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.

Equity Bottom-Up

<ul><li>We recommend selling LENOVO13 after its holding-period return fell to -4.8% and opening a position in PLTR80, a DR linked to a leading data analytics and defense technology company.</li><li>Our KTX Tactical DR Portfolio's average return has fallen 2.06% amid a technology stock sell-off after OpenAl's latest reported revenue missed market expectations.</li><li>Our KTX Baht Tracker indicates that the THB is becoming excessively strong.</li></ul>

We recommend selling LENOVO13 after its holding-period return fell to -4.8% and opening a position in PLTR80, a DR linked to a leading data analytics and defense technology company.Our KTX Tactical DR Portfolio's average return has fallen 2.06% amid a technology stock sell-off after OpenAl's latest reported revenue missed market expectations.Our KTX Baht Tracker indicates that the THB is becoming excessively strong.

<ul>
<li>We recommend taking profit on LENOVO13 after its holding-period return reached 21.3%, while maintaining positions in the remaining six DRs.</li>
<li>Our KTX Tactical DR Port was broadly flat (-0.1%) as global equity markets traded within a narrow range amid a lack of fresh catalysts.</li>
<li>Funds rotated back into Al hardware stocks, to which the portfolio has limited exposure.</li>
</ul>


We recommend taking profit on LENOVO13 after its holding-period return reached 21.3%, while maintaining positions in the remaining six DRs.
Our KTX Tactical DR Port was broadly flat (-0.1%) as global equity markets traded within a narrow range amid a lack of fresh catalysts.
Funds rotated back into Al hardware stocks, to which the portfolio has limited exposure.


KTX Tactical DR Picks - September 21, 2026 (Eng.)

<ul><li>We recommend taking profit on HORIZON23, locking in a return of 5.2%, while initiating a position in LENOVO13, a DR referencing a Chinese computer hardware and data center equipment company.</li><li>Our KTX Tactical DR Portfolio's average total return declined by 0.12% amid renewed tensions between the US and Iran.</li><li>Based on our KTX Baht Tracker, the baht has continued to weaken and is approaching an oversold level.</li></ul>

We recommend taking profit on HORIZON23, locking in a return of 5.2%, while initiating a position in LENOVO13, a DR referencing a Chinese computer hardware and data center equipment company.Our KTX Tactical DR Portfolio's average total return declined by 0.12% amid renewed tensions between the US and Iran.Based on our KTX Baht Tracker, the baht has continued to weaken and is approaching an oversold level.

KTX Tactical DR Picks - July 9, 2026 (Eng.)

Cross Asset Strategy

<ul>
<li>There have been no changes to the KTX Tactical DR Portfolio today.</li>
<li>Our KTX Tactical DR Portfolio delivered an average return of +1.87%, driven by a rebound in technology stocks after META expanded its data center investment plans, easing concerns over a slowdown in investment growth.</li>
</ul>


There have been no changes to the KTX Tactical DR Portfolio today.
Our KTX Tactical DR Portfolio delivered an average return of +1.87%, driven by a rebound in technology stocks after META expanded its data center investment plans, easing concerns over a slowdown in investment growth.


KTX Tactical DR Picks - July 10, 2026 (Eng.)

<ul><li>We recommend selling PLTR06 with a -2.2% holding-period return after it fell below our ranking threshold.</li><li>We also recommend opening positions in DDOG19, a DR on a US data analytics company, and LENOVO13, a DR on a leading computer and data-center equipment maker.</li><li>Our KTX Tactical DR Port's average return was broadly flat at +0.14%.</li></ul>

We recommend selling PLTR06 with a -2.2% holding-period return after it fell below our ranking threshold.We also recommend opening positions in DDOG19, a DR on a US data analytics company, and LENOVO13, a DR on a leading computer and data-center equipment maker.Our KTX Tactical DR Port's average return was broadly flat at +0.14%.

KTX Tactical DR Picks - October 1, 2026 (Eng.)

China

Lenovo Group Limited, through its subsidiaries, sells, and manufactures personal computers and handheld devices. The Company also provides Internet services and IT services, and contracting manufacturing business.

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Lenovo Group Ltd Adr (LNVGY US)

KTX Tactical DR Picks

We recommend selling LENOVO13 after its holding-period return fell to -4.8% and opening a position in PLTR80, a DR linked to a leading data...

Krungthai XSpring

KTX Tactical DR Picks - September 21, 2026 (Eng.)

We recommend taking profit on LENOVO13 after its holding-period return reached 21.3%, while maintaining positions in the remaining six DRs. Our...

Krungthai XSpring

KTX Tactical DR Picks - July 9, 2026 (Eng.)

We recommend taking profit on HORIZON23, locking in a return of 5.2%, while initiating a position in LENOVO13, a DR referencing a Chinese computer...

Krungthai XSpring

KTX Tactical DR Picks - July 10, 2026 (Eng.)

There have been no changes to the KTX Tactical DR Portfolio today. Our KTX Tactical DR Portfolio delivered an average return of +1.87%, driven by...

Krungthai XSpring

KTX Tactical DR Picks - October 1, 2026 (Eng.)

We recommend selling PLTR06 with a -2.2% holding-period return after it fell below our ranking threshold. We also recommend opening positions in...

Krungthai XSpring

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