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>After a prolonged slump characterized by growth saturation and a drowsy economy, Thailand’s consumption-driven stocks should enter a phase of recovery.</li><li>We expect a favorable accumulation window through October, leading into the earnings preview period for 3Q25E results, which should mark the seasonal bottom.</li><li>Valuations remain broadly attractive following a significant de-rating since 2023. </li></ul>

After a prolonged slump characterized by growth saturation and a drowsy economy, Thailand’s consumption-driven stocks should enter a phase of recovery.We expect a favorable accumulation window through October, leading into the earnings preview period for 3Q25E results, which should mark the seasonal bottom.Valuations remain broadly attractive following a significant de-rating since 2023. 

Special Report: Turning the Corner on the Consumption Slowdown - July 18, 2025