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)

Thailand Financials / Thematic (Sector/Industry)

<ul><li>KTX expects the SET Index in January 2026 to trade in a sideways to sideways-up range, supported by a generally positive macro environment that helps sustain market confidence.</li><li>The SET Index is currently trading at a premium of around 5% to its fair value of 1,321 points (based on an earnings yield gap of 5.6%), suggesting that valuations remain relatively tight.</li><li>We recommend emphasizing high-dividend stocks to help mitigate market volatility.</li></ul>

KTX expects the SET Index in January 2026 to trade in a sideways to sideways-up range, supported by a generally positive macro environment that helps sustain market confidence.The SET Index is currently trading at a premium of around 5% to its fair value of 1,321 points (based on an earnings yield gap of 5.6%), suggesting that valuations remain relatively tight.We recommend emphasizing high-dividend stocks to help mitigate market volatility.

Monthly Report: JANUARY 2026: Outlook: Sideways With An Upward Bias