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 faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.</li><li>Meanwhile, Asian markets traded mixed as investors awaited the outcome of China-US trade negotiations.</li><li>Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.</li></ul>

The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.Meanwhile, Asian markets traded mixed as investors awaited the outcome of China-US trade negotiations.Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.

<ul><li>Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,200/1,192 points and the resistance at 1,215/1,219 points (75-day EMA).</li><li>In the short term, the market is still waiting for confirmation of where the peak of Wave 1 (of the 5-wave upward structure in the Elliott Wave theory) will form before entering a correction phase.</li><li>Wave 2 is expected to retrace around 50–61.8% of Wave 1’s length. </li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,200/1,192 points and the resistance at 1,215/1,219 points (75-day EMA).In the short term, the market is still waiting for confirmation of where the peak of Wave 1 (of the 5-wave upward structure in the Elliott Wave theory) will form before entering a correction phase.Wave 2 is expected to retrace around 50–61.8% of Wave 1’s length. 

KTX Zoom: China’s Trade Balance - MAY 9, 2025

<ul><li>Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.</li><li>In the short term, the market is still awaiting confirmation of the peak of Wave 1 (of the 5-wave uptrend in the Elliott Wave theory) before entering a correction phase.</li><li>Wave 2 typically retraces around 50-61.8% of Wave 1’s length.</li></ul>

Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.In the short term, the market is still awaiting confirmation of the peak of Wave 1 (of the 5-wave uptrend in the Elliott Wave theory) before entering a correction phase.Wave 2 typically retraces around 50-61.8% of Wave 1’s length.

KTX Zoom: BoE Expected to Cut Interest Rates Further - MAY 8, 2025

<ul><li>The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.</li><li>Large-cap stocks took the lead, and the index showed a steady upward pattern.</li><li>The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. </li></ul>

The influx of positive factors — particularly China's rollout of economic stimulus measures and this week's trade negotiations between China and the US — along with strong 1Q25 earnings from ADVANC, sparked a sharp rally in the SET, making it the best- performing market in the region.Large-cap stocks took the lead, and the index showed a steady upward pattern.The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected. 

<ul><li>The SET rallied for the fourth consecutive day, supported by optimism over US-China trade negotiations, enthusiasm surrounding the Thai ESGX fund, and notably, the MPC’s decision to cut the policy rate by 0.25%.</li><li>This rate cut accelerated the index’s gains, particularly in the afternoon session.</li><li>Key stocks such as DELTA, ADVANC, SCC, GULF, and major banking shares recorded strong gains, while fund inflows helped sustain solid upward momentum.</li></ul>

The SET rallied for the fourth consecutive day, supported by optimism over US-China trade negotiations, enthusiasm surrounding the Thai ESGX fund, and notably, the MPC’s decision to cut the policy rate by 0.25%.This rate cut accelerated the index’s gains, particularly in the afternoon session.Key stocks such as DELTA, ADVANC, SCC, GULF, and major banking shares recorded strong gains, while fund inflows helped sustain solid upward momentum.

Thailand

True Corporation Public Company Limited is a communications conglomerate in Thailand that provides telecommunications and value-added services. The company offers mobile, broadband Internet, Wi-Fi, and television services, alongside digital platforms and solutions. True Corporation is headquartered in Bangkok, Thailand, and was founded in 1990.

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True (TRUEE TB)

Technical Analysis - MAY 9, 2025

Major index constituents — DELTA, AOT, SCC, and the PTT group — saw pullbacks, while foreign investors resumed net selling.

Krungthai XSpring

KTX Zoom: China’s Trade Balance - MAY 9, 2025

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,200/1,192 points and the resistance at 1,215/1,219...

Krungthai XSpring

KTX Zoom: BoE Expected to Cut Interest Rates Further - MAY 8, 2025

Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.

Krungthai XSpring

Technical Analysis - MAY 8, 2025

The index not only held above the 1,200-point area but also quickly advanced toward the 1,235-point resistance faster than expected.

Krungthai XSpring

Technical Analysis - MAY 2, 2025

Key stocks such as DELTA, ADVANC, SCC, GULF, and major banking shares recorded strong gains, while fund inflows helped sustain solid upward momentum.

Krungthai XSpring

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