Krungthai XSpring Securities (KTX) stated that its monthly DR Port investment portfolio, for the recommendation in January 2026, emphasizes diversification in leading global stocks and international index funds. The portfolio consists of 10 securities, each with an equal investment allocation of 10%.
The portfolio constituents are Amazon.com (AMZN80), Alphabet (GOOG80), Nvidia (NVDA80), Morgan Stanley (MS06), ASML Holding (ASML01), Fast Retailing or UNIQLO (UNIQLO80), Sumitomo Mitsui Financial Group (SMFG19), Nikkei ETF (NIKKEIBO), Ping An Insurance (PINGAN80), and Zijin Mining Group (ZUIN80).
This DR selection strategy, developed by the Krungthai XSpring analyst team, previously generated an 8.7% return over 8 months (February–September 2025) through weekly DR recommendations via LINE Krungthai Connext. The approach has now evolved into a monthly DR portfolio to enhance investor convenience, while maintaining the same analytical standards.
Regarding the investment outlook, KTX assesses that the global economy will continue to expand in the near term, although recovery will not be uniform across all countries. The United States remains the core of the global economic system, while other countries are in different economic cycles.
As a result, diversification is considered more important than in past years. KTX maintains a positive long-term outlook on U.S. equities due to the strength of its business sector, profitability, and innovative leadership.
However, with equity market valuations at relatively high levels, future returns will mainly rely on profit growth rather than on further expansions in the price-to-earnings ratio (PE). Therefore, investment theme selection and business quality have become increasingly important.
Meanwhile, markets outside the U.S., especially in Asia and emerging economies, are gaining appeal due to more reasonable valuations and country-specific drivers.
Strategically, KTX continues to emphasize structural global growth themes, including advanced technology, infrastructure, industry, finance, and essential resources for long-term expansion. At this late phase of the economic cycle, the company prioritizes profit quality, cash flow, and the ability to manage volatility over simply chasing growth.
As a result, the investment portfolio is intentionally diversified across industry groups and countries, to balance growth opportunities with effective risk management.
