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 war between the US–Israel and Iran weighed on global equity markets. At the same time, the index had previously surged sharply and entered overbought territory, triggering profit-taking and risk-reduction selling.</li><li>The index initially attempted to hold above the 1,500-point level but eventually dropped sharply toward the 1,450–1,448 support zone.</li><li>The index remains at risk of further pullbacks, but the probability of a rebound increases near the support level. We therefore recommend buying at support.</li></ul>

The war between the US–Israel and Iran weighed on global equity markets. At the same time, the index had previously surged sharply and entered overbought territory, triggering profit-taking and risk-reduction selling.The index initially attempted to hold above the 1,500-point level but eventually dropped sharply toward the 1,450–1,448 support zone.The index remains at risk of further pullbacks, but the probability of a rebound increases near the support level. We therefore recommend buying at support.

Krungthai XSpring Technical Eng. March 4, 2026

<ul><li>The SET Index today is expected to face pressure toward support at 1,450/1,430, with resistance at 1,467/1,486.</li><li>We expect the easing pressure on global financial markets to help reduce downside pressure on the Thai market today.</li><li>The Governor of the Bank of Thailand (BOT) commented that the direct impact of Middle East tensions on Thailand’s economy would mainly come through higher inflation.</li></ul>

The SET Index today is expected to face pressure toward support at 1,450/1,430, with resistance at 1,467/1,486.We expect the easing pressure on global financial markets to help reduce downside pressure on the Thai market today.The Governor of the Bank of Thailand (BOT) commented that the direct impact of Middle East tensions on Thailand’s economy would mainly come through higher inflation.

Krungthai XSpring Zoom Eng. March 4, 2026

<ul><li>The SET Index is expected to trade lower with heightened volatility today, with support at 1,521/1,506 and resistance at 1,532/1,550.</li><li>We believe rising tensions in the Middle East will push global markets into risk-off mode, at least in the short term.</li><li>Funds are likely to rotate into safer domestic assets, particularly Thai bonds, before returning to equities once tensions ease.</li></ul>

The SET Index is expected to trade lower with heightened volatility today, with support at 1,521/1,506 and resistance at 1,532/1,550.We believe rising tensions in the Middle East will push global markets into risk-off mode, at least in the short term.Funds are likely to rotate into safer domestic assets, particularly Thai bonds, before returning to equities once tensions ease.

Krungthai XSpring Zoom Eng. March 2, 2026

<ul><li>Nvidia (NVDA80) reported FY4Q26 results above expectations, extending its record-high performance.</li><li>The MPC unexpectedly cut the policy rate to 1.00%, the lowest in three years and four months.</li><li>The MPC also signaled that rates have likely bottomed out, assuming the economic outlook remains on track.</li></ul>

Nvidia (NVDA80) reported FY4Q26 results above expectations, extending its record-high performance.The MPC unexpectedly cut the policy rate to 1.00%, the lowest in three years and four months.The MPC also signaled that rates have likely bottomed out, assuming the economic outlook remains on track.

Krungthai XSpring Zoom Eng. February 26, 2026

<ul><li>The SET Index is expected to extend its gains today, with resistance at 1,500/1,507 points and support at 1,461/1,444 points.</li><li>The upside is supported by crude oil prices hitting a near six-month high, which should benefit oil and refinery stocks, alongside continued fund inflows.</li><li>The SET Index yesterday closed at 1,491.06, up 1.86%, supported by continued foreign buying, with net inflows of Bt4,873mn.</li></ul>

The SET Index is expected to extend its gains today, with resistance at 1,500/1,507 points and support at 1,461/1,444 points.The upside is supported by crude oil prices hitting a near six-month high, which should benefit oil and refinery stocks, alongside continued fund inflows.The SET Index yesterday closed at 1,491.06, up 1.86%, supported by continued foreign buying, with net inflows of Bt4,873mn.

Krungthai XSpring Zoom Eng. February 20, 2026

Thailand

PTT Exploration & Production is a national petroleum exploration and production company engaged in the exploration, development, and production of oil and gas both domestically and internationally. The company also invests in renewable energy and related activities, aiming for sustainable growth and a low-carbon future. It is headquartered in Bangkok, Thailand, and was founded on June 20, 1985.

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PTT Exploration & Production (PTTEP TB)

Krungthai XSpring Technical Eng. March 4, 2026

The index remains at risk of further pullbacks, but the probability of a rebound increases near the support level. We therefore recommend buying at...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 4, 2026

The SET Index today is expected to face pressure toward support at 1,450/1,430, with resistance at 1,467/1,486. We expect the easing pressure on...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 2, 2026

The SET Index is expected to trade lower with heightened volatility today, with support at 1,521/1,506 and resistance at 1,532/1,550.

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 26, 2026

Nvidia (NVDA80) reported FY4Q26 results above expectations, extending its record-high performance.The MPC unexpectedly cut the policy rate to 1.00%

Krungthai XSpring

Krungthai XSpring Zoom Eng. February 20, 2026

The upside is supported by crude oil prices hitting a near six-month high, which should benefit oil and refinery stocks, alongside continued fund...

Krungthai XSpring

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