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 up today, with the resistance at 1,268/1,284 and the support at 1,251/1,238.</li><li>The US Department of Labor released the JOLTS Job Openings survey, showing that job openings—a key measure of labor market demand—fell by 170k to 7.18mn positions in July, below analysts’ forecast of 7.38mn and down from 7.437mn in June.</li><li>The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) projects Thailand’s GDP growth at 1.8–2.2% in 2025, with exports expected to grow 2–3% and inflation at 0.5–1.0%.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,268/1,284 and the support at 1,251/1,238.The US Department of Labor released the JOLTS Job Openings survey, showing that job openings—a key measure of labor market demand—fell by 170k to 7.18mn positions in July, below analysts’ forecast of 7.38mn and down from 7.437mn in June.The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) projects Thailand’s GDP growth at 1.8–2.2% in 2025, with exports expected to grow 2–3% and inflation at 0.5–1.0%.

Krungthai XSpring Zoom Eng. September 4, 2025

Technical Analysis

<ul><li>President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.</li><li>The index also faced added pressure from the MSCI rebalancing, fund outflows (with foreign investors selling for nine consecutive days) and political uncertainties.</li><li>We recommend selective speculation while expecting the index to show limited downside or move sideways in the near term.</li></ul>

President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower.The index also faced added pressure from the MSCI rebalancing, fund outflows (with foreign investors selling for nine consecutive days) and political uncertainties.We recommend selective speculation while expecting the index to show limited downside or move sideways in the near term.

<ul><li>The SET rebounded in line with Asian bourses, boosted by Fed Chair Jerome Powell’s signal of a potential interest rate cut.</li><li>The quick recovery of blue-chip stocks, which had previously declined, strengthened overall market sentiment, as there was no heavy selling pressure to weigh on the index.</li><li>We recommend selective speculation, as the index is expected to continue climbing and stocks are likely to move in a rotation of gains and pullbacks.</li></ul>

The SET rebounded in line with Asian bourses, boosted by Fed Chair Jerome Powell’s signal of a potential interest rate cut.The quick recovery of blue-chip stocks, which had previously declined, strengthened overall market sentiment, as there was no heavy selling pressure to weigh on the index.We recommend selective speculation, as the index is expected to continue climbing and stocks are likely to move in a rotation of gains and pullbacks.

Krungthai XSpring Technical Eng. August 26, 2025

<ul><li>The SET rebounded in line with Asian bourses, boosted by Fed Chair Jerome Powell's signal of a potential interest rate cut.</li><li>The quick recovery of blue-chip stocks, which had previously declined, strengthened overall market sentiment, as there was no heavy selling pressure to weigh on the index.</li><li>We recommend selective speculation, as the index is expected to continue climbing and stocks are likely to move in a rotation of gains and pullbacks.</li></ul>

The SET rebounded in line with Asian bourses, boosted by Fed Chair Jerome Powell's signal of a potential interest rate cut.The quick recovery of blue-chip stocks, which had previously declined, strengthened overall market sentiment, as there was no heavy selling pressure to weigh on the index.We recommend selective speculation, as the index is expected to continue climbing and stocks are likely to move in a rotation of gains and pullbacks.

<ul><li>The SET climbed quickly and traded in positive territory throughout the session, as political concerns eased and investors awaited Jerome Powell's speech at Jackson Hole.</li><li>The index has formed a higher price pattern, signaling a potential reversal, supported by its ability to stay above all the short-term EMA lines.</li><li>We recommend buying on dips and selling on rises, as trading volume remains weak and sector rotation among blue-chip stocks has alternately supported and weighed on the index.</li></ul>

The SET climbed quickly and traded in positive territory throughout the session, as political concerns eased and investors awaited Jerome Powell's speech at Jackson Hole.The index has formed a higher price pattern, signaling a potential reversal, supported by its ability to stay above all the short-term EMA lines.We recommend buying on dips and selling on rises, as trading volume remains weak and sector rotation among blue-chip stocks has alternately supported and weighed on the index.

Krungthai XSpring Technical Eng. August 25, 2025

Thailand

Indorama Ventures is a global petrochemical producer specializing in intermediate petrochemicals and polymers. The company is the world's largest producer of PET resins, and also manufactures polyester fibers and yarns, purified terephthalic acid (PTA), ethylene oxide (EO), and ethylene glycol (EG). Indorama Ventures is headquartered in Bangkok, Thailand, and was founded in 1994.

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Indorama Ventures (IVL TB)

Krungthai XSpring Zoom Eng. September 4, 2025

The US Department of Labor released the JOLTS Job Openings survey, showing that job openings—a key measure of labor market demand—fell by 170k to...

Krungthai XSpring

Recommendation: Selective Speculation

President Trump's threat to raise tariffs on imports from Europe and China pressured Asian markets and the SET to move lower. The index also faced...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 26, 2025

The SET rebounded in line with Asian bourses, boosted by Fed Chair Jerome Powell’s signal of a potential interest rate cut.

Krungthai XSpring

Recommendation: Selective Speculation

The SET rebounded in line with Asian bourses, boosted by Fed Chair Jerome Powell's signal of a potential interest rate cut. The quick recovery of...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 25, 2025

The SET climbed quickly and traded in positive territory throughout the session, as political concerns eased and investors awaited Jerome Powell's...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)