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 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 move sideways down today, with support levels at 1,280 and 1,268 and resistance levels at 1,300 and 1,313.</li><li>The US: US stocks fell (S&amp;P500 –0.63%, NASDAQ –0.47%) amid renewed concerns over regional banks.</li><li>Thailand: The Center for Economic and Business Forecasting at the University of the Thai Chamber of Commerce expects this year’s Vegetarian Festival (October 21–29) to generate Bt45.9bn in spending, up 2% from Bt45.0bn last year — marking the highest level in five years.</li></ul>

The SET Index is expected to move sideways down today, with support levels at 1,280 and 1,268 and resistance levels at 1,300 and 1,313.The US: US stocks fell (S&amp;P500 –0.63%, NASDAQ –0.47%) amid renewed concerns over regional banks.Thailand: The Center for Economic and Business Forecasting at the University of the Thai Chamber of Commerce expects this year’s Vegetarian Festival (October 21–29) to generate Bt45.9bn in spending, up 2% from Bt45.0bn last year — marking the highest level in five years.

Krungthai XSpring Zoom Eng. October 17, 2025

United States

Zions Bancorporation is a bank holding company that operates full-service banking offices in western United States. The Company also offers an array of investment, mortgage, insurance, and electronic commerce services.  In addition, Zions provides financing solutions for small businesses across the United States.

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Zions Bancorporation (ZION US)

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 17, 2025

The SET Index is expected to move sideways down today, with support levels at 1,280 and 1,268 and resistance levels at 1,300 and 1,313.The US: US...

Krungthai XSpring

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