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>No changes were made to the KTX Tactical Portfolio.</li><li>The banking sector’s outperformance continued to support the portfolio’s average return, which rose 0.55%, in line with the SET’s +0.55%, aided by strength in the electronics, energy, and petrochemical sectors.</li><li>KTX’s Tactical Picks portfolio is constructed within SET100 Index constituents.</li></ul>

No changes were made to the KTX Tactical Portfolio.The banking sector’s outperformance continued to support the portfolio’s average return, which rose 0.55%, in line with the SET’s +0.55%, aided by strength in the electronics, energy, and petrochemical sectors.KTX’s Tactical Picks portfolio is constructed within SET100 Index constituents.

KTX Tactical Picks - October 22, 2025 (Eng.)

<ul><li>The SET rose for the second consecutive day, moving in line with other Asian markets, supported by growing expectations that the Fed will cut interest rates and easing concerns over the US–China trade conflict.</li><li>We maintain our recommendation to buy on dips during periods of low trading volume, as the index may remain volatile and prone to quick pullbacks.</li><li>The index continues to climb gradually, with intraday pullbacks and light trading volume.</li></ul>

The SET rose for the second consecutive day, moving in line with other Asian markets, supported by growing expectations that the Fed will cut interest rates and easing concerns over the US–China trade conflict.We maintain our recommendation to buy on dips during periods of low trading volume, as the index may remain volatile and prone to quick pullbacks.The index continues to climb gradually, with intraday pullbacks and light trading volume.

Krungthai XSpring Technical Eng. October 22, 2025

<ul><li>The SET rebounded in line with other Asian markets amid easing US–China trade tensions and growing optimism over 3Q25 bank earnings and new economic stimulus measures.</li><li>Recently, the index has fluctuated sharply but managed to sustain its upward momentum toward the 1,300-point level.</li><li>Therefore, we recommend buying on dips, as the index may see short-term pullbacks until trading volume strengthens.</li></ul>

The SET rebounded in line with other Asian markets amid easing US–China trade tensions and growing optimism over 3Q25 bank earnings and new economic stimulus measures.Recently, the index has fluctuated sharply but managed to sustain its upward momentum toward the 1,300-point level.Therefore, we recommend buying on dips, as the index may see short-term pullbacks until trading volume strengthens.

Krungthai XSpring Technical Eng. October 21, 2025

<ul><li>The issue of bad debts among US regional banks pressured Asian markets, which were already weighed down by renewed concerns over a US–China trade war.</li><li>Despite the steep decline, trading volume remained light, and the index continued to move sideways.</li><li>Consequently, the downside appears limited, presenting an opportunity for accumulation. We therefore recommend buying on dips.</li></ul>

The issue of bad debts among US regional banks pressured Asian markets, which were already weighed down by renewed concerns over a US–China trade war.Despite the steep decline, trading volume remained light, and the index continued to move sideways.Consequently, the downside appears limited, presenting an opportunity for accumulation. We therefore recommend buying on dips.

Krungthai XSpring Technical Eng. October 20, 2025

<ul><li>Although the market lacked new catalysts, the SET surged strongly before easing slightly on profit-taking and renewed foreign selling.</li><li>The index continued to rebound and successfully absorbed selling pressure.</li><li>We maintain a positive outlook on the index; however, given the low trading volume, some volatility is likely to persist.</li></ul>

Although the market lacked new catalysts, the SET surged strongly before easing slightly on profit-taking and renewed foreign selling.The index continued to rebound and successfully absorbed selling pressure.We maintain a positive outlook on the index; however, given the low trading volume, some volatility is likely to persist.

Krungthai XSpring Technical Eng. October 17, 2025

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.

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K Bank (279570 KS)

KTX Tactical Picks - October 22, 2025 (Eng.)

The banking sector’s outperformance continued to support the portfolio’s average return, which rose 0.55%, in line with the SET’s +0.55%, aided by...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 22, 2025

We maintain our recommendation to buy on dips during periods of low trading volume, as the index may remain volatile and prone to quick pullbacks.

Krungthai XSpring

Krungthai XSpring Technical Eng. October 21, 2025

The SET rebounded in line with other Asian markets amid easing US–China trade tensions and growing optimism over 3Q25 bank earnings and new...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 20, 2025

The issue of bad debts among US regional banks pressured Asian markets, which were already weighed down by renewed concerns over a US–China trade war.

Krungthai XSpring

Krungthai XSpring Technical Eng. October 17, 2025

Although the market lacked new catalysts, the SET surged strongly before easing slightly on profit-taking and renewed foreign selling.

Krungthai XSpring

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