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 rallied strongly for the third consecutive day, despite a decline in banking stocks due to concerns over potential interest rate cuts.</li><li>Robust buying activity in energy, finance, transportation, commerce, tourism, electronics, and food sectors, combined with the absence of significant negative market factors, helped the index overcome profit-taking pressure and remain on track toward the 1,200-point level.</li><li>The index surged alongside positive technical signals, including a steadily rising RSI that remains far from the overbought zone and the MACD that may have a golden cross signal.</li></ul>

The SET rallied strongly for the third consecutive day, despite a decline in banking stocks due to concerns over potential interest rate cuts.Robust buying activity in energy, finance, transportation, commerce, tourism, electronics, and food sectors, combined with the absence of significant negative market factors, helped the index overcome profit-taking pressure and remain on track toward the 1,200-point level.The index surged alongside positive technical signals, including a steadily rising RSI that remains far from the overbought zone and the MACD that may have a golden cross signal.

<ul><li>The SET managed to move up against concerns over the US imposing 30% tariffs on the EU and Mexico while most Asian bourses rebounded due to the market hopes for trade negotiations with the US.</li><li>Buying activities flowed into large-cap stocks, particularly in the energy, banking, transportation, commerce, electronic, food and healthcare sectors.</li><li>Meanwhile, foreign investors kept buying for the fifth consecutive day</li></ul>

The SET managed to move up against concerns over the US imposing 30% tariffs on the EU and Mexico while most Asian bourses rebounded due to the market hopes for trade negotiations with the US.Buying activities flowed into large-cap stocks, particularly in the energy, banking, transportation, commerce, electronic, food and healthcare sectors.Meanwhile, foreign investors kept buying for the fifth consecutive day

<ul><li>Trade negotiations between the US and Thailand showed no progress ahead of next week's deadline.</li><li>Combined with the absence of new market catalysts, this prompted investors to reduce risk or take profit following a four-day rebound.</li><li>As a result, blue-chip stocks declined, putting pressure on the SET Index. </li></ul>

Trade negotiations between the US and Thailand showed no progress ahead of next week's deadline.Combined with the absence of new market catalysts, this prompted investors to reduce risk or take profit following a four-day rebound.As a result, blue-chip stocks declined, putting pressure on the SET Index. 

<ul><li>Political tensions appeared to ease, but the SET remained volatile within a narrow range due to the absence of strong supporting factors, coupled with short-term selling pressure — particularly in ADVANC, AOT, CPF, and BDMS.</li><li>But this did not derail the broader rebound trend.</li><li>The declining trading volume suggested consolidation, before the index ultimately moved higher, supported by gains in banking stocks, China-related plays, and continued buying by domestic funds</li></ul>

Political tensions appeared to ease, but the SET remained volatile within a narrow range due to the absence of strong supporting factors, coupled with short-term selling pressure — particularly in ADVANC, AOT, CPF, and BDMS.But this did not derail the broader rebound trend.The declining trading volume suggested consolidation, before the index ultimately moved higher, supported by gains in banking stocks, China-related plays, and continued buying by domestic funds

<ul><li>The SET initially moved in a tight range amid a lack of clear catalysts, while political issue exerted some pressure.</li><li>However, the index surprised in the afternoon session by surging sharply, driven by strong buying in blue-chip stocks such as DELTA, ADVANC, GULF, KTC, and banking shares — despite the Constitutional Court accepting the petition related to the audio clip case and ordering the Prime Minister to suspend duties.</li><li>The index rebounded sharply above the 1,100-point level — exceeding expectations — and remains on track to retest the one- third Fibonacci resistance at 1,116 points.</li></ul>

The SET initially moved in a tight range amid a lack of clear catalysts, while political issue exerted some pressure.However, the index surprised in the afternoon session by surging sharply, driven by strong buying in blue-chip stocks such as DELTA, ADVANC, GULF, KTC, and banking shares — despite the Constitutional Court accepting the petition related to the audio clip case and ordering the Prime Minister to suspend duties.The index rebounded sharply above the 1,100-point level — exceeding expectations — and remains on track to retest the one- third Fibonacci resistance at 1,116 points.

Thailand

Krung Thai Bank Public Company Limited is a state-owned commercial bank in Thailand, providing a comprehensive range of financial services including retail banking, corporate lending, and digital platforms like Krungthai NEXT and PaoTang. The bank offers various products such as deposits, loans, credit cards, insurance, and investment solutions to individual, business, and government clients. It was founded on March 14, 1966, and is headquartered in Bangkok, Thailand.

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