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 came under continued selling pressure amid a lack of fresh positive catalysts, slipping below the 1,300-point level for the first time in nine days.</li><li>The index’s drop below the 1,300-point support has turned sentiment slightly bearish, signaling weakening momentum.</li><li>We maintain our “buy on dip” view, anticipating short-term consolidation before a near-term rebound.</li></ul>

The SET came under continued selling pressure amid a lack of fresh positive catalysts, slipping below the 1,300-point level for the first time in nine days.The index’s drop below the 1,300-point support has turned sentiment slightly bearish, signaling weakening momentum.We maintain our “buy on dip” view, anticipating short-term consolidation before a near-term rebound.

Krungthai XSpring Technical Eng. November 5, 2025

<ul><li>The SET Index is expected to trade sideways up today, with the resistance at 1,313/1,322 and the support at 1,300/1,280.</li><li>The M7 group rose 1.18%, led by Amazon (+4%) after announcing a USD38bn cloud service deal with OpenAI.</li><li>Thailand's S&amp;P Global Manufacturing PMI for October rose to 56.6, the highest level in 29 months and above expectations of 54.1, supported by continued recovery in new orders and production.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,313/1,322 and the support at 1,300/1,280.The M7 group rose 1.18%, led by Amazon (+4%) after announcing a USD38bn cloud service deal with OpenAI.Thailand's S&amp;P Global Manufacturing PMI for October rose to 56.6, the highest level in 29 months and above expectations of 54.1, supported by continued recovery in new orders and production.

Krungthai XSpring Zoom Eng. November 4, 2025

<ul><li>The SET Index is expected to trade sideways up today, with the resistance at 1,322/1,332 and the support at 1,313/1,300.</li><li>Domestic factors are slightly positive, as the baht continues to appreciate against both the USD and JPY, reducing FX loss risks for foreign investors and attracting fund inflows into Thailand.</li><li>Externally, the outlook is neutral — global technology stocks are under pressure, which could weigh on Thai electronics stocks, though rising bond yields may provide a positive sentiment boost for the banking sector.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,322/1,332 and the support at 1,313/1,300.Domestic factors are slightly positive, as the baht continues to appreciate against both the USD and JPY, reducing FX loss risks for foreign investors and attracting fund inflows into Thailand.Externally, the outlook is neutral — global technology stocks are under pressure, which could weigh on Thai electronics stocks, though rising bond yields may provide a positive sentiment boost for the banking sector.

Krungthai XSpring Zoom Eng. October 31, 2025

<ul><li>The SET managed to hold its ground and avoid further losses, supported by rebounds in DELTA, ADVANC, and AOT, which helped lift the index slightly higher.</li><li>Although the index edged up slightly, it successfully nullified the previous black candlestick’s negative signal, allowing it to maintain the higher high, higher low pattern.</li><li>We recommend buying on dips, as the index’s resilience above the 1,313–1,300 support zone should form a solid base and pave the way for a new rebound cycle.</li></ul>

The SET managed to hold its ground and avoid further losses, supported by rebounds in DELTA, ADVANC, and AOT, which helped lift the index slightly higher.Although the index edged up slightly, it successfully nullified the previous black candlestick’s negative signal, allowing it to maintain the higher high, higher low pattern.We recommend buying on dips, as the index’s resilience above the 1,313–1,300 support zone should form a solid base and pave the way for a new rebound cycle.

Krungthai XSpring Technical Eng. October 30, 2025

<ul><li>The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and domestic funds turned net sellers.</li><li>The index declined after a bearish signal from a gravestone doji, retesting the support at 1,313–1,300 points.</li><li>Therefore, we recommend buying on weakness, as we expect the index to experience only short-term consolidation while maintaining a positive price pattern.</li></ul>

The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and domestic funds turned net sellers.The index declined after a bearish signal from a gravestone doji, retesting the support at 1,313–1,300 points.Therefore, we recommend buying on weakness, as we expect the index to experience only short-term consolidation while maintaining a positive price pattern.

Krungthai XSpring Technical Eng. October 29, 2025

Thailand

PTT Global Chemical PCL is a fully integrated petrochemical and chemical company. The Company's products are derived from its main product, Olefins, namely ethylene and propylene.

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PTT Global Chemical (PTTGC TB)

Krungthai XSpring Technical Eng. November 5, 2025

The SET came under continued selling pressure amid a lack of fresh positive catalysts, slipping below the 1,300-point level for the first time in...

Krungthai XSpring

Krungthai XSpring Zoom Eng. November 4, 2025

Thailand's S&P Global Manufacturing PMI for October rose to 56.6, the highest level in 29 months and above expectations of 54.1, supported by...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 31, 2025

Domestic factors are slightly positive, as the baht continues to appreciate against both the USD and JPY, reducing FX loss risks for foreign...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 30, 2025

The SET managed to hold its ground and avoid further losses, supported by rebounds in DELTA, ADVANC, and AOT, which helped lift the index slightly...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 29, 2025

The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and...

Krungthai XSpring

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