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 opened in a narrow range as THAI and DELTA extended their declines, but buying interest gradually picked up.</li><li>The index's rebound, accompanied by a bullish engulfing signal, suggests a potential trend reversal with further upside momentum.</li><li>We recommend buying on dips, selling on strength, as the market awaits clearer signals regarding political issues and the upcoming Fed meeting this week.</li></ul>

The SET opened in a narrow range as THAI and DELTA extended their declines, but buying interest gradually picked up.The index's rebound, accompanied by a bullish engulfing signal, suggests a potential trend reversal with further upside momentum.We recommend buying on dips, selling on strength, as the market awaits clearer signals regarding political issues and the upcoming Fed meeting this week.

Krungthai XSpring Technical Eng. August 21, 2025

<ul><li>The SET Index today is expected to rebound within a limited range, with the resistance at 1,270/1,280 points and the support at 1,252/1,239 points (200-day EMA).</li><li>External factors are slightly negative after the US July PPI rose more than expected, dampening hopes that the Fed will cut interest rates by 50 bps at its mid-September meeting, though there may be a positive surprise from tonight’s meeting between the US and Ukraine if Ukraine agrees to Russia’s proposal, contrary to market expectations.</li><li>Domestic factors are slightly positive, supported by: i) better-than-expected 2Q25 earnings from Thai listed companies (+8.6%), with 1H25 earnings accounting for 57.5% of full-year estimates, which could lead to upward earnings and target revisions, and ii) the House of Representatives passing the 2026 fiscal budget bill last Friday, while the NESDC signaled a more positive outlook for the second half of the year compared to earlier concerns over US tariff hikes, adding upside to 2025E GDP growth and reducing the risk of contraction if Prime Minister Paetongtarn is found guilty by the court and a new prime minister must be selected on August 29.</li></ul>

The SET Index today is expected to rebound within a limited range, with the resistance at 1,270/1,280 points and the support at 1,252/1,239 points (200-day EMA).External factors are slightly negative after the US July PPI rose more than expected, dampening hopes that the Fed will cut interest rates by 50 bps at its mid-September meeting, though there may be a positive surprise from tonight’s meeting between the US and Ukraine if Ukraine agrees to Russia’s proposal, contrary to market expectations.Domestic factors are slightly positive, supported by: i) better-than-expected 2Q25 earnings from Thai listed companies (+8.6%), with 1H25 earnings accounting for 57.5% of full-year estimates, which could lead to upward earnings and target revisions, and ii) the House of Representatives passing the 2026 fiscal budget bill last Friday, while the NESDC signaled a more positive outlook for the second half of the year compared to earlier concerns over US tariff hikes, adding upside to 2025E GDP growth and reducing the risk of contraction if Prime Minister Paetongtarn is found guilty by the court and a new prime minister must be selected on August 29.

Krungthai XSpring Zoom Eng. August 18, 2025

Malaysia

SCC Holdings Bhd. is an investment holding company. The Company's subsidiaries are involved in the sales, marketing, and distribution of non-antibiotic animal health products and the sales, marketing, and distribution of food service equipment.

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Scc Holdings (SCHB MK)

Krungthai XSpring Technical Eng. August 21, 2025

We recommend buying on dips, selling on strength, as the market awaits clearer signals regarding political issues and the upcoming Fed meeting this...

Krungthai XSpring

Krungthai XSpring Zoom Eng. August 18, 2025

The SET Index today is expected to rebound within a limited range, with the resistance at 1,270/1,280 points and the support at 1,252/1,239 points...

Krungthai XSpring

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