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>Asian bourses continued to rise as global oil prices weakened. The SET traded in positive territory throughout the day and touched 1,428.06 before retreating in the afternoon on profit taking, pressured by a rebound in oil prices and concerns over the prolonged Middle East conflict. Meanwhile, foreign investors were net sellers for the fifth consecutive day.</li><li>The index, which had shown strong momentum and was expected to rebound toward 1,450 points, may need to reassess its outlook after a sharp drop, pressured by fund outflows.</li><li>Meanwhile, the MACD has weakened and moved close to the zero line, raising caution over a potential dead cross signal. However, as long as the index remains above the 1,400–1,384 point support zone, we believe it is still trading in the upper Fibonacci channel, with potential to rebound further as domestic buying begins to play a larger role in supporting the index.</li></ul>

Asian bourses continued to rise as global oil prices weakened. The SET traded in positive territory throughout the day and touched 1,428.06 before retreating in the afternoon on profit taking, pressured by a rebound in oil prices and concerns over the prolonged Middle East conflict. Meanwhile, foreign investors were net sellers for the fifth consecutive day.The index, which had shown strong momentum and was expected to rebound toward 1,450 points, may need to reassess its outlook after a sharp drop, pressured by fund outflows.Meanwhile, the MACD has weakened and moved close to the zero line, raising caution over a potential dead cross signal. However, as long as the index remains above the 1,400–1,384 point support zone, we believe it is still trading in the upper Fibonacci channel, with potential to rebound further as domestic buying begins to play a larger role in supporting the index.

Krungthai XSpring Technical Eng. March 12, 2026

<ul><li>The SET Index is expected to face renewed pressure today, with support at 1,400/1,384 points and resistance at 1,420/1,431 points.</li><li>The MPC minutes signal that Thailand’s policy rate at 1.00% has likely reached its bottom.</li><li>We maintain our fair index level at 1,413 points and also see 1,340–1,350 points should provide relatively strong support.</li></ul>

The SET Index is expected to face renewed pressure today, with support at 1,400/1,384 points and resistance at 1,420/1,431 points.The MPC minutes signal that Thailand’s policy rate at 1.00% has likely reached its bottom.We maintain our fair index level at 1,413 points and also see 1,340–1,350 points should provide relatively strong support.

Krungthai XSpring Zoom Eng. March 12, 2026

<ul><li>The SET Index is expected to extend its rebound today, though gains may be limited, with resistance at 1,420/1,431 and support at 1,400/1,384.</li><li>Crude oil prices have declined from the USD100 level, suggesting the worst of market concerns may have passed.</li><li>The Thai stock market rebounded yesterday, gaining 22.79 points (+1.65%) to close at 1,405.76.</li></ul>

The SET Index is expected to extend its rebound today, though gains may be limited, with resistance at 1,420/1,431 and support at 1,400/1,384.Crude oil prices have declined from the USD100 level, suggesting the worst of market concerns may have passed.The Thai stock market rebounded yesterday, gaining 22.79 points (+1.65%) to close at 1,405.76.

Krungthai XSpring Zoom Eng. March 11, 2026

<ul><li>The conflict between the US–Israel and Iran shows signs of prolonging, pushing global oil prices above USD100/bbl and raising inflation concerns, which have become a key factor weighing on Asian bourses.</li><li>Fund outflows remain a key internal pressure, while the Middle East conflict represents an external risk factor, increasing volatility in the index.</li><li>As a result, the index may continue to decline, but key support levels should help cushion the downside given the sharp drop already seen.</li></ul>

The conflict between the US–Israel and Iran shows signs of prolonging, pushing global oil prices above USD100/bbl and raising inflation concerns, which have become a key factor weighing on Asian bourses.Fund outflows remain a key internal pressure, while the Middle East conflict represents an external risk factor, increasing volatility in the index.As a result, the index may continue to decline, but key support levels should help cushion the downside given the sharp drop already seen.

Krungthai XSpring Technical Eng. March 10, 2026

<ul><li>The SET Index is expected to rebound today, with resistance at 1,391/1,427 and support at 1,362/1,340.</li><li>Global financial markets have begun to ease concerns over tensions in the Middle East.</li><li>The Thai equity market corrected sharply, with the SET Index dropping 8% in the morning session before rebounding in the afternoon to close at 1,384.61, down 5.58%.</li></ul>

The SET Index is expected to rebound today, with resistance at 1,391/1,427 and support at 1,362/1,340.Global financial markets have begun to ease concerns over tensions in the Middle East.The Thai equity market corrected sharply, with the SET Index dropping 8% in the morning session before rebounding in the afternoon to close at 1,384.61, down 5.58%.

Krungthai XSpring Zoom Eng. March 5, 2026

Thailand

SCB X is a Thailand-based financial technology holding company and the parent of Siam Commercial Bank (SCB), one of Thailand's largest commercial banks. It operates across three core business pillars: Banking Services, Consumer and Digital Financial Services, and Platform and Technology. The company was officially established on September 15, 2021, and is headquartered in Bangkok, Thailand.

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SCB X (SCB TB)

Krungthai XSpring Technical Eng. March 12, 2026

The index, which had shown strong momentum and was expected to rebound toward 1,450 points, may need to reassess its outlook after a sharp drop,...

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 12, 2026

The SET Index is expected to face renewed pressure today, with support at 1,400/1,384 points and resistance at 1,420/1,431 points.

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 11, 2026

The SET Index is expected to extend its rebound today, though gains may be limited, with resistance at 1,420/1,431 and support at 1,400/1,384.

Krungthai XSpring

Krungthai XSpring Technical Eng. March 10, 2026

Fund outflows remain a key internal pressure, while the Middle East conflict represents an external risk factor, increasing volatility in the index.

Krungthai XSpring

Krungthai XSpring Zoom Eng. March 5, 2026

The Thai equity market corrected sharply, with the SET Index dropping 8% in the morning session before rebounding in the afternoon to close at...

Krungthai XSpring

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