Zoom Eng. October 24, 2025

<ul><li>The SET Index is expected to trade sideways down today, with the support at 1,250/1,236 and the resistance at 1,268/1,280.</li><li>External factors are viewed as neutral, with renewed US–China tensions offset by the Fed’s signal to inject liquidity.</li><li>Domestically, the outlook is slightly positive ahead of today’s Economic Cabinet meeting, which may unveil a four-month economic stimulus plan.</li></ul>

The SET Index is expected to trade sideways down today, with the support at 1,250/1,236 and the resistance at 1,268/1,280.External factors are viewed as neutral, with renewed US–China tensions offset by the Fed’s signal to inject liquidity.Domestically, the outlook is slightly positive ahead of today’s Economic Cabinet meeting, which may unveil a four-month economic stimulus plan.

Krungthai XSpring Zoom Eng. October 15, 2025

<ul><li>The “Khon La Khrueng Plus” scheme, a short-term economic stimulus measure the government aims to roll out quickly to support 4Q25E economic growth, will directly benefit small retailers and restaurants.</li><li>The Cabinet has approved the program with a total budget of Bt44.4bn (in line with expectations), representing 0.24% of GDP.</li><li>The Minister of Finance expects additional stimulus measures to follow, aiming to raise 4Q25E economic growth by at least 1% (compared to an estimated 0.3% without economic stimulus).</li></ul>

The “Khon La Khrueng Plus” scheme, a short-term economic stimulus measure the government aims to roll out quickly to support 4Q25E economic growth, will directly benefit small retailers and restaurants.The Cabinet has approved the program with a total budget of Bt44.4bn (in line with expectations), representing 0.24% of GDP.The Minister of Finance expects additional stimulus measures to follow, aiming to raise 4Q25E economic growth by at least 1% (compared to an estimated 0.3% without economic stimulus).

Special Report: Khon La Khrueng Plus To Boost Year-End Purchasing Power

<ul><li>The SET Index is expected to trade sideways up today, though momentum is likely to moderate.</li><li>The Cabinet has approved the Khon La Khrueng Plus scheme with a total budget of Bt44bn (in line with expectations).</li><li>The MPC meeting will be held today, with the outcome expected around 2:00 p.m. Bloomberg Consensus expects the policy rate to be cut from 1.50% to 1.25%, the lowest level in three years.</li></ul>

The SET Index is expected to trade sideways up today, though momentum is likely to moderate.The Cabinet has approved the Khon La Khrueng Plus scheme with a total budget of Bt44bn (in line with expectations).The MPC meeting will be held today, with the outcome expected around 2:00 p.m. Bloomberg Consensus expects the policy rate to be cut from 1.50% to 1.25%, the lowest level in three years.

Krungthai XSpring Zoom Eng. October 8, 2025

Thailand

GFPT Public Company Limited operates a fully integrated poultry business, encompassing feed mills, breeder and broiler farms, hatcheries, chicken evisceration, and processed food production. The company produces and distributes fresh, frozen, and cooked chicken products, as well as land and aquatic animal feed, for both domestic and international markets. GFPT was founded in 1981 and is headquartered in Bangkok, Thailand.

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GFPT (GFPT TB)

Krungthai XSpring Zoom Eng. October 27, 2025

The SET Index is expected to move in a limited sideways-up pattern today, with the support at 1,300/1,280 and the resistance at 1,322/1,334.

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 24, 2025

The SET Index is expected to trade in a sideways-up pattern today, with the resistance at 1,314 and 1,334 points, and support at 1,300 and 1,280...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 15, 2025

Domestically, the outlook is slightly positive ahead of today’s Economic Cabinet meeting, which may unveil a four-month economic stimulus plan.

Krungthai XSpring

Special Report: Khon La Khrueng Plus To Boost Year-End Purchasing Power

The Minister of Finance expects additional stimulus measures to follow, aiming to raise 4Q25E economic growth by at least 1% (compared to an...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 8, 2025

The MPC meeting will be held today, with the outcome expected around 2:00 p.m. Bloomberg Consensus expects the policy rate to be cut from 1.50% to...

Krungthai XSpring

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