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 attempted to rebound but encountered selling pressure throughout the day, eventually closing lower.</li><li>The higher high, higher low pattern remains intact as long as the index stays above the uptrend line support at 1,273.</li><li>Therefore, we maintain our “buy on dips” strategy, as the recent pullback has occurred on light volume and movements among bluechip stocks have been mixed.</li></ul>

The SET attempted to rebound but encountered selling pressure throughout the day, eventually closing lower.The higher high, higher low pattern remains intact as long as the index stays above the uptrend line support at 1,273.Therefore, we maintain our “buy on dips” strategy, as the recent pullback has occurred on light volume and movements among bluechip stocks have been mixed.

Krungthai XSpring Technical Eng. November 3, 2025

<ul><li>The US: US equities advanced (S&amp;P 500 +0.58%, NASDAQ +0.89%) on renewed optimism over US–China trade negotiations, following the White House’s confirmation that President Donald Trump will meet President Xi Jinping on October 30 in a sideline discussion at the APEC Summit in South Korea.</li><li>Oil: Crude oil prices rebounded sharply (WTI +5.43%, Brent +5.62%) after the US imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil producers.</li><li>Thailand: Focus today will also be on Thailand’s September international trade report, which is expected to show continued recovery.</li></ul>

The US: US equities advanced (S&amp;P 500 +0.58%, NASDAQ +0.89%) on renewed optimism over US–China trade negotiations, following the White House’s confirmation that President Donald Trump will meet President Xi Jinping on October 30 in a sideline discussion at the APEC Summit in South Korea.Oil: Crude oil prices rebounded sharply (WTI +5.43%, Brent +5.62%) after the US imposed sanctions on Rosneft and Lukoil, two of Russia’s largest oil producers.Thailand: Focus today will also be on Thailand’s September international trade report, which is expected to show continued recovery.

Krungthai XSpring Zoom Eng. October 24, 2025

<ul><li>The SET rose for the second consecutive day, moving in line with other Asian markets, supported by growing expectations that the Fed will cut interest rates and easing concerns over the US–China trade conflict.</li><li>We maintain our recommendation to buy on dips during periods of low trading volume, as the index may remain volatile and prone to quick pullbacks.</li><li>The index continues to climb gradually, with intraday pullbacks and light trading volume.</li></ul>

The SET rose for the second consecutive day, moving in line with other Asian markets, supported by growing expectations that the Fed will cut interest rates and easing concerns over the US–China trade conflict.We maintain our recommendation to buy on dips during periods of low trading volume, as the index may remain volatile and prone to quick pullbacks.The index continues to climb gradually, with intraday pullbacks and light trading volume.

Krungthai XSpring Technical Eng. October 22, 2025

<ul><li>The SET rebounded in line with other Asian markets amid easing US–China trade tensions and growing optimism over 3Q25 bank earnings and new economic stimulus measures.</li><li>Recently, the index has fluctuated sharply but managed to sustain its upward momentum toward the 1,300-point level.</li><li>Therefore, we recommend buying on dips, as the index may see short-term pullbacks until trading volume strengthens.</li></ul>

The SET rebounded in line with other Asian markets amid easing US–China trade tensions and growing optimism over 3Q25 bank earnings and new economic stimulus measures.Recently, the index has fluctuated sharply but managed to sustain its upward momentum toward the 1,300-point level.Therefore, we recommend buying on dips, as the index may see short-term pullbacks until trading volume strengthens.

Krungthai XSpring Technical Eng. October 21, 2025

<ul><li>The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses on Thursday.</li><li>We recommend short-term speculative plays in export and industrial estate stocks (DELTA, HANA, KCE, TFG, WHA, AMATA), which should benefit from the improving trade outlook.</li><li>Bank stocks may see increased volatility driven by speculative trading or sell-on-fact activity, which could add short-term pressure to the SET Index.</li></ul>

The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses on Thursday.We recommend short-term speculative plays in export and industrial estate stocks (DELTA, HANA, KCE, TFG, WHA, AMATA), which should benefit from the improving trade outlook.Bank stocks may see increased volatility driven by speculative trading or sell-on-fact activity, which could add short-term pressure to the SET Index.

Krungthai XSpring Zoom Eng. October 20, 2025

Thailand

Thai Airways International Public Company Limited is the flag carrier airline of Thailand, providing passenger, cargo, and mail transportation on scheduled and chartered flights to domestic and international destinations. The company also offers related services such as ground handling, catering, and aircraft maintenance. It is headquartered in Bangkok, Thailand, and was founded in 1960.

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Thai Airways International (THAI TB)

Krungthai XSpring Technical Eng. November 3, 2025

Therefore, we maintain our “buy on dips” strategy, as the recent pullback has occurred on light volume and movements among bluechip stocks have...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 24, 2025

The SET Index is expected to trade in a sideways-up pattern today, with the resistance at 1,314 and 1,334 points, and support at 1,300 and 1,280...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 22, 2025

We maintain our recommendation to buy on dips during periods of low trading volume, as the index may remain volatile and prone to quick pullbacks.

Krungthai XSpring

Krungthai XSpring Technical Eng. October 21, 2025

The SET rebounded in line with other Asian markets amid easing US–China trade tensions and growing optimism over 3Q25 bank earnings and new...

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 20, 2025

The easing tensions helped lift US equities, including a rebound in regional bank stocks (Zions +5.8%, Western Alliance +3.1%) after sharp losses...

Krungthai XSpring

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