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 lagged other Asian bourses, which were lifted by expectations of US–Iran peace talks, as pressure from DELTA’s Cash Balance status—alongside weakness in PTTEP and banking stocks—weighed on the index.</li><li>The pullback has not turned the price pattern negative, and the uptrend remains intact, with the index holding above the 5- and 10-day EMAs.</li><li>Accordingly, we continue to recommend selective speculation, with the index likely to move sideways to build a base before the next uptrend.</li></ul>

The SET lagged other Asian bourses, which were lifted by expectations of US–Iran peace talks, as pressure from DELTA’s Cash Balance status—alongside weakness in PTTEP and banking stocks—weighed on the index.The pullback has not turned the price pattern negative, and the uptrend remains intact, with the index holding above the 5- and 10-day EMAs.Accordingly, we continue to recommend selective speculation, with the index likely to move sideways to build a base before the next uptrend.

Krungthai XSpring Technical Eng. April 17, 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

<ul><li>The conflict between the US–Israel and Iran shows signs of prolonging, pushing global oil prices above USD100/bbl and raising inflation concerns, which have become a key factor weighing on Asian bourses.</li><li>Fund outflows remain a key internal pressure, while the Middle East conflict represents an external risk factor, increasing volatility in the index.</li><li>As a result, the index may continue to decline, but key support levels should help cushion the downside given the sharp drop already seen.</li></ul>

The conflict between the US–Israel and Iran shows signs of prolonging, pushing global oil prices above USD100/bbl and raising inflation concerns, which have become a key factor weighing on Asian bourses.Fund outflows remain a key internal pressure, while the Middle East conflict represents an external risk factor, increasing volatility in the index.As a result, the index may continue to decline, but key support levels should help cushion the downside given the sharp drop already seen.

Krungthai XSpring Technical Eng. March 10, 2026

<ul><li>As of March 2, 2026, 822 companies in the SET Index (representing 99% of total market capitalization) had reported 4Q25 results, posting combined net profit of Bt236,562mn, down 13.6% QoQ but up 24.0% YoY.</li><li>Excluding energy, petrochemicals, and banks, net profit was Bt103,243mn, beating consensus by 1.6%, rising slightly 0.6% QoQ and 29.4% YoY.</li><li>Among 144 companies with Bloomberg consensus estimates, combined net profit reached Bt203,755mn, down 3.9% QoQ but up 30.6% YoY, slightly beating consensus by 1.9%.</li></ul>

As of March 2, 2026, 822 companies in the SET Index (representing 99% of total market capitalization) had reported 4Q25 results, posting combined net profit of Bt236,562mn, down 13.6% QoQ but up 24.0% YoY.Excluding energy, petrochemicals, and banks, net profit was Bt103,243mn, beating consensus by 1.6%, rising slightly 0.6% QoQ and 29.4% YoY.Among 144 companies with Bloomberg consensus estimates, combined net profit reached Bt203,755mn, down 3.9% QoQ but up 30.6% YoY, slightly beating consensus by 1.9%.

<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

Thailand

Hana Microelectronics engages in the manufacture and trading of electronic components, providing printed circuit board assemblies, integrated circuit assemblies and tests, and LED packaging and test services. It also offers electronics manufacturing and outsourced semiconductor assembly and testing services for various components. The company was founded in 1978 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

Hana Microelectronics (HANA TB)

Krungthai XSpring Technical Eng. April 17, 2026

The pullback has not turned the price pattern negative, and the uptrend remains intact, with the index holding above the 5- and 10-day EMAs.

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

Krungthai XSpring Technical Eng. March 10, 2026

Fund outflows remain a key internal pressure, while the Middle East conflict represents an external risk factor, increasing volatility in the index.

Krungthai XSpring

Special Report: 4Q25 Earnings Summary

Excluding energy, petrochemicals, and banks, net profit was Bt103,243mn, beating consensus by 1.6%, rising slightly 0.6% QoQ and 29.4% YoY.

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)