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

Equity Bottom-Up

<ul><li>We recommend selling DELTA and KCE, as the stocks have fallen out of our top rankings (returns: -4.23% and -1.58%, respectively).</li><li>PTT has been added to our portfolio (occupying the final ranking) on the expectation of sustained high earnings QoQ in 3Q23E thanks to the recovery of the refining margin and petrochemical spreads.</li><li>Meanwhile, the firm's investment in the future energy business is expected to enhance its long-term competitiveness.</li></ul>

We recommend selling DELTA and KCE, as the stocks have fallen out of our top rankings (returns: -4.23% and -1.58%, respectively).PTT has been added to our portfolio (occupying the final ranking) on the expectation of sustained high earnings QoQ in 3Q23E thanks to the recovery of the refining margin and petrochemical spreads.Meanwhile, the firm's investment in the future energy business is expected to enhance its long-term competitiveness.

Big Cap Tactical Picks (Eng. / August 21, 2023)