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 US 10Y bond yield edged down slightly from 4.19% to 4.18% after the New York Fed President commented that the US economy is likely to continue expanding in 2026, while inflation is expected to slow from 3% this year to 2.5% and 2.0% in 2026–27, respectively, though he remained cautious ahead of the FOMC meeting on January 2026.</li><li>The Bank of Thailand (BoT) has instructed financial institutions to tighten scrutiny over forward foreign-exchange selling transactions by gold traders, which could increase baht volatility.</li><li>The PTT group confirmed that it has not exported oil to Cambodia, in line with its policy to suspend exports since June 2025, which has been strictly adhered to throughout the ongoing situation.</li></ul>

The US 10Y bond yield edged down slightly from 4.19% to 4.18% after the New York Fed President commented that the US economy is likely to continue expanding in 2026, while inflation is expected to slow from 3% this year to 2.5% and 2.0% in 2026–27, respectively, though he remained cautious ahead of the FOMC meeting on January 2026.The Bank of Thailand (BoT) has instructed financial institutions to tighten scrutiny over forward foreign-exchange selling transactions by gold traders, which could increase baht volatility.The PTT group confirmed that it has not exported oil to Cambodia, in line with its policy to suspend exports since June 2025, which has been strictly adhered to throughout the ongoing situation.

Krungthai XSpring Zoom Eng. December 16, 2025

<ul><li>The SET Index is expected to trade flat today, with support at 1,250/1,230 points and resistance at 1,264/1,278 points.</li><li>Domestically, fundamentals can be seen as slightly positive, but the Thai stock market may still lack incoming fund flows to sustain it.</li><li>Part of the move may be due to foreign fund inflows into Thai financial markets: on Friday foreign investors bought Thai fixed income securities worth Bt10.4bn., the largest daily purchase in a month.</li></ul>

The SET Index is expected to trade flat today, with support at 1,250/1,230 points and resistance at 1,264/1,278 points.Domestically, fundamentals can be seen as slightly positive, but the Thai stock market may still lack incoming fund flows to sustain it.Part of the move may be due to foreign fund inflows into Thai financial markets: on Friday foreign investors bought Thai fixed income securities worth Bt10.4bn., the largest daily purchase in a month.

Krungthai XSpring Zoom Eng. December 1, 2025

<ul><li>SET Index today is expected to fluctuate with a slight downward bias.</li><li>Foreign investors switched to net selling Thai stocks yesterday, totaling THB 874 million.</li><li>Monitor the Bank of Thailand’s (BOT) October monthly economic report.</li></ul>

SET Index today is expected to fluctuate with a slight downward bias.Foreign investors switched to net selling Thai stocks yesterday, totaling THB 874 million.Monitor the Bank of Thailand’s (BOT) October monthly economic report.

Krungthai XSpring Zoom Eng. November 28, 2025

<ul><li>The SET also rebounded but struggled to gain further traction before pulling back, weighed down by profit-taking in blue-chip stocks, particularly DELTA and ADVANC.</li><li>The index retreated toward the 1,250–1,230 support zone after rising for just one day, suggesting a return to its previous pattern of repeatedly retesting this level.</li><li>Therefore, we maintain our strategy of buying on dips and selling on rises, as the index is still expected to hold above its support zone.</li></ul>

The SET also rebounded but struggled to gain further traction before pulling back, weighed down by profit-taking in blue-chip stocks, particularly DELTA and ADVANC.The index retreated toward the 1,250–1,230 support zone after rising for just one day, suggesting a return to its previous pattern of repeatedly retesting this level.Therefore, we maintain our strategy of buying on dips and selling on rises, as the index is still expected to hold above its support zone.

Krungthai XSpring Technical Eng. November 27, 2025

<ul><li>Asian bourses rebounded in line with the Dow Jones on expectations of a potential Fed rate cut.</li><li>The index rebounded from the 1,250–1,230 support zone, reinforcing the strength of this level and its potential to form a solid base.</li><li>We recommend buying on dips and selling on rises, given the index’s firm hold above the 1,250–1,230 support zone and its swift rebound.</li></ul>

Asian bourses rebounded in line with the Dow Jones on expectations of a potential Fed rate cut.The index rebounded from the 1,250–1,230 support zone, reinforcing the strength of this level and its potential to form a solid base.We recommend buying on dips and selling on rises, given the index’s firm hold above the 1,250–1,230 support zone and its swift rebound.

Krungthai XSpring Technical Eng. November 26, 2025

Thailand

Moshi Moshi Retail Corporation Public Company Limited engages in the retail and wholesale of diverse, modern, and quality lifestyle products at affordable prices in Thailand. The company offers a wide range of products across approximately 13 categories, including home furnishings, stationery, bags, plush toys, apparel, fashion accessories, beauty products, cosmetics, IT gadgets, toys, food, snacks, and pet accessories, sold through its branches and online channels. Founded in 1973, the company is headquartered in Bangkok, Thailand.

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Moshi Moshi Retail (MOSHI TB)

Krungthai XSpring Zoom Eng. December 16, 2025

The Bank of Thailand (BoT) has instructed financial institutions to tighten scrutiny over forward foreign-exchange selling transactions by gold...

Krungthai XSpring

Krungthai XSpring Zoom Eng. December 1, 2025

Domestically, fundamentals can be seen as slightly positive, but the Thai stock market may still lack incoming fund flows to sustain it.

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 28, 2025

SET Index today is expected to fluctuate with a slight downward bias. Foreign investors switched to net selling Thai stocks yesterday, totaling THB...

Krungthai XSpring

Krungthai XSpring Technical Eng. November 27, 2025

The SET also rebounded but struggled to gain further traction before pulling back, weighed down by profit-taking in blue-chip stocks, particularly...

Krungthai XSpring

Krungthai XSpring Technical Eng. November 26, 2025

Asian bourses rebounded in line with the Dow Jones on expectations of a potential Fed rate cut. The index rebounded from the 1,250–1,230 support...

Krungthai XSpring

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