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.

Technical Analysis

<ul><li>Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling pressure.</li><li>The index rose for the fifth consecutive session, maintaining a higher-high pattern as blue-chip stocks took turns leading the market.</li><li>We recommend buying on weakness, as the index remains highly volatile.</li></ul>

Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling pressure.The index rose for the fifth consecutive session, maintaining a higher-high pattern as blue-chip stocks took turns leading the market.We recommend buying on weakness, as the index remains highly volatile.

Krungthai XSpring Technical Eng. - October 8, 2026

Cross Asset Strategy

<ul>
<li>Thai electronics stocks continue to benefit from global technology gains, although prices increasingly reflect an Al valuation premium.</li>
<li>Oil supply tightness is easing, with September Middle East crude exports recovering to 81% of pre-war levels.</li>
<li>The World Bank raised its 2026 Thailand GDP growth forecast to 2.0% from 1.3%, driven by Al-related component exports.</li>
</ul>


Thai electronics stocks continue to benefit from global technology gains, although prices increasingly reflect an Al valuation premium.
Oil supply tightness is easing, with September Middle East crude exports recovering to 81% of pre-war levels.
The World Bank raised its 2026 Thailand GDP growth forecast to 2.0% from 1.3%, driven by Al-related component exports.


PTT Exploration & Production / Technical Analysis

<ul><li>The SET Index declined in line with Asian markets amid concerns over the US-Iran conflict, rising oil prices, higher US Treasury yields, and expectations that the Fed will keep interest rates elevated for longer.</li><li>A drop below 1,574 points could therefore pave the way for a retest of the previous base at around 1,550 points.</li><li>We recommend staying on the sidelines if the index falls below support at 1,574 points, as downside risk would increase.</li></ul>

The SET Index declined in line with Asian markets amid concerns over the US-Iran conflict, rising oil prices, higher US Treasury yields, and expectations that the Fed will keep interest rates elevated for longer.A drop below 1,574 points could therefore pave the way for a retest of the previous base at around 1,550 points.We recommend staying on the sidelines if the index falls below support at 1,574 points, as downside risk would increase.

Krungthai XSpring Technical Eng. - September 3, 2026

<ul>
<li>(+)The CME FedWatch Tool shows a 22.1% probability of an October Fed rate hike, down from 64.2% the previous week, following weaker-than-expected US jobs data.</li>
<li>(-) Brent crude holds above USD100/bbl despite the G7 agreeing to release emergency oil reserves, as Middle East tensions persist.</li>
<li>(+) The government is seeking Bt75bn in loan funding for the "Solar for the People" program, offering Bt50,000 per household to cover 1.5mn homes.</li>
</ul>


(+)The CME FedWatch Tool shows a 22.1% probability of an October Fed rate hike, down from 64.2% the previous week, following weaker-than-expected US jobs data.
(-) Brent crude holds above USD100/bbl despite the G7 agreeing to release emergency oil reserves, as Middle East tensions persist.
(+) The government is seeking Bt75bn in loan funding for the "Solar for the People" program, offering Bt50,000 per household to cover 1.5mn homes.


<ul>
<li>The SET Index came under pressure from several negative factors, including escalating tensions in the Middle East, rising US bond yields, and a sell-off in semiconductor stocks across Asian markets.</li>
<li>We therefore expect the index to remain above 1,600 points for now.</li>
<li>We continue to recommend buying on weakness, as the index has yet to show a clear bearish signal and still has the potential to rebound.</li>
</ul>


The SET Index came under pressure from several negative factors, including escalating tensions in the Middle East, rising US bond yields, and a sell-off in semiconductor stocks across Asian markets.
We therefore expect the index to remain above 1,600 points for now.
We continue to recommend buying on weakness, as the index has yet to show a clear bearish signal and still has the potential to rebound.


Krungthai XSpring Technical Eng. August 25, 2026

Thailand

PTT Exploration and Production Public Company Limited, also known as PTTEP, is a national petroleum exploration and production company. It focuses on the exploration, development, and production of petroleum, including crude oil, natural gas, condensate, and liquified petroleum gas. The company also invests in renewable energy and related businesses, such as gas pipeline transportation and solar power. Headquartered in Bangkok, Thailand, the company was founded on June 20, 1985.

PTT Exploration and Production (PTTEP-R TB)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

PTT Exploration and Production (PTTEP-R TB)

Krungthai XSpring Technical Eng. - October 8, 2026

Concerns over oil prices following a Houthi attack on Saudi Arabia and profit-taking across Asian markets initially put the SET under selling...

Krungthai XSpring

SET Index Outlook

Thai electronics stocks continue to benefit from global technology gains, although prices increasingly reflect an Al valuation premium. Oil supply...

Krungthai XSpring

Krungthai XSpring Technical Eng. - September 3, 2026

The SET Index declined in line with Asian markets amid concerns over the US-Iran conflict, rising oil prices, higher US Treasury yields, and...

Krungthai XSpring

SET Index Outlook

(+)The CME FedWatch Tool shows a 22.1% probability of an October Fed rate hike, down from 64.2% the previous week, following weaker-than-expected...

Krungthai XSpring

Krungthai XSpring Technical Eng. August 25, 2026

The SET Index came under pressure from several negative factors, including escalating tensions in the Middle East, rising US bond yields, and a...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)