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 came under pressure from profit-taking amid a lack of new positive catalysts, alongside continued fund outflows.</li><li>The index has entered a short-term consolidation phase after a continued pullback and is trending toward the key support at 1,300 points.</li><li>We therefore expect the index to see limited downside or move sideways while awaiting clearer reversal signals.</li></ul>

The SET came under pressure from profit-taking amid a lack of new positive catalysts, alongside continued fund outflows.The index has entered a short-term consolidation phase after a continued pullback and is trending toward the key support at 1,300 points.We therefore expect the index to see limited downside or move sideways while awaiting clearer reversal signals.

Krungthai XSpring Technical Eng. February 2, 2026

<ul><li>Most Asian bourses advanced, except Indonesia, which fell sharply.</li><li>Despite disappointing 4Q25 earnings, buying in large-cap stocks helped the index look past these concerns.</li><li>The index is at a critical juncture and must break above 1,346 points to confirm a continued rebound.</li></ul>

Most Asian bourses advanced, except Indonesia, which fell sharply.Despite disappointing 4Q25 earnings, buying in large-cap stocks helped the index look past these concerns.The index is at a critical juncture and must break above 1,346 points to confirm a continued rebound.

Krungthai XSpring Technical Eng. January 29, 2026

<ul><li>The SET came under pressure from uncertainty over 4Q25 earnings, a fourth consecutive day of foreign selling, and rising Middle East tensions.</li><li>The index pulled back toward the 1,330–1,296 support range.</li><li>We therefore recommend buying on weakness, particularly near the 1,300–1,296 support zone, provided trading volume remains intact.</li></ul>

The SET came under pressure from uncertainty over 4Q25 earnings, a fourth consecutive day of foreign selling, and rising Middle East tensions.The index pulled back toward the 1,330–1,296 support range.We therefore recommend buying on weakness, particularly near the 1,300–1,296 support zone, provided trading volume remains intact.

Krungthai XSpring Technical Eng. January 27, 2026

<ul><li>The SET moved higher in line with most Asian bourses, rebounding as concerns over a US–Europe trade war eased.</li><li>In the short term, the index remains on an upward path toward the 1,330-point resistance, supported by a rising MACD and a positive RSI signal that remains well below the overbought zone.</li><li>We therefore continue to recommend selective speculation; however, should the index fall below the 1,300-point support, we would review our outlook.</li></ul>

The SET moved higher in line with most Asian bourses, rebounding as concerns over a US–Europe trade war eased.In the short term, the index remains on an upward path toward the 1,330-point resistance, supported by a rising MACD and a positive RSI signal that remains well below the overbought zone.We therefore continue to recommend selective speculation; however, should the index fall below the 1,300-point support, we would review our outlook.

Krungthai XSpring Technical Eng. January 26, 2026

<ul><li>The index appears to be entering a consolidation phase following the sharp drop toward the 1,300-point support.</li><li>We therefore expect the index to be undergoing only a short-term pullback before rebounding toward the resistance at 1,330 points.</li><li>Accordingly, we maintain our recommendation for selective speculation and view any weakness in the index as an opportunity to accumulate stocks, with expectations for a rebound.</li></ul>

The index appears to be entering a consolidation phase following the sharp drop toward the 1,300-point support.We therefore expect the index to be undergoing only a short-term pullback before rebounding toward the resistance at 1,330 points.Accordingly, we maintain our recommendation for selective speculation and view any weakness in the index as an opportunity to accumulate stocks, with expectations for a rebound.

Krungthai XSpring Technical Eng. January 23, 2026

Thailand

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Krungthai XSpring Technical Eng. February 2, 2026

The SET came under pressure from profit-taking amid a lack of new positive catalysts, alongside continued fund outflows.

Krungthai XSpring

Krungthai XSpring Technical Eng. January 29, 2026

Most Asian bourses advanced, except Indonesia, which fell sharply. Despite disappointing 4Q25 earnings, buying in large-cap stocks helped the index...

Krungthai XSpring

Krungthai XSpring Technical Eng. January 27, 2026

The SET came under pressure from uncertainty over 4Q25 earnings, a fourth consecutive day of foreign selling, and rising Middle East tensions

Krungthai XSpring

Krungthai XSpring Technical Eng. January 26, 2026

We therefore continue to recommend selective speculation; however, should the index fall below the 1,300-point support, we would review our outlook.

Krungthai XSpring

Krungthai XSpring Technical Eng. January 23, 2026

The index appears to be entering a consolidation phase following the sharp drop toward the 1,300-point support. We therefore expect the index to be...

Krungthai XSpring

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