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.

Macroeconomics

<ul><li>The SET Index is expected to move in a sideways-up trend due to renewed concerns over a global trade war, after the US president threatened to raise import tariffs on Europe to 50% on July 9, 2025, and to impose a 25% import tariff on iPhones.</li><li>However, Thailand's 2Q25E economic outlook still shows positive signs, supported by export growth, which should help the support level around 1,160-1,173 points absorb pressure effectively (with the resistance at 1,185/1,200 points).</li><li>It is recommended to invest in defensive stocks, those benefiting from the baht's appreciation (GULF, MOSHI), and those supported by government stimulus measures (MTC).</li></ul>

The SET Index is expected to move in a sideways-up trend due to renewed concerns over a global trade war, after the US president threatened to raise import tariffs on Europe to 50% on July 9, 2025, and to impose a 25% import tariff on iPhones.However, Thailand's 2Q25E economic outlook still shows positive signs, supported by export growth, which should help the support level around 1,160-1,173 points absorb pressure effectively (with the resistance at 1,185/1,200 points).It is recommended to invest in defensive stocks, those benefiting from the baht's appreciation (GULF, MOSHI), and those supported by government stimulus measures (MTC).

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>700 HK/BIDU US: Tencent announced a comprehensive AI technology upgrade for its browser product "QQ Browser" (+/-/-)</li>
<li>700 HK: Tencent's &lt;Final Fantasy 14 Mobile&gt; to Launch Technical Beta Test (+)</li>
<li>AAPL US/BABA US: Alibaba and Apple's AI collaboration faces US government scrutiny (-/-)</li>
</ul>


700 HK/BIDU US: Tencent announced a comprehensive AI technology upgrade for its browser product "QQ Browser" (+/-/-)
700 HK: Tencent's &lt;Final Fantasy 14 Mobile&gt; to Launch Technical Beta Test (+)
AAPL US/BABA US: Alibaba and Apple's AI collaboration faces US government scrutiny (-/-)


[Blue Lotus Daily-TMT Update]:700 HK/BIDU/AAPL/BABA US/3690 HK/PDD US/TCOMUS/1024 HK/WRD US/PONY US/

<ul>
<li>BIDU US: Baidu Apollo Partners with CAR Inc to Pioneer Autonomous Ride-Hailing in Tourism Hubs (+)</li>
<li>JD US: JD.com Launches Unlimited-Salary Tech Talent Program to Rival Google DeepMind (-)</li>
<li>PDD US : Slight Increase in Technology Service Fees (+)</li>
</ul>


BIDU US: Baidu Apollo Partners with CAR Inc to Pioneer Autonomous Ride-Hailing in Tourism Hubs (+)
JD US: JD.com Launches Unlimited-Salary Tech Talent Program to Rival Google DeepMind (-)
PDD US : Slight Increase in Technology Service Fees (+)


[Blue Lotus Daily-TMT Update]:BIDU US/JD US/PDD US/AAPL US/BILI US/700 HK

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

<ul>
<li>Chinese exporters use fake labels and rerouting to dodge Trump tariffs, straining Asian trade hubs and triggering global customs crackdowns.</li>
<li>Brookfield-Backed Avaada plans INR 4,000–5,000 crore IPO for its solar module arm, expanding India’s green energy manufacturing ambitions.</li>
<li>
<a href="https://www.smartkarma.com/entities/indraprastha-gas-ltd" target="_blank" data-smartkarma-citation="entities:6969:1" rel="noopener">Indraprastha Gas (IGL IN)</a> hikes CNG prices for the second time in a month, targeting 33% higher realisations and stronger margins by FY26.</li>
</ul>


Chinese exporters use fake labels and rerouting to dodge Trump tariffs, straining Asian trade hubs and triggering global customs crackdowns.
Brookfield-Backed Avaada plans INR 4,000–5,000 crore IPO for its solar module arm, expanding India’s green energy manufacturing ambitions.

Indraprastha Gas (IGL IN) hikes CNG prices for the second time in a month, targeting 33% higher realisations and stronger margins by FY26.


#142 India Insight: Tariff Dodging, Avaada’s IPO Push, and CNG Hikes Reshape Asia’s Trade, Energy

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

<ul>
<li>Global companies are shifting supply chains, adopting the "China+1" strategy, with India emerging as a significant winner, attracting manufacturing and investment across sectors like electronics, EVs, and textiles.</li>
<li>India offers a strategic alternative to China, with favorable policies, a growing domestic market, and trade advantages, positioning itself as a manufacturing hub amid global trade shifts.</li>
<li>India is no longer just a backup for China; it's becoming the primary destination for global supply chains, reshaping the manufacturing ecosystem with deepening local integration and technological advancements.</li>
</ul>


Global companies are shifting supply chains, adopting the "China+1" strategy, with India emerging as a significant winner, attracting manufacturing and investment across sectors like electronics, EVs, and textiles.
India offers a strategic alternative to China, with favorable policies, a growing domestic market, and trade advantages, positioning itself as a manufacturing hub amid global trade shifts.
India is no longer just a backup for China; it's becoming the primary destination for global supply chains, reshaping the manufacturing ecosystem with deepening local integration and technological advancements.


Global Reshuffling: Whether India Will Win from China+1?

United States

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

Price Gauge
52-week Range	0.00 - 0.00
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Apple (AAPL US)

Trade War Concerns Resurfaced

The SET Index is expected to move in a sideways-up trend due to renewed concerns over a global trade war, after the US president threatened to...

Krungthai XSpring

[Blue Lotus Daily-TMT Update]:700 HK/BIDU/AAPL/BABA US/3690 HK/PDD US/TCOMUS/1024 HK/WRD US/PONY US/

Tencent upgrades QQ Browser with AI, launches Final Fantasy 14 Mobile beta; Alibaba and Apple's AI collaboration under US government scrutiny.

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BIDU US/JD US/PDD US/AAPL US/BILI US/700 HK

Baidu partners with CAR Inc for autonomous ride-hailing, JD.com launches tech talent program, Pinduoduo sees slight increase in service fees.

Blue Lotus Research Institute

#142 India Insight: Tariff Dodging, Avaada’s IPO Push, and CNG Hikes Reshape Asia’s Trade, Energy

Chinese exporters evade Trump tariffs with fake labels, Avaada plans massive IPO for solar arm in India, Indraprastha Gas raises CNG prices for...

Sudarshan Bhandari

Global Reshuffling: Whether India Will Win from China+1?

Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...

Nimish Maheshwari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Trade War Concerns Resurfaced

The SET Index is expected to move in a sideways-up trend due to renewed concerns over a global trade war, after the US president threatened to...

Krungthai XSpring

[Blue Lotus Daily-TMT Update]:700 HK/BIDU/AAPL/BABA US/3690 HK/PDD US/TCOMUS/1024 HK/WRD US/PONY US/

​Tencent upgrades QQ Browser with AI, launches Final Fantasy 14 Mobile beta; Alibaba and Apple's AI collaboration under US government scrutiny.

Blue Lotus Research Institute

[Blue Lotus Daily-TMT Update]:BIDU US/JD US/PDD US/AAPL US/BILI US/700 HK

​Baidu partners with CAR Inc for autonomous ride-hailing, JD.com launches tech talent program, Pinduoduo sees slight increase in service fees.

Blue Lotus Research Institute

#142 India Insight: Tariff Dodging, Avaada’s IPO Push, and CNG Hikes Reshape Asia’s Trade, Energy

​Chinese exporters evade Trump tariffs with fake labels, Avaada plans massive IPO for solar arm in India, Indraprastha Gas raises CNG prices for...

Sudarshan Bhandari

Global Reshuffling: Whether India Will Win from China+1?

​Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...

Nimish Maheshwari

Tencent upgrades QQ Browser with AI, launches Final Fantasy 14 Mobile beta; Alibaba and Apple's AI collaboration under US government scrutiny.

Baidu partners with CAR Inc for autonomous ride-hailing, JD.com launches tech talent program, Pinduoduo sees slight increase in service fees.

Chinese exporters evade Trump tariffs with fake labels, Avaada plans massive IPO for solar arm in India, Indraprastha Gas raises CNG prices for...

Global companies are turning to India as a strategic alternative to China, shifting supply chains and investments across various sectors,...