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.

Thematic (Sector/Industry)

<ul><li>For KTX Tactical DR Picks today, we recommend initiating a position in PINGAN80, a DR referencing Ping An Insurance Group Co., which is listed on the Hong Kong Stock Exchange.</li><li>The average return of the underlying securities in the portfolio edged up +0.18% from the previous day.</li><li>Global markets, particularly the US, continued to climb, despite a government shutdown after the US Senate rejected the spending bill last night.</li></ul>

For KTX Tactical DR Picks today, we recommend initiating a position in PINGAN80, a DR referencing Ping An Insurance Group Co., which is listed on the Hong Kong Stock Exchange.The average return of the underlying securities in the portfolio edged up +0.18% from the previous day.Global markets, particularly the US, continued to climb, despite a government shutdown after the US Senate rejected the spending bill last night.

KTX Tactical DR Picks - October 1, 2025 (Eng.)

<ul><li>For KTX Tactical DR Picks today, we recommend initiating a position in TOYOTA80, a DR referencing Toyota Motor Corporation listed on the Japanese stock exchange.</li><li>The average return of the underlying securities in the portfolio rose 0.56% from the previous day, supported by global equity markets increase after US PCE data came in line with expectations, reinforcing the Fed’s rate-cutting path.</li><li>Our study using the KTX Fundamental USDTHB Tracker shows that the baht is on an appreciating trend, posing FX risks for overseas investments, including DRs.</li></ul>

For KTX Tactical DR Picks today, we recommend initiating a position in TOYOTA80, a DR referencing Toyota Motor Corporation listed on the Japanese stock exchange.The average return of the underlying securities in the portfolio rose 0.56% from the previous day, supported by global equity markets increase after US PCE data came in line with expectations, reinforcing the Fed’s rate-cutting path.Our study using the KTX Fundamental USDTHB Tracker shows that the baht is on an appreciating trend, posing FX risks for overseas investments, including DRs.

KTX TACTICAL DR PICKS - September 30, 2025 (Eng.)

<ul><li>No changes were made to KTX Tactical DR Picks today, with positions maintained in five DRs: MITSU19, NVDA80, PINGAN80, TENCENT80, and TRIPCOM80, most of which are tied to Hong Kong-listed stocks.</li><li>The average return of the underlying securities in the portfolio edged up 0.51% from the previous day, driven by gains in Hong Kong-related DRs, particularly TENCENT80 and TRIPCOM80, after the Chinese government introduced additional economic stimulus measures.</li><li>Our study using the KTX Fundamental USDTHB Tracker shows that the baht is on an appreciating trend, posing FX risks for overseas investments, including DRs.</li></ul>

No changes were made to KTX Tactical DR Picks today, with positions maintained in five DRs: MITSU19, NVDA80, PINGAN80, TENCENT80, and TRIPCOM80, most of which are tied to Hong Kong-listed stocks.The average return of the underlying securities in the portfolio edged up 0.51% from the previous day, driven by gains in Hong Kong-related DRs, particularly TENCENT80 and TRIPCOM80, after the Chinese government introduced additional economic stimulus measures.Our study using the KTX Fundamental USDTHB Tracker shows that the baht is on an appreciating trend, posing FX risks for overseas investments, including DRs.

KTX Tactical DR Picks - September 18, 2025 (Eng.)

<ul><li>NINTENDO19 dropped out of the ranking criteria with a return of -1.1%, while TRIPCOM80 was added.</li><li>TRIPCOM80 is a DR linked to TRIP.COM Group, a comprehensive travel platform listed on the Hong Kong Stock Exchange, positioned to benefit from expectations of Chinese government stimulus measures for the tourism sector ahead of the National Day holidays.</li><li>The average return of the underlying securities in the portfolio slipped slightly by 0.02% from the previous day, pressured by the decline in PINGAN80.</li></ul>

NINTENDO19 dropped out of the ranking criteria with a return of -1.1%, while TRIPCOM80 was added.TRIPCOM80 is a DR linked to TRIP.COM Group, a comprehensive travel platform listed on the Hong Kong Stock Exchange, positioned to benefit from expectations of Chinese government stimulus measures for the tourism sector ahead of the National Day holidays.The average return of the underlying securities in the portfolio slipped slightly by 0.02% from the previous day, pressured by the decline in PINGAN80.

KTX TACTICAL DR PICKS - September 17, 2025

<ul><li>For KTX Tactical DR Picks today, we recommend selling AAPL80 after a 3.6% loss, following its removal from our model.</li><li>Meanwhile, we initiate a position in TENCENT80, a DR referencing Tencent Holdings Limited, one of China’s leading technology companies.</li><li>The portfolio’s underlying securities gained 0.55% from the previous day, tracking the continued rally in global equities, supported by softer-than-expected US PPI data and stronger remaining purchase obligation reported by Oracle.</li></ul>

For KTX Tactical DR Picks today, we recommend selling AAPL80 after a 3.6% loss, following its removal from our model.Meanwhile, we initiate a position in TENCENT80, a DR referencing Tencent Holdings Limited, one of China’s leading technology companies.The portfolio’s underlying securities gained 0.55% from the previous day, tracking the continued rally in global equities, supported by softer-than-expected US PPI data and stronger remaining purchase obligation reported by Oracle.

KTX Tactical DR Picks - September 11, 2025 (Eng.)

China

Tencent Holdings Limited operates as an investment holding company. The Company, through its subsidiaries, provides Internet and mobile value-added services (VAS), online advertising, and e-commerce transactions. Tencent Holdings offers services to users worldwide.

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Tencent Holdings (ADR) (TCEHY US)

KTX Tactical DR Picks - October 1, 2025 (Eng.)

For KTX Tactical DR Picks today, we recommend initiating a position in PINGAN80, a DR referencing Ping An Insurance Group Co., which is listed on...

Krungthai XSpring

KTX TACTICAL DR PICKS - September 30, 2025 (Eng.)

For KTX Tactical DR Picks today, we recommend initiating a position in TOYOTA80, a DR referencing Toyota Motor Corporation listed on the Japanese...

Krungthai XSpring

KTX Tactical DR Picks - September 18, 2025 (Eng.)

Our study using the KTX Fundamental USDTHB Tracker shows that the baht is on an appreciating trend, posing FX risks for overseas investments,...

Krungthai XSpring

KTX TACTICAL DR PICKS - September 17, 2025

The average return of the underlying securities in the portfolio slipped slightly by 0.02% from the previous day, pressured by the decline in...

Krungthai XSpring

KTX Tactical DR Picks - September 11, 2025 (Eng.)

Meanwhile, we initiate a position in TENCENT80, a DR referencing Tencent Holdings Limited, one of China’s leading technology companies.

Krungthai XSpring

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