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 weaken today, with the support at 1,253/1,250 points (10-day EMA) and the resistance at 1,270/1,280 points.</li><li>US Producer Price Index (PPI) in July rose 0.9% MoM and 3.3% YoY (market expected +0.2% MoM / +2.5% YoY), marking the highest increase since March 2022, mainly driven by higher service costs.</li><li>Thai listed companies that have reported 2Q25 earnings account for 94.3% of total market capitalization (considering only stocks with Bloomberg consensus).</li></ul>

The SET Index is expected to weaken today, with the support at 1,253/1,250 points (10-day EMA) and the resistance at 1,270/1,280 points.US Producer Price Index (PPI) in July rose 0.9% MoM and 3.3% YoY (market expected +0.2% MoM / +2.5% YoY), marking the highest increase since March 2022, mainly driven by higher service costs.Thai listed companies that have reported 2Q25 earnings account for 94.3% of total market capitalization (considering only stocks with Bloomberg consensus).

Krungthai XSpring Zoom Eng. August 15, 2025.

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Counter trend rally call in the global cycle is now coming through after some heart wrenching support tests Thursday. We are targeting S&amp;P 1,918 with scope of reaching for 1,950 thus the most probable target comes in at 1,938.We touted putting on some risk and reducing shorts last week in anticipation of a risk on bounce sequence to re cycle shorts into.WTI called for rise from 28 was off the mark with a low at 26.19; rally target is pattern resistance at 34 but will have immediate trouble above 32. Upside from here will be harder. MT bear target in the 25 region.USD was due for profit taking versus the CAD in particular (slipping below our 1.42 dip target) but also versus some EM FX but our strategic bullish USD view remains firm against EM FX and commodity currencies. Euro is losing ground on stimulus jawboning while the GBP is oversold with sell resistance now at 1.45; our macro 1.35 target is in sight. USD/JPY to see rally to 119.40 if not 120 for a key turn lower again.EEM kissed our 27.50 major target to cover some shorts and the break above resistance on Friday triggered another reduce point for shorts with a 31-32 target to re cycle shorts for test on 26. Asian FX - Lock in gains in THB and MYR shorts. KRW and SGD shorts re cycle/add on chart dips. INR hit 68 in line with a Nifty low.Cycles – The current snap back rally cycle will see price swings moderate and expected to last into early February when a turn is very probable around the 5th.

Counter trend rally call in the global cycle is now coming through after some heart wrenching support tests Thursday. We are targeting S&amp;P 1,918 with scope of reaching for 1,950 thus the most probable target comes in at 1,938.We touted putting on some risk and reducing shorts last week in anticipation of a risk on bounce sequence to re cycle shorts into.WTI called for rise from 28 was off the mark with a low at 26.19; rally target is pattern resistance at 34 but will have immediate trouble above 32. Upside from here will be harder. MT bear target in the 25 region.USD was due for profit taking versus the CAD in particular (slipping below our 1.42 dip target) but also versus some EM FX but our strategic bullish USD view remains firm against EM FX and commodity currencies. Euro is losing ground on stimulus jawboning while the GBP is oversold with sell resistance now at 1.45; our macro 1.35 target is in sight. USD/JPY to see rally to 119.40 if not 120 for a key turn lower again.EEM kissed our 27.50 major target to cover some shorts and the break above resistance on Friday triggered another reduce point for shorts with a 31-32 target to re cycle shorts for test on 26. Asian FX - Lock in gains in THB and MYR shorts. KRW and SGD shorts re cycle/add on chart dips. INR hit 68 in line with a Nifty low.Cycles – The current snap back rally cycle will see price swings moderate and expected to last into early February when a turn is very probable around the 5th.

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 Zoom Eng. August 15, 2025.

The SET Index is expected to weaken today, with the support at 1,253/1,250 points (10-day EMA) and the resistance at 1,270/1,280 points.

Krungthai XSpring

Measuring Rally Caps

Counter trend rally call in the global cycle is now coming through after some heart wrenching support tests Thursday. We are targeting S&P...

Thomas Schroeder

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