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 edged higher for the second consecutive day, despite ongoing profit-taking pressure and the lack of new catalysts, as well as the impact from the MSCI rebalancing.</li><li>DELTA's rebound played a key role in supporting the index, while the market focused on the 1Q25 earnings and DR (depositary receipt) stocks.</li><li>The index remains on track to test the resistance at 1,221 points.</li></ul>

The SET edged higher for the second consecutive day, despite ongoing profit-taking pressure and the lack of new catalysts, as well as the impact from the MSCI rebalancing.DELTA's rebound played a key role in supporting the index, while the market focused on the 1Q25 earnings and DR (depositary receipt) stocks.The index remains on track to test the resistance at 1,221 points.

<ul><li>The SET Index initially surged to 1,231.02 points, supported by optimism surrounding the US-China trade negotiations.</li><li>However, buying activity remained concentrated in blue-chip stocks already favored by the market, as well as China-related plays such as SCC, PTTGC, IVL, and DELTA, which continued to gain.</li><li>Despite the strong start, profit-taking pressure eventually weighed on the index, prompting a pullback.</li></ul>

The SET Index initially surged to 1,231.02 points, supported by optimism surrounding the US-China trade negotiations.However, buying activity remained concentrated in blue-chip stocks already favored by the market, as well as China-related plays such as SCC, PTTGC, IVL, and DELTA, which continued to gain.Despite the strong start, profit-taking pressure eventually weighed on the index, prompting a pullback.

<ul><li>KTX expects the index to remain volatile, with the resistance levels at 1,220/1,250 points and the support at 1,170/1,150 points.</li><li>Positive factors include a return of buying in risk assets, particularly if Trump eases tariff measures — such as delaying tariffs on specific sectors like automobiles and semiconductors, and signaling a reduction in reciprocal tariffs for US trading partners making progress in negotiations (e.g., South Korea, Japan); and if China announces details of a new economic stimulus package.</li><li>On the domestic front, key factors to watch include the successful launch of the TESG Extra Fund, expected to generate Bt15-20bn in new capital inflows, and progress in Thailand’s negotiations on reciprocal tariffs with the US, along with the government’s gradual rollout of economic stimulus measures to offset trade war impacts (notably, the IMF has cut its 2025E global GDP growth forecast from 2.9% to 1.8%).</li></ul>

KTX expects the index to remain volatile, with the resistance levels at 1,220/1,250 points and the support at 1,170/1,150 points.Positive factors include a return of buying in risk assets, particularly if Trump eases tariff measures — such as delaying tariffs on specific sectors like automobiles and semiconductors, and signaling a reduction in reciprocal tariffs for US trading partners making progress in negotiations (e.g., South Korea, Japan); and if China announces details of a new economic stimulus package.On the domestic front, key factors to watch include the successful launch of the TESG Extra Fund, expected to generate Bt15-20bn in new capital inflows, and progress in Thailand’s negotiations on reciprocal tariffs with the US, along with the government’s gradual rollout of economic stimulus measures to offset trade war impacts (notably, the IMF has cut its 2025E global GDP growth forecast from 2.9% to 1.8%).

<ul><li>The SET initially traded within a narrow range as investors awaited the outcome of the MPC meeting and remained hopeful about progress in US-China trade negotiations.</li><li>However, in the afternoon session, the index advanced sharply, supported by strong buying in DELTA, ADVANC, BH, energy, and banking stocks, reinforcing a continued upward trend.</li><li>Foreign investors also returned as net buyers.</li></ul>

The SET initially traded within a narrow range as investors awaited the outcome of the MPC meeting and remained hopeful about progress in US-China trade negotiations.However, in the afternoon session, the index advanced sharply, supported by strong buying in DELTA, ADVANC, BH, energy, and banking stocks, reinforcing a continued upward trend.Foreign investors also returned as net buyers.

<ul><li>The SET surged to test the resistance at 1,164 points before retreating to fluctuate within a narrow range, due to light trading volume and limited movements among large-cap stocks.</li><li>The index was boosted by gains in DELTA, ADVANC, energy, and banking shares.</li><li>Meanwhile, the market was awaiting new catalysts, particularly the upcoming the MPC meeting results, and Asian bourses moved mixed.</li></ul>

The SET surged to test the resistance at 1,164 points before retreating to fluctuate within a narrow range, due to light trading volume and limited movements among large-cap stocks.The index was boosted by gains in DELTA, ADVANC, energy, and banking shares.Meanwhile, the market was awaiting new catalysts, particularly the upcoming the MPC meeting results, and Asian bourses moved mixed.

Thailand

Praram 9 Hospital PCL operates as a hospital. The Hospital provides medical services that includes, check-ups, diagnoses, skin care, rehabilitation, X-ray, and surgeries, as well as treatment of joint diseases, kidney, high blood pressure, cancer, diabetes, neurology, vertigo, and headache. Praram 9 Hospital serves patients in Thailand.

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Praram 9 Hospital PCL (PR9 TB)

Technical Analysis - MAY 15, 2025

The SET edged higher for the second consecutive day, despite ongoing profit-taking pressure and the lack of new catalysts, as well as the impact...

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Technical Analysis - MAY 14, 2025

However, buying activity remained concentrated in blue-chip stocks already favored by the market, as well as China-related plays such as SCC,...

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Monthly Report: May 2025

Positive factors include a return of buying in risk assets, particularly if Trump eases tariff measures — such as delaying tariffs on specific...

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Technical Analysis - APRIL 30, 2025

The SET initially traded within a narrow range as investors awaited the outcome of the MPC meeting and remained hopeful about progress in US-China...

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Technical Analysis - APRIL 29, 2025

The SET surged to test the resistance at 1,164 points before retreating to fluctuate within a narrow range, due to light trading volume and limited...

Krungthai XSpring

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