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 Index is expected to soften today, with the support levels at 1,114 points (10-day EMA) and 1,108 points and the resistance at 1,128 and 1,133 points.</li><li>Foreign investors recorded a significant net buy of Thai equities on Friday—totaling Bt2,187.35mn (the highest in 11 days and marking a fourth consecutive day of net buying); this can be interpreted as slightly positive.</li><li>However, there remains a lack of clear domestic drivers, while external factors are negative. </li></ul>

The SET Index is expected to soften today, with the support levels at 1,114 points (10-day EMA) and 1,108 points and the resistance at 1,128 and 1,133 points.Foreign investors recorded a significant net buy of Thai equities on Friday—totaling Bt2,187.35mn (the highest in 11 days and marking a fourth consecutive day of net buying); this can be interpreted as slightly positive.However, there remains a lack of clear domestic drivers, while external factors are negative. 

KTX Zoom: Concerns over Trade War - JULY 14, 2025

<ul><li>The SET Index is expected to trade sideways today with light volume amid the long holiday.</li><li>The support levels are at 1,103 and 1,095 points, while the resistance levels are at 1,118 points (25-day EMA) and 1,123 points.</li><li>External factors are slightly positive following the latest stance from the US, which continues to use tariffs as a bargaining tool. </li></ul>

The SET Index is expected to trade sideways today with light volume amid the long holiday.The support levels are at 1,103 and 1,095 points, while the resistance levels are at 1,118 points (25-day EMA) and 1,123 points.External factors are slightly positive following the latest stance from the US, which continues to use tariffs as a bargaining tool. 

KTX Zoom: Moving Slowly During the Long Holiday - July 11, 2025

<ul><li>Trade negotiations between the US and Thailand showed no progress ahead of next week's deadline.</li><li>Combined with the absence of new market catalysts, this prompted investors to reduce risk or take profit following a four-day rebound.</li><li>As a result, blue-chip stocks declined, putting pressure on the SET Index. </li></ul>

Trade negotiations between the US and Thailand showed no progress ahead of next week's deadline.Combined with the absence of new market catalysts, this prompted investors to reduce risk or take profit following a four-day rebound.As a result, blue-chip stocks declined, putting pressure on the SET Index. 

<ul><li>Political tensions appeared to ease, but the SET remained volatile within a narrow range due to the absence of strong supporting factors, coupled with short-term selling pressure — particularly in ADVANC, AOT, CPF, and BDMS.</li><li>But this did not derail the broader rebound trend.</li><li>The declining trading volume suggested consolidation, before the index ultimately moved higher, supported by gains in banking stocks, China-related plays, and continued buying by domestic funds</li></ul>

Political tensions appeared to ease, but the SET remained volatile within a narrow range due to the absence of strong supporting factors, coupled with short-term selling pressure — particularly in ADVANC, AOT, CPF, and BDMS.But this did not derail the broader rebound trend.The declining trading volume suggested consolidation, before the index ultimately moved higher, supported by gains in banking stocks, China-related plays, and continued buying by domestic funds

<ul><li>The SET initially moved in a tight range amid a lack of clear catalysts, while political issue exerted some pressure.</li><li>However, the index surprised in the afternoon session by surging sharply, driven by strong buying in blue-chip stocks such as DELTA, ADVANC, GULF, KTC, and banking shares — despite the Constitutional Court accepting the petition related to the audio clip case and ordering the Prime Minister to suspend duties.</li><li>The index rebounded sharply above the 1,100-point level — exceeding expectations — and remains on track to retest the one- third Fibonacci resistance at 1,116 points.</li></ul>

The SET initially moved in a tight range amid a lack of clear catalysts, while political issue exerted some pressure.However, the index surprised in the afternoon session by surging sharply, driven by strong buying in blue-chip stocks such as DELTA, ADVANC, GULF, KTC, and banking shares — despite the Constitutional Court accepting the petition related to the audio clip case and ordering the Prime Minister to suspend duties.The index rebounded sharply above the 1,100-point level — exceeding expectations — and remains on track to retest the one- third Fibonacci resistance at 1,116 points.

Thailand

Thaifoods Group is a vertically integrated food producer specializing in the production of chicken and swine, operating in Thailand and Vietnam. The company's core activities include chicken breeding, meat production, processed chicken products, pig breeding, and live pig sales. It also operates feed mills and a retail business. Thaifoods Group was founded in 1987 and is headquartered in Bangkok, Thailand.

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Thaifoods Group (TFG TB)

KTX Zoom: Concerns over Trade War - JULY 14, 2025

The SET Index is expected to soften today, with the support levels at 1,114 points (10-day EMA) and 1,108 points and the resistance at 1,128 and...

Krungthai XSpring

KTX Zoom: Moving Slowly During the Long Holiday - July 11, 2025

The SET Index is expected to trade sideways today with light volume amid the long holiday. The support levels are at 1,103 and 1,095 points, while...

Krungthai XSpring

Technical Analysis - JULY 7, 2025

Trade negotiations between the US and Thailand showed no progress ahead of next week's deadline. Combined with the absence of new market catalysts,...

Krungthai XSpring

Technical Analysis - JULY 3, 2025

Political tensions appeared to ease, but the SET remained volatile within a narrow range due to the absence of strong supporting factors, coupled...

Krungthai XSpring

Technical Analysis -JULY 2, 2025

The index rebounded sharply above the 1,100-point level — exceeding expectations — and remains on track to retest the one- third Fibonacci...

Krungthai XSpring

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