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 initially faced profit-taking pressure but recovered gradually on expectations of fund flow returns and optimism over 4Q25 earnings, extending last week’s momentum.</li><li>The index surged for four consecutive days, in line with foreign investors being net buyers for four straight sessions, indicating fund inflows as a key market driver.</li><li>Four consecutive higher white candlesticks, holding above all short-term EMAs, suggest the index is poised to move higher.</li></ul>

The SET initially faced profit-taking pressure but recovered gradually on expectations of fund flow returns and optimism over 4Q25 earnings, extending last week’s momentum.The index surged for four consecutive days, in line with foreign investors being net buyers for four straight sessions, indicating fund inflows as a key market driver.Four consecutive higher white candlesticks, holding above all short-term EMAs, suggest the index is poised to move higher.

Krungthai XSpring Technical Eng. January 20, 2026

Global Editor, Base Oil News

Iain Pocock

Global Editor

Global Base Oils and Lubricants Markets

Base Oil News

Base Oil News focuses on the interplay between fundamentals and prices in the global base oils and lubricants markets.

Baseoilnews.com combines daily, weekly and monthly base oils and lubes fundamentals data from every region of the world to build the most comprehensive and up-to-date global picture of the state of the market.

The data and analysis provide key tools to understand current market developments and opportunities and to anticipate how the market is likely to behave in the coming months.

Base oils producers, lube blenders and consumers can then better plan accordingly.

Baseoilnews.com analyses and publishes market news and data every day as it breaks.

Commodities

<ul><li>More Group II cargoes load from Taiwan before heading to southeast Asia</li><li>Cargo loads from South Korea bound for US, following slowdown in such flows</li><li>Several US cargoes set to reach Nigeria in coming week</li></ul>

More Group II cargoes load from Taiwan before heading to southeast AsiaCargo loads from South Korea bound for US, following slowdown in such flowsSeveral US cargoes set to reach Nigeria in coming week

Global Base Oils Cargo Flows: Week To 16 January

<ul><li>The SET rebounded in line with Asian bourses, even as the market awaited earnings results from banking stocks.</li><li>Although the recovery outlook remains unclear, the emergence of a Harami signal suggests the index is likely to continue rebounding.</li><li>We therefore recommend buying on dips, as the rebound occurred on light volume and clearer positive signals are still needed.</li></ul>

The SET rebounded in line with Asian bourses, even as the market awaited earnings results from banking stocks.Although the recovery outlook remains unclear, the emergence of a Harami signal suggests the index is likely to continue rebounding.We therefore recommend buying on dips, as the rebound occurred on light volume and clearer positive signals are still needed.

Krungthai XSpring Technical Eng. January 15, 2026

<ul><li>The SET halted its decline and rebounded after a surge in DELTA.</li><li>The index stabilized above the 1,250-point support, keeping the price pattern positive and reaffirming the 1,250–1,240 zone as a strong support area.</li><li>We therefore maintain our buy-on-dips recommendation and believe that DELTA’s price movements will continue to have a significant influence on the index.</li></ul>

The SET halted its decline and rebounded after a surge in DELTA.The index stabilized above the 1,250-point support, keeping the price pattern positive and reaffirming the 1,250–1,240 zone as a strong support area.We therefore maintain our buy-on-dips recommendation and believe that DELTA’s price movements will continue to have a significant influence on the index.

Krungthai XSpring Technical Eng. January 12, 2026

<ul>
<li>Wave of cargoes load from Taiwan since start of January, with a larger share of the shipments consisting of heavy grades.</li>
<li>Large cargo from Taiwan heads to India, set to arrive next week.</li>
<li>Cargo loads from Taiwan at end-Dec 2025 before heading to Europe, set to arrive in early-Feb 2026.</li>
</ul>


Wave of cargoes load from Taiwan since start of January, with a larger share of the shipments consisting of heavy grades.
Large cargo from Taiwan heads to India, set to arrive next week.
Cargo loads from Taiwan at end-Dec 2025 before heading to Europe, set to arrive in early-Feb 2026.


Global Base Oils Cargo Flows: Week To 9 January

Thailand

IRPC is an integrated petroleum and petrochemical company, producing a wide range of products including plastic resins, lubricants, and refined petroleum products like gasoline and diesel. The company operates Southeast Asia's first fully integrated petrochemical complex, which includes facilities such as deep-sea ports and power plants. IRPC is headquartered in Bangkok, Thailand, and was founded in 1978.

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IRPC (IRPC TB)

Krungthai XSpring Technical Eng. January 20, 2026

The SET initially faced profit-taking pressure but recovered gradually on expectations of fund flow returns and optimism over 4Q25 earnings,...

Krungthai XSpring

Global Base Oils Cargo Flows: Week To 16 January

More Group II cargoes load from Taiwan before heading to southeast. Asia.Cargo loads from South Korea bound for US, following slowdown in such flows

Base Oil News

Krungthai XSpring Technical Eng. January 15, 2026

Although the recovery outlook remains unclear, the emergence of a Harami signal suggests the index is likely to continue rebounding.

Krungthai XSpring

Krungthai XSpring Technical Eng. January 12, 2026

The index stabilized above the 1,250-point support, keeping the price pattern positive and reaffirming the 1,250–1,240 zone as a strong support area.

Krungthai XSpring

Global Base Oils Cargo Flows: Week To 9 January

Wave of cargoes load from Taiwan since start of January, with a larger share of the shipments consisting of heavy grades. Large cargo from Taiwan...

Base Oil News

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