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 fell sharply on Monday as foreign investors remained net sellers and heavy selling persisted, while the market lacked fresh positive catalysts beyond expectations for government stimulus measures.</li><li>The index plunged sharply, forming a large black candlestick that engulfed the prior white candlestick.</li><li>We maintain our buy-on-weakness recommendation, as the index has fallen sharply and is likely to consolidate sideways while awaiting new catalysts.</li></ul>

The SET fell sharply on Monday as foreign investors remained net sellers and heavy selling persisted, while the market lacked fresh positive catalysts beyond expectations for government stimulus measures.The index plunged sharply, forming a large black candlestick that engulfed the prior white candlestick.We maintain our buy-on-weakness recommendation, as the index has fallen sharply and is likely to consolidate sideways while awaiting new catalysts.

Krungthai XSpring Technical Eng. October 1, 2025

<ul><li>The SET rebounded following the government’s policy statement and in line with most Asian bourses that advanced after the Dow Jones.</li><li>Buying from broker proprietary accounts introduced some volatility, but the index was lifted by a rotation in blue-chip stocks while selling pressure stayed light.</li><li>However, with light volume and the need for stronger fund inflows, the index remains volatile.</li></ul>

The SET rebounded following the government’s policy statement and in line with most Asian bourses that advanced after the Dow Jones.Buying from broker proprietary accounts introduced some volatility, but the index was lifted by a rotation in blue-chip stocks while selling pressure stayed light.However, with light volume and the need for stronger fund inflows, the index remains volatile.

Krungthai XSpring Technical Eng. September 30, 2025

<ul><li>The SET Index is expected to trade sideways today, with the support at 1,284/1,270 and the resistance at 1,300/1,316.</li><li>US equities closed higher (S&amp;P500 +0.26%, NASDAQ +0.48%), supported by the PCE Price Index coming in line with expectations.</li><li>Fitch Ratings has revised the outlook on the long-term foreign-currency issuer default ratings (IDRs) of five Thai banks—EXIM, KTB, TTB, Standard Chartered (Thai), and UOB (Thai)—to Negative from Stable.</li></ul>

The SET Index is expected to trade sideways today, with the support at 1,284/1,270 and the resistance at 1,300/1,316.US equities closed higher (S&amp;P500 +0.26%, NASDAQ +0.48%), supported by the PCE Price Index coming in line with expectations.Fitch Ratings has revised the outlook on the long-term foreign-currency issuer default ratings (IDRs) of five Thai banks—EXIM, KTB, TTB, Standard Chartered (Thai), and UOB (Thai)—to Negative from Stable.

Krungthai XSpring Zoom Eng. September 30, 2025

<ul><li>The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.</li><li>Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.</li><li>We do not anticipate a deep correction in the index and believe it will eventually rebound.</li></ul>

The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.We do not anticipate a deep correction in the index and believe it will eventually rebound.

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

<ul><li>The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.</li><li>The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.</li><li>We expect the index to continue climbing toward the 1,300-point target.</li></ul>

The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.We expect the index to continue climbing toward the 1,300-point target.

Krungthai XSpring Technical Eng. September 26, 2025

South Korea

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KTB Network (298870 KS)

Krungthai XSpring Technical Eng. October 1, 2025

We maintain our buy-on-weakness recommendation, as the index has fallen sharply and is likely to consolidate sideways while awaiting new catalysts.

Krungthai XSpring

Krungthai XSpring Technical Eng. September 30, 2025

The SET rebounded following the government’s policy statement and in line with most Asian bourses that advanced after the Dow Jones.

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 30, 2025

US equities closed higher (S&P500 +0.26%, NASDAQ +0.48%), supported by the PCE Price Index coming in line with expectations.

Krungthai XSpring

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline. We do not anticipate a deep correction in the index...

Krungthai XSpring

Krungthai XSpring Technical Eng. September 26, 2025

The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.

Krungthai XSpring

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