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>Crude oil prices remain below USD80/bbl as shipping through the Strait of Hormuz has resumed normal operations.</li><li>The government is set to launch the "Thailand Fast Pass" initiative this afternoon to remove legal and investment bottlenecks.</li><li>The Joint Public-Private Consultative Committee aims to drive GDP growth above 3% through enhanced trade and investment development.</li></ul>

Crude oil prices remain below USD80/bbl as shipping through the Strait of Hormuz has resumed normal operations.The government is set to launch the "Thailand Fast Pass" initiative this afternoon to remove legal and investment bottlenecks.The Joint Public-Private Consultative Committee aims to drive GDP growth above 3% through enhanced trade and investment development.

Krungthai XSpring Zoom Eng. June 23, 2026

<ul><li>The MPC's cumulative six policy rate cuts (totalling 150 bps) since late 2024, which have brought the policy rate to its lowest level in three years, have already provided substantial support against the risk of a slowdown in the Thai economy.</li><li>This suggests that interest rates have already bottomed out.</li><li>On the other hand, the MPC may revise its inflation forecast lower, as the year-to-date (YTD) average crude oil price has remained below its previous assumption.</li></ul>

The MPC's cumulative six policy rate cuts (totalling 150 bps) since late 2024, which have brought the policy rate to its lowest level in three years, have already provided substantial support against the risk of a slowdown in the Thai economy.This suggests that interest rates have already bottomed out.On the other hand, the MPC may revise its inflation forecast lower, as the year-to-date (YTD) average crude oil price has remained below its previous assumption.

KTX AHEAD: Stronger-Than-Expected Growth Confirms Rate Trough, Favoring Domestic Plays

<ul><li>The Fed unanimously voted to keep the policy rate unchanged at 3.50–3.75%, in line with expectations, but signaled one rate hike in 2026.</li><li>US and Iranian media outlets reported that the US and Iran have electronically signed a peace agreement, resulting in the immediate reopening of the Strait of Hormuz.</li><li>Crude oil prices continued to decline, increasing the likelihood that refining margins could fall to single-digit levels.</li></ul>

The Fed unanimously voted to keep the policy rate unchanged at 3.50–3.75%, in line with expectations, but signaled one rate hike in 2026.US and Iranian media outlets reported that the US and Iran have electronically signed a peace agreement, resulting in the immediate reopening of the Strait of Hormuz.Crude oil prices continued to decline, increasing the likelihood that refining margins could fall to single-digit levels.

Krungthai XSpring Zoom Eng. June 18, 2026

Equity Bottom-Up

<ul><li>Humanoid Technology stocks are correcting on reports of OpenAI's revenue miss and concerns over AI investment returns.</li><li>Brent crude remains elevated amid Middle East tensions and a hurricane approaching the US coast, benefiting PTTEP, SPRC and BCP.</li><li>GrabFood reports over 20mn orders from restaurants participating in phase one of Thai Chuai Thai Plus, doubling their average sales.</li></ul>

Humanoid Technology stocks are correcting on reports of OpenAI's revenue miss and concerns over AI investment returns.Brent crude remains elevated amid Middle East tensions and a hurricane approaching the US coast, benefiting PTTEP, SPRC and BCP.GrabFood reports over 20mn orders from restaurants participating in phase one of Thai Chuai Thai Plus, doubling their average sales.

<ul><li>Crude oil prices have fallen below USD80/bbl ahead of the reopening of the Strait of Hormuz this Friday.</li><li>Since the beginning of the year, foreign investors have been net buyers of Thai equities, with cumulative net inflows of more than Bt24.6bn (USD789mn).</li><li>THAI announced that shares issued through its debt-to-equity conversion program will become fully eligible for trading on August 3, 2026.</li></ul>

Crude oil prices have fallen below USD80/bbl ahead of the reopening of the Strait of Hormuz this Friday.Since the beginning of the year, foreign investors have been net buyers of Thai equities, with cumulative net inflows of more than Bt24.6bn (USD789mn).THAI announced that shares issued through its debt-to-equity conversion program will become fully eligible for trading on August 3, 2026.

Krungthai XSpring Zoom Eng. June 17, 2026

South Korea

K Bank Co. Ltd. operates banking businesses. The Company provides deposits, withdrawals, loans, and other services. K Bank conducts businesses in South Korea.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

K Bank (279570 KS)

Krungthai XSpring Zoom Eng. June 23, 2026

The Joint Public-Private Consultative Committee aims to drive GDP growth above 3% through enhanced trade and investment development.

Krungthai XSpring

KTX AHEAD: Stronger-Than-Expected Growth Confirms Rate Trough, Favoring Domestic Plays

On the other hand, the MPC may revise its inflation forecast lower, as the year-to-date (YTD) average crude oil price has remained below its...

Krungthai XSpring

Krungthai XSpring Zoom Eng. June 18, 2026

The Fed unanimously voted to keep the policy rate unchanged at 3.50–3.75%, in line with expectations, but signaled one rate hike in 2026.

Krungthai XSpring

SET Index OUTLOOK

Humanoid Technology stocks are correcting on reports of OpenAI's revenue miss and concerns over AI investment returns. Brent crude remains...

Krungthai XSpring

Krungthai XSpring Zoom Eng. June 17, 2026

THAI announced that shares issued through its debt-to-equity conversion program will become fully eligible for trading on August 3, 2026.

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)