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 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

<ul><li>The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.</li><li>The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.</li><li>We expect the index to continue climbing toward the 1,300-point target.</li></ul>

The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.We expect the index to continue climbing toward the 1,300-point target.

Krungthai XSpring Technical Eng. September 26, 2025

<ul><li>The SET Index is expected to move higher today, with the support at 1,272/1,264 and the resistance at 1,284/1,296.</li><li>Concerns about the credit rating appear limited, as foreign investors returned to net buying for the first time in five days.</li><li>Fitch Ratings maintained Thailand’s credit rating at BBB+ but revised the outlook to Negative from Stable, citing political risks and high public debt at 59.4% of GDP in August, about 25 ppt above pre-COVID levels.</li></ul>

The SET Index is expected to move higher today, with the support at 1,272/1,264 and the resistance at 1,284/1,296.Concerns about the credit rating appear limited, as foreign investors returned to net buying for the first time in five days.Fitch Ratings maintained Thailand’s credit rating at BBB+ but revised the outlook to Negative from Stable, citing political risks and high public debt at 59.4% of GDP in August, about 25 ppt above pre-COVID levels.

Krungthai XSpring Zoom Eng. September 25, 2025

<ul><li>The SET attempted a rebound, led by a surge in DELTA, but lacked new supporting factors amid concerns over fund outflows following the weaker baht.</li><li>The index plunged for the fifth straight day, pressured by continuous foreign investor sell-offs over the same period.</li><li>We expect the index to either rebound or move sideways after consecutive declines.</li></ul>

The SET attempted a rebound, led by a surge in DELTA, but lacked new supporting factors amid concerns over fund outflows following the weaker baht.The index plunged for the fifth straight day, pressured by continuous foreign investor sell-offs over the same period.We expect the index to either rebound or move sideways after consecutive declines.

Krungthai XSpring Technical Eng. September 24, 2025

<ul><li>The SET Index is expected to trade with upward volatility today, with the resistance at 1,300/1,310 and the support at 1,290/1,284.</li><li>US equities closed higher on Friday (S&amp;P500 +0.49%, NASDAQ +0.72%), supported by the Fed’s rate cut after new Fed governor Stephen Miran remarked that “import tariffs have no significant impact on inflation.”</li><li>The Royal Gazette has officially published the royal endorsement of the new Cabinet.</li></ul>

The SET Index is expected to trade with upward volatility today, with the resistance at 1,300/1,310 and the support at 1,290/1,284.US equities closed higher on Friday (S&amp;P500 +0.49%, NASDAQ +0.72%), supported by the Fed’s rate cut after new Fed governor Stephen Miran remarked that “import tariffs have no significant impact on inflation.”The Royal Gazette has officially published the royal endorsement of the new Cabinet.

Krungthai XSpring Zoom Eng. September 22, 2025

United States

WisdomTree Middle East Dividend Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond to the price and yield performance of the WisdomTree Middle East Dividend Total Return Index.

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Wisdomtree Middle East Dvd (GULF US)

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

Krungthai XSpring Technical Eng. September 26, 2025

The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 25, 2025

Concerns about the credit rating appear limited, as foreign investors returned to net buying for the first time in five days.

Krungthai XSpring

Krungthai XSpring Technical Eng. September 24, 2025

The SET attempted a rebound, led by a surge in DELTA, but lacked new supporting factors amid concerns over fund outflows following the weaker baht.

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 22, 2025

The SET Index is expected to trade with upward volatility today, with the resistance at 1,300/1,310 and the support at 1,290/1,284.

Krungthai XSpring

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