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 to trade with upward volatility in early to mid-November, supported by earnings speculation for 3Q25 alongside some sell-on-fact pressure after results are released.</li><li>In mid- to late November, focus should shift to macro factors such as the G20 Summit, the Fed meeting minutes, and Thailand’s 3Q25 GDP, which could help attract foreign fund inflows.</li><li>Consensus forecasts SET-listed firms’ net profit to rise 16.1% QoQ and 25.8% YoY in 3Q25 (excluding early reporters).</li></ul>

KTX expects the SET Index to trade with upward volatility in early to mid-November, supported by earnings speculation for 3Q25 alongside some sell-on-fact pressure after results are released.In mid- to late November, focus should shift to macro factors such as the G20 Summit, the Fed meeting minutes, and Thailand’s 3Q25 GDP, which could help attract foreign fund inflows.Consensus forecasts SET-listed firms’ net profit to rise 16.1% QoQ and 25.8% YoY in 3Q25 (excluding early reporters).

Monthly Report: November 2025: Outlook: Volatile With An Upward Bias