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 Index is expected to move in a limited sideways-up pattern today, with the support at 1,300/1,280 and the resistance at 1,322/1,334.</li><li>The US and Thailand have signed a Memorandum of Understanding (MOU) on cooperation in critical minerals.</li><li>We recommend focusing on defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC) or accumulating shares with potential 3Q25 earnings growth both QoQ and YoY (ADVANC, BCPG, PR9, PTTGC, MTC).</li></ul>

The SET Index is expected to move in a limited sideways-up pattern today, with the support at 1,300/1,280 and the resistance at 1,322/1,334.The US and Thailand have signed a Memorandum of Understanding (MOU) on cooperation in critical minerals.We recommend focusing on defensive stocks (ADVANC, CPALL, BDMS, BCH, GPSC) or accumulating shares with potential 3Q25 earnings growth both QoQ and YoY (ADVANC, BCPG, PR9, PTTGC, MTC).

Krungthai XSpring Zoom Eng. October 27, 2025

<ul><li>The 3Q24 earnings performance of 686 stocks in the SET Index (accounting for 95% of total market capitalization) totaled Bt207,918mn, declining by 19% QoQ and 24% YoY.</li><li>However, excluding energy and petrochemical stocks, the remaining sectors showed stable performances QoQ and significant YoY growth.</li><li>For the 163 stocks covered by the Bloomberg consensus, net profit came in at Bt176,516mn, down 23% YoY and 22% QoQ, and about 8% below the Bloomberg consensus estimates. </li></ul>

The 3Q24 earnings performance of 686 stocks in the SET Index (accounting for 95% of total market capitalization) totaled Bt207,918mn, declining by 19% QoQ and 24% YoY.However, excluding energy and petrochemical stocks, the remaining sectors showed stable performances QoQ and significant YoY growth.For the 163 stocks covered by the Bloomberg consensus, net profit came in at Bt176,516mn, down 23% YoY and 22% QoQ, and about 8% below the Bloomberg consensus estimates. 

Special Report: 3Q24 Earnings Summary - November 20, 2024

Thailand

Rojana Industrial Park Public Company Limited is a property development company which concentrates in industrial estate development projects.  The Company develops land sites suitable for industrial use such as small factories, while providing infrastructure and facilities such as electricity, water, telephone lines, employee housing and restaurants.

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Rojana Industrial Park (ROJNA TB)

Krungthai XSpring Zoom Eng. October 27, 2025

The SET Index is expected to move in a limited sideways-up pattern today, with the support at 1,300/1,280 and the resistance at 1,322/1,334.

Krungthai XSpring

Special Report: 3Q24 Earnings Summary - November 20, 2024

The 3Q24 earnings performance of 686 stocks in the SET Index (accounting for 95% of total market capitalization) totaled Bt207,918mn, declining by...

Krungthai XSpring

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