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>Signals for further interest rate hikes by the Fed shook foreign bourses, while the SET slumped below 1,500 points for the first time in a month.</li><li>The index kept sinking and already tested the support at 1,500-1,491 points.</li><li>We recommend holding cash, but investors may return for rebound play if there is a positive signal at the support at 1,500-1,491 points.</li></ul>

Signals for further interest rate hikes by the Fed shook foreign bourses, while the SET slumped below 1,500 points for the first time in a month.The index kept sinking and already tested the support at 1,500-1,491 points.We recommend holding cash, but investors may return for rebound play if there is a positive signal at the support at 1,500-1,491 points.

Equity Bottom-Up

Thai Airways International / Equity Bottom-Up

<ul><li>Asian markets opened higher, led by buying in technology stocks as inflation concerns eased.</li><li>HANA and GUNKUL will be added to the MSCI Global Small Cap Index in the August review.</li><li>THAI (Outperform, TP: Bt7.10) turned profitable at the core level in 2Q26, beating market expectations for a loss.</li></ul>

Asian markets opened higher, led by buying in technology stocks as inflation concerns eased.HANA and GUNKUL will be added to the MSCI Global Small Cap Index in the August review.THAI (Outperform, TP: Bt7.10) turned profitable at the core level in 2Q26, beating market expectations for a loss.

Krungthai XSpring Zoom Eng. August 13, 2026

Cross Asset Strategy

<ul><li>The SET Index is expected to move sideways, with the resistance at 1,651/1,660 points and the support at 1,635/1,630 points.</li><li>Negative factors include the better-than-forecast US services PMI in November, suggesting that inflation may not fall as rapidly as the market expects.</li><li>Positive factors include Thai inflation in November, which may continue to slow down.</li></ul>

The SET Index is expected to move sideways, with the resistance at 1,651/1,660 points and the support at 1,635/1,630 points.Negative factors include the better-than-forecast US services PMI in November, suggesting that inflation may not fall as rapidly as the market expects.Positive factors include Thai inflation in November, which may continue to slow down.

<ul><li>The SET Index is expected to move up, with the resistance at 1,640/1,649 points and the support at 1,630/1,623 points.</li><li>We recommend trading buy on EA, MAKRO, and PTTEP.</li><li>Today's momentum is positive after the Fed chairman hinted at a less aggressive rate hike in the FOMC meeting on December 4.</li></ul>

The SET Index is expected to move up, with the resistance at 1,640/1,649 points and the support at 1,630/1,623 points.We recommend trading buy on EA, MAKRO, and PTTEP.Today's momentum is positive after the Fed chairman hinted at a less aggressive rate hike in the FOMC meeting on December 4.

<ul><li>The SET Index is expected to move sideways up, with the resistance at 1,630/1,635 points and the support at 1,611 (50-week EMA)/1,600 points.</li><li>We recommend trading buy on KCE, HANA and SAT.</li><li>Today's investment momentum is slightly positive in response to the Cabinet meeting today, in which it is expected to approve additional stimulus measures.</li></ul>

The SET Index is expected to move sideways up, with the resistance at 1,630/1,635 points and the support at 1,611 (50-week EMA)/1,600 points.We recommend trading buy on KCE, HANA and SAT.Today's investment momentum is slightly positive in response to the Cabinet meeting today, in which it is expected to approve additional stimulus measures.

Singapore

SATS is a leading provider of gateway services and food solutions for the aviation industry and beyond. It offers air cargo handling, baggage and ramp handling, passenger services, aviation security, and in-flight catering, as well as food distribution and logistics. Headquartered in Singapore, the company was founded in 1972.

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SATS (SATS SP)

Technical Analysis

Signals for further interest rate hikes by the Fed shook foreign bourses, while the SET slumped below 1,500 points for the first time in a...

Krungthai XSpring

Krungthai XSpring Zoom Eng. August 13, 2026

Asian markets opened higher, led by buying in technology stocks as inflation concerns eased. HANA and GUNKUL will be added to the MSCI Global...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways, with the resistance at 1,651/1,660 points and the support at 1,635/1,630 points. Negative factors...

Krungthai XSpring

Market Outlook

The SET Index is expected to move up, with the resistance at 1,640/1,649 points and the support at 1,630/1,623 points. We recommend trading buy on...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways up, with the resistance at 1,630/1,635 points and the support at 1,611 (50-week EMA)/1,600 points. We...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)