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>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.

<ul><li>Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,180/1,173 points and the resistance at 1,195/1,205 points.</li><li>The medium-term trend remains downward in a zig-zag down pattern, searching for the bottoming-out point within the range of 1,130-1,506 points.</li><li>In the short term, the market has returned to a downtrend direction, and there is a possibility of dropping to a new low below 1,173.13 points, which was established on March 4. </li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,180/1,173 points and the resistance at 1,195/1,205 points.The medium-term trend remains downward in a zig-zag down pattern, searching for the bottoming-out point within the range of 1,130-1,506 points.In the short term, the market has returned to a downtrend direction, and there is a possibility of dropping to a new low below 1,173.13 points, which was established on March 4. 

Watch for Signals from Speech by Fed Chair Powell, Alongside the US Feb. Non-Farm Payrolls Report

<ul><li>Technically, the SET Index is expected to move sideways up, with resistance levels at 1,215 (10-day EMA) and 1,222 points, while the support levels are at 1,193 and 1,185 points.</li><li>In the medium term, the trend remains downward in a zig-zag down pattern, with the index searching for a bottom within the range of 1,130-1,506 points.</li><li>In the short term, the index has re- entered a short-term rally phase after making a new year-low at 1,173.13 points on March 4. </li></ul>

Technically, the SET Index is expected to move sideways up, with resistance levels at 1,215 (10-day EMA) and 1,222 points, while the support levels are at 1,193 and 1,185 points.In the medium term, the trend remains downward in a zig-zag down pattern, with the index searching for a bottom within the range of 1,130-1,506 points.In the short term, the index has re- entered a short-term rally phase after making a new year-low at 1,173.13 points on March 4. 

Thailand

Praram 9 Hospital is a leading private hospital in Bangkok, Thailand, providing a comprehensive range of tertiary care services, including health promotion, preventive healthcare, diagnosis, treatment, and rehabilitation. The hospital offers specialized medical centers such as the Praram 9 Kidney Transplantation Institute and Praram 9 Cardiovascular Institute. It was established in 1992 and is headquartered in Bangkok, Thailand.

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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...

Krungthai XSpring

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...

Krungthai XSpring

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

Watch for Signals from Speech by Fed Chair Powell, Alongside the US Feb. Non-Farm Payrolls Report

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,180/1,173 points and the resistance at 1,195/1,205...

Krungthai XSpring

KTX Zoom: ECB Meeting - MARCH 6, 2025

Technically, the SET Index is expected to move sideways up, with resistance levels at 1,215 (10-day EMA) and 1,222 points, while the support levels...

Krungthai XSpring

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