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 easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses on Thursday.</li><li>We recommend short-term speculative plays in export and industrial estate stocks (DELTA, HANA, KCE, TFG, WHA, AMATA), which should benefit from the improving trade outlook.</li><li>Bank stocks may see increased volatility driven by speculative trading or sell-on-fact activity, which could add short-term pressure to the SET Index.</li></ul>

The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses on Thursday.We recommend short-term speculative plays in export and industrial estate stocks (DELTA, HANA, KCE, TFG, WHA, AMATA), which should benefit from the improving trade outlook.Bank stocks may see increased volatility driven by speculative trading or sell-on-fact activity, which could add short-term pressure to the SET Index.

Krungthai XSpring Zoom Eng. October 20, 2025

<ul><li>The SET Index is expected to trade sideways up today, with the resistance at 1,300/1,313 and the support at 1,280/1,268.</li><li>The Economic Cabinet has approved a new tax deduction measure allowing individuals to claim tourism-related expenses of up to Bt20,000 per person (1x deduction for major cities and 1.5x for secondary cities) between October 29 and December 15.</li><li>Foreign investors turned net buyers of Thai equities for the first time in four days, adding further support to the market.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,300/1,313 and the support at 1,280/1,268.The Economic Cabinet has approved a new tax deduction measure allowing individuals to claim tourism-related expenses of up to Bt20,000 per person (1x deduction for major cities and 1.5x for secondary cities) between October 29 and December 15.Foreign investors turned net buyers of Thai equities for the first time in four days, adding further support to the market.

Krungthai XSpring Zoom Eng. October 16, 2025

<ul><li>Although the market lacked fresh catalysts, Asian bourses rebounded following a strong rally in the Nasdaq.</li><li>We expect the index to be volatile due to profit-taking ahead of the long holiday.</li><li>These are clear bullish signals, indicating further upside potential.</li></ul>

Although the market lacked fresh catalysts, Asian bourses rebounded following a strong rally in the Nasdaq.We expect the index to be volatile due to profit-taking ahead of the long holiday.These are clear bullish signals, indicating further upside potential.

Krungthai XSpring Technical Eng. October 10, 2025

<ul><li>The MPC voted 5–2 to keep the policy rate unchanged at 1.50%, contrary to market expectations.</li><li>The pass-through of lower rates should help shorten deposit durations and benefit smaller banks such as TISCO and KKP.</li><li>We view the recent short-term sell-off in financial stocks as a buying opportunity, supported by improving bond market sentiment, lower deposit rates, and grassroots economic stimulus measures.</li></ul>

The MPC voted 5–2 to keep the policy rate unchanged at 1.50%, contrary to market expectations.The pass-through of lower rates should help shorten deposit durations and benefit smaller banks such as TISCO and KKP.We view the recent short-term sell-off in financial stocks as a buying opportunity, supported by improving bond market sentiment, lower deposit rates, and grassroots economic stimulus measures.

Banking And Financial Group: MPC Holds Rates — Short-Term Dip In Financials Opens A Buy Window

<ul><li>The SET opened with a rebound ahead of the MPC meeting, supported by gains in DELTA and BAM.</li><li>We believe the index’s upward momentum is not yet over and expect it to hold above the 1,300-point level.</li><li>Meanwhile, blue-chip stocks have taken the lead, supported by strength in the banking sector.</li></ul>

The SET opened with a rebound ahead of the MPC meeting, supported by gains in DELTA and BAM.We believe the index’s upward momentum is not yet over and expect it to hold above the 1,300-point level.Meanwhile, blue-chip stocks have taken the lead, supported by strength in the banking sector.

Krungthai XSpring Technical Eng. October 9, 2025

Thailand

Kiatnakin Phatra Bank Public Company Limited is a full-service commercial bank based in Thailand, offering a wide range of financial products and services to individual, business, corporate, and institutional clients. Its offerings include deposits, various types of loans (auto, personal, home, SME), investment products, and digital banking services. The company is headquartered in Bangkok, Thailand, and was founded in 1971.

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Kiatnakin Phatra Bank (KKP TB)

Krungthai XSpring Zoom Eng. October 20, 2025

The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 16, 2025

The Economic Cabinet has approved a new tax deduction measure allowing individuals to claim tourism-related expenses of up to Bt20,000 per person...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 10, 2025

Although the market lacked fresh catalysts, Asian bourses rebounded following a strong rally in the Nasdaq. We expect the index to be volatile due...

Krungthai XSpring

Banking And Financial Group: MPC Holds Rates — Short-Term Dip In Financials Opens A Buy Window

We view the recent short-term sell-off in financial stocks as a buying opportunity, supported by improving bond market sentiment, lower deposit...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 9, 2025

The SET opened with a rebound ahead of the MPC meeting, supported by gains in DELTA and BAM.We believe the index’s upward momentum is not yet over...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

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