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 surged as fund inflows extended for the fourth consecutive day (with only two net selling sessions so far this month).</li><li>The index has surged 63.5 points over the past four sessions and 168.29 points so far this month, pushing it into overbought territory.</li><li>Therefore, we recommend buying on weakness and selling into strength.</li></ul>

The SET surged as fund inflows extended for the fourth consecutive day (with only two net selling sessions so far this month).The index has surged 63.5 points over the past four sessions and 168.29 points so far this month, pushing it into overbought territory.Therefore, we recommend buying on weakness and selling into strength.

Krungthai XSpring Technical Eng. February 20, 2026

<ul><li>However, the SET maintained its positive momentum, supported by continued fund inflows, 4Q25 earnings results, and political developments.</li><li>The index was volatile, briefly slipping into negative territory during intraday trading.</li><li>Nonetheless, we recommend buying on weakness and selling on strength, as the index still has room to advance—particularly while fund inflows persist.</li></ul>

However, the SET maintained its positive momentum, supported by continued fund inflows, 4Q25 earnings results, and political developments.The index was volatile, briefly slipping into negative territory during intraday trading.Nonetheless, we recommend buying on weakness and selling on strength, as the index still has room to advance—particularly while fund inflows persist.

Krungthai XSpring Technical Eng. February 19, 2026

<ul><li>Today’s SET Index is expected to extend its gains, but fund flow momentum should be monitored closely.</li><li>The Fed Minutes from the January meeting signaled a slightly more hawkish tone overall.</li><li>The Election Commission (EC) has now reported the results for all 400 constituencies.</li></ul>

Today’s SET Index is expected to extend its gains, but fund flow momentum should be monitored closely.The Fed Minutes from the January meeting signaled a slightly more hawkish tone overall.The Election Commission (EC) has now reported the results for all 400 constituencies.

Krungthai XSpring Zoom Eng. February 19, 2026

<ul><li>Today’s dominant ideas: The SET Index is expected to maintain upward momentum today, although gains may be capped.</li><li>There are continued signs of foreign direct investment (FDI) inflows into Thailand.</li><li>The SET Index closed yesterday at 1,459.68 points (+1.5%), supported by continued fund inflows, with foreign investors recording net buying of Bt3,305mn.</li></ul>

Today’s dominant ideas: The SET Index is expected to maintain upward momentum today, although gains may be capped.There are continued signs of foreign direct investment (FDI) inflows into Thailand.The SET Index closed yesterday at 1,459.68 points (+1.5%), supported by continued fund inflows, with foreign investors recording net buying of Bt3,305mn.

Krungthai XSpring Zoom Eng. February 18, 2026

<ul><li>Asian bourses were closed for the Lunar New Year, except for the Tokyo market, which edged lower.</li><li>However, this had little impact on the SET, as the index continued to rise on positive political sentiment and expectations of fund inflows, which strengthened the rally—particularly in the afternoon session.</li><li>Strong buying interest flowed into CPALL, GULF, TRUE, DELTA, and banking stocks, driving broader market gains, while foreign investors remained net buyers.</li></ul>

Asian bourses were closed for the Lunar New Year, except for the Tokyo market, which edged lower.However, this had little impact on the SET, as the index continued to rise on positive political sentiment and expectations of fund inflows, which strengthened the rally—particularly in the afternoon session.Strong buying interest flowed into CPALL, GULF, TRUE, DELTA, and banking stocks, driving broader market gains, while foreign investors remained net buyers.

Krungthai XSpring Technical Eng. February 18, 2026

Thailand

Global Power Synergy Public Company Limited is a utility company that primarily engages in the production and distribution of electricity, steam, and industrial water to government and industrial customers. The company also focuses on developing sustainable businesses through renewable energy resources and cutting-edge technologies, including energy storage systems and batteries for electric vehicles. It was founded in 2013 and is headquartered in Bangkok, Thailand.

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Global Power Synergy (GPSC TB)

Krungthai XSpring Technical Eng. February 20, 2026

The SET surged as fund inflows extended for the fourth consecutive day (with only two net selling sessions so far this month).

Krungthai XSpring

Krungthai XSpring Technical Eng. February 19, 2026

However, the SET maintained its positive momentum, supported by continued fund inflows, 4Q25 earnings results, and political developments.

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 19, 2026

Today’s SET Index is expected to extend its gains, but fund flow momentum should be monitored closely.The Fed Minutes from the January meeting...

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 18, 2026

The SET Index closed yesterday at 1,459.68 points (+1.5%), supported by continued fund inflows, with foreign investors recording net buying of...

Krungthai XSpring

Krungthai XSpring Technical Eng. February 18, 2026

Strong buying interest flowed into CPALL, GULF, TRUE, DELTA, and banking stocks, driving broader market gains, while foreign investors remained net...

Krungthai XSpring

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Market Cap (USDm)

P/E

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