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 Derivatives

Palantir Technologies  / Equity Derivatives

<ul><li>We recommend opening a position in PLTR06, a DR linked to a leading data analytics and defense technology company.</li><li>KTX Tactical DR Port's average return was largely flat (-0.15%), as global stock markets came under pressure from renewed Middle East tensions following Iran's increasingly tough stance.</li><li>Our KTX Baht Tracker indicates that the THB is becoming excessively strong.</li></ul>

We recommend opening a position in PLTR06, a DR linked to a leading data analytics and defense technology company.KTX Tactical DR Port's average return was largely flat (-0.15%), as global stock markets came under pressure from renewed Middle East tensions following Iran's increasingly tough stance.Our KTX Baht Tracker indicates that the THB is becoming excessively strong.

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>The Indian IT sector has endured a sharp 25% correction over the past three months, fuelled by investor fears that Gen-AI platforms like Claude (by Anthropic) and Palantir could upend traditional SaaS and IT services models</li><li>Yet the industry demonstrates resilience, contending that deploying these unproven technologies in complex, "brownfield" regulatory landscapes prove far more challenging than the hype implies</li><li>As noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal wins</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Indian IT sector has endured a sharp 25% correction over the past three months, fuelled by investor fears that Gen-AI platforms like Claude (by Anthropic) and Palantir could upend traditional SaaS and IT services modelsYet the industry demonstrates resilience, contending that deploying these unproven technologies in complex, "brownfield" regulatory landscapes prove far more challenging than the hype impliesAs noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal winsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IT Sector: Disruption yields opportunities

Equity Bottom-Up

<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.)

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to weaken, with the support at 1,306/1,302 points and the resistance at 1,320/1,324 points (50-day EMA).</li><li>The Fed is expected to cut interest rates by 50 bps in September and November and another 25 bps in December, as the US economy is at risk of falling into a recession.</li><li>The aforementioned factors tend to support the SET to continue to rebound, with the short-term target at 1,375 points.</li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,306/1,302 points and the resistance at 1,320/1,324 points (50-day EMA).The Fed is expected to cut interest rates by 50 bps in September and November and another 25 bps in December, as the US economy is at risk of falling into a recession.The aforementioned factors tend to support the SET to continue to rebound, with the short-term target at 1,375 points.

Global Services PMIs in July and Thai Inflation

<ul><li>We recommend selling PANW80, PLTR06, and SNOW06 at losses, with holding-period returns of -7.0%, -2.4%, and -6.5%, respectively.</li><li>Meanwhile, we recommend opening positions in DBS19, a DR linked to a leading Singapore financial institution, and ZAI23, a DR linked to a Chinese AI model provider.</li><li>Our KTX Tactical DR Portfolio's average return declined 1.46%, reflecting weakness in software stocks despite a modest recovery in the broader US equity market.</li></ul>

We recommend selling PANW80, PLTR06, and SNOW06 at losses, with holding-period returns of -7.0%, -2.4%, and -6.5%, respectively.Meanwhile, we recommend opening positions in DBS19, a DR linked to a leading Singapore financial institution, and ZAI23, a DR linked to a Chinese AI model provider.Our KTX Tactical DR Portfolio's average return declined 1.46%, reflecting weakness in software stocks despite a modest recovery in the broader US equity market.

KTX Tactical DR Picks - September 3, 2026 (Eng.)

United States

Palantir Technologies Inc. develops software to analyze information. The Company offers solutions support many kinds of data including structured, unstructured, relational, temporal, and geospatial. Palantir Technologies serves customers worldwide.

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Palantir Technologies (PLTR US)

KTX Tactical DR Picks

We recommend opening a position in PLTR06, a DR linked to a leading data analytics and defense technology company. KTX Tactical DR Port's average...

Krungthai XSpring

IT Sector: Disruption yields opportunities

As noted in our December 2025 sector update, we initially pegged AI's deflationary impact at ~4%, anticipating offsets from fresh deal wins

HDFC Securities

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

Global Services PMIs in July and Thai Inflation

Technically, the SET Index is expected to weaken, with the support at 1,306/1,302 points and the resistance at 1,320/1,324 points (50-day...

Krungthai XSpring

KTX Tactical DR Picks - September 3, 2026 (Eng.)

We recommend selling PANW80, PLTR06, and SNOW06 at losses, with holding-period returns of -7.0%, -2.4%, and -6.5%, respectively. Meanwhile, we...

Krungthai XSpring

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