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.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

United states Financials / Thematic (Sector/Industry)

<ul><li>Over the past three years, Thailand has faced persistent foreign capital outflows (Figure 1), mainly due to the more attractive returns in the US after the Fed rapidly raised interest rates to combat inflation.</li><li>This made US investment yields higher than those in Thailand and strengthened the US dollar against other currencies, including the baht — further encouraging foreign fund outflows.</li><li>However, we expect rising risks in the US to shift this trend, creating opportunities for foreign capital to flow back into Thailand. </li></ul>

Over the past three years, Thailand has faced persistent foreign capital outflows (Figure 1), mainly due to the more attractive returns in the US after the Fed rapidly raised interest rates to combat inflation.This made US investment yields higher than those in Thailand and strengthened the US dollar against other currencies, including the baht — further encouraging foreign fund outflows.However, we expect rising risks in the US to shift this trend, creating opportunities for foreign capital to flow back into Thailand. 

KTX Ahead - August 13, 2025