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 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 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

<ul><li>The SET Index is expected to trade sideways up today, with the resistance at 1,300/1,313 points and the support at 1,285/1,268 points.</li><li>Crude oil prices rebounded this morning (WTI +1.17%, Brent +1.1%) after OPEC+ agreed to raise its production quota for November by 137k barrels per day, keeping it unchanged from October.</li><li>Thailand's September inflation data will be released today, with consensus expecting a contraction of –0.63% YoY, slightly narrower than August's –0.79% YoY.</li></ul>

The SET Index is expected to trade sideways up today, with the resistance at 1,300/1,313 points and the support at 1,285/1,268 points.Crude oil prices rebounded this morning (WTI +1.17%, Brent +1.1%) after OPEC+ agreed to raise its production quota for November by 137k barrels per day, keeping it unchanged from October.Thailand's September inflation data will be released today, with consensus expecting a contraction of –0.63% YoY, slightly narrower than August's –0.79% YoY.

Krungthai XSpring Zoom Eng. October 6, 2025

<ul><li>The SET Index is expected to trade sideways with an upward bias today, though momentum may be softer than in the previous session.</li><li>The US: US equities edged higher (S&amp;P500 +0.06%, NASDAQ +0.39%), with gains led by technology stocks.</li><li>Thailand: Finance Minister Ekniti Nitithanprapas reaffirmed that the government will accelerate economic stimulus through consumption, particularly via the “Khon La Khrueng Plus” co-payment scheme.</li></ul>

The SET Index is expected to trade sideways with an upward bias today, though momentum may be softer than in the previous session.The US: US equities edged higher (S&amp;P500 +0.06%, NASDAQ +0.39%), with gains led by technology stocks.Thailand: Finance Minister Ekniti Nitithanprapas reaffirmed that the government will accelerate economic stimulus through consumption, particularly via the “Khon La Khrueng Plus” co-payment scheme.

Krungthai XSpring Zoom Eng. October 3, 2025

<ul><li>The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.</li><li>Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.</li><li>We do not anticipate a deep correction in the index and believe it will eventually rebound.</li></ul>

The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.We do not anticipate a deep correction in the index and believe it will eventually rebound.

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

Australia

Thorney Opportunities Ltd is investment company which concentrates on producing absolute returns for shareholders over the medium to long term.Its primary focus is on the careful selection of investments which enable it to be a constructive catalyst towards unlocking the value in the companies that it identifies.

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Thorney Opportunities Ltd (TOP AU)

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 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

Krungthai XSpring Zoom Eng. October 6, 2025

The SET Index is expected to trade sideways up today, with the resistance at 1,300/1,313 points and the support at 1,285/1,268 points.

Krungthai XSpring

Krungthai XSpring Zoom Eng. October 3, 2025

The SET Index is expected to trade sideways with an upward bias today, though momentum may be softer than in the previous session.

Krungthai XSpring

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline. We do not anticipate a deep correction in the index...

Krungthai XSpring

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