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

Thematic (Sector/Industry)

Thailand Semiconductors and semiconductor equipment / Thematic (Sector/Industry)

<ul>
<li>We believe IT retail stocks are still in the early stages of a new upward cycle, driven by the sharp increase in IT product prices.</li>
<li>Companies in the sector are expected to benefit from this development throughout 2026, which should continue to support strong earnings growth.</li>
<li>Meanwhile, the sector is trading at only 10-16x P/E, below its historical average and at a discount to the broader retail sector.</li>
</ul>


We believe IT retail stocks are still in the early stages of a new upward cycle, driven by the sharp increase in IT product prices.
Companies in the sector are expected to benefit from this development throughout 2026, which should continue to support strong earnings growth.
Meanwhile, the sector is trading at only 10-16x P/E, below its historical average and at a discount to the broader retail sector.


Commerce IT: Compelling Opportunity for the Sector's Next Upcycle - Overweight