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 rebound in line with the US market ahead of the Christmas period, while the SET lacked fresh catalysts.</li><li>Market sentiment remains supported by positive investor psychology driven by fund inflows, alongside expectations of buying from Thai ESG funds and RMFs.</li><li>Nevertheless, we recommend buying on dips and selling on rallies, as trading volume remains thin, keeping the index volatile.</li></ul>

Asian bourses continued to rebound in line with the US market ahead of the Christmas period, while the SET lacked fresh catalysts.Market sentiment remains supported by positive investor psychology driven by fund inflows, alongside expectations of buying from Thai ESG funds and RMFs.Nevertheless, we recommend buying on dips and selling on rallies, as trading volume remains thin, keeping the index volatile.

Krungthai XSpring Technical Eng. December 24, 2025

<ul><li>The market lacked new catalysts, while blue-chip stocks took turns leading the index.</li><li>At least the index attempted to rebound and consistently held above the 1,250-point level.</li><li>We maintain a positive view that the index can hold above its support level and rebound.</li></ul>

The market lacked new catalysts, while blue-chip stocks took turns leading the index.At least the index attempted to rebound and consistently held above the 1,250-point level.We maintain a positive view that the index can hold above its support level and rebound.

Krungthai XSpring Technical Eng. December 22, 2025

<ul><li>The SET opened higher on gains in banking stocks but was weighed down by declines in DELTA, as well as finance, hospital, commerce, and energy stocks.</li><li>Although selling pressure spread across a broad range of sectors, the index managed to hold above the 1,250-point support level.</li><li>Therefore, we continue to recommend buying at the support, viewing these levels as attractive entry points, as the index has rebounded several times from this area in the past.</li></ul>

The SET opened higher on gains in banking stocks but was weighed down by declines in DELTA, as well as finance, hospital, commerce, and energy stocks.Although selling pressure spread across a broad range of sectors, the index managed to hold above the 1,250-point support level.Therefore, we continue to recommend buying at the support, viewing these levels as attractive entry points, as the index has rebounded several times from this area in the past.

Krungthai XSpring Technical Eng. DECEMBER 19, 2025

Equity Bottom-Up

<ul>
<li>We recommend selling BCP, RBF and SCGP at a loss, with holding-period returns of -8.3%, -7.3% and -4.3%, respectively, and adding PLANB and TVO to replace them.</li>
<li>Nearly all portfolio stocks declined in line with the SET (-2.10%), dragging the portfolio return down 1.95%.</li>
<li>The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.</li>
</ul>


We recommend selling BCP, RBF and SCGP at a loss, with holding-period returns of -8.3%, -7.3% and -4.3%, respectively, and adding PLANB and TVO to replace them.
Nearly all portfolio stocks declined in line with the SET (-2.10%), dragging the portfolio return down 1.95%.
The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.


<ul><li>The SET tumbled back to the 1,260-point support level, moving in line with other Asian bourses after a sharp drop in DELTA, alongside declines in petroleum, energy, hospital, and commerce stocks.</li><li>At least the index has pulled back to the 1,260–1,250 support zone and showed attempts to hold above this level or rebound.</li><li>Therefore, we recommend buying at support, as the index is expected to stage a technical rebound.</li></ul>

The SET tumbled back to the 1,260-point support level, moving in line with other Asian bourses after a sharp drop in DELTA, alongside declines in petroleum, energy, hospital, and commerce stocks.At least the index has pulled back to the 1,260–1,250 support zone and showed attempts to hold above this level or rebound.Therefore, we recommend buying at support, as the index is expected to stage a technical rebound.

Krungthai XSpring Technical Eng. December 17, 2025

Thailand

SCG Packaging is a leading multinational provider of integrated packaging solutions, offering a comprehensive portfolio including fiber-based packaging, performance and polymer packaging, foodservice products, pulp, and paper products. The company provides innovative and sustainable products and services for various industries, including food, beverage, consumer goods, and medical supplies. Headquartered in Bangkok, Thailand, the company was founded in 1975.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

SCG Packaging (SCGP TB)

Krungthai XSpring Technical Eng. December 24, 2025

Asian bourses continued to rebound in line with the US market ahead of the Christmas period, while the SET lacked fresh catalysts.

Krungthai XSpring

Krungthai XSpring Technical Eng. December 22, 2025

The market lacked new catalysts, while blue-chip stocks took turns leading the index. At least the index attempted to rebound and consistently held...

Krungthai XSpring

Krungthai XSpring Technical Eng. DECEMBER 19, 2025

The SET opened higher on gains in banking stocks but was weighed down by declines in DELTA, as well as finance, hospital, commerce, and energy stocks.

Krungthai XSpring

KTX Tactical Picks

We recommend selling BCP, RBF and SCGP at a loss, with holding-period returns of -8.3%, -7.3% and -4.3%, respectively, and adding PLANB and TVO to...

Krungthai XSpring

Krungthai XSpring Technical Eng. December 17, 2025

The SET tumbled back to the 1,260-point support level, moving in line with other Asian bourses after a sharp drop in DELTA, alongside declines in...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)