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 Health care / Thematic (Sector/Industry)

<ul><li>We recommend investing in STGT (consensus TP: Bt14.03) as we anticipate the company will benefit from the opportunity to increase its market share in the US, replacing imports from China after the US raises tariffs on rubber gloves from 7.5% to 25.0% in 2026.</li><li>Although Thailand may see gains in other sectors, such as solar cells, semiconductor products, and steel pipes, the impact on related SET-listed companies may be minimal.</li><li>In early August 2024, the US implemented a new round of tariffs on China, increasing import duties on 14 additional products, including semiconductor products, medical devices and equipment, as well as clean energy-related items such as electric vehicles, lithium-ion batteries, and solar panels. These tariffs will remain in effect until 2026.</li></ul>

We recommend investing in STGT (consensus TP: Bt14.03) as we anticipate the company will benefit from the opportunity to increase its market share in the US, replacing imports from China after the US raises tariffs on rubber gloves from 7.5% to 25.0% in 2026.Although Thailand may see gains in other sectors, such as solar cells, semiconductor products, and steel pipes, the impact on related SET-listed companies may be minimal.In early August 2024, the US implemented a new round of tariffs on China, increasing import duties on 14 additional products, including semiconductor products, medical devices and equipment, as well as clean energy-related items such as electric vehicles, lithium-ion batteries, and solar panels. These tariffs will remain in effect until 2026.

Rubber Gloves to Benefit from US Hiking Import Tariffs on China