For the soup, heat a pan until hot and add the butter, shallots and thyme and cook for two minutes.
Add the asparagus stalks, reserving the tips for the salad, and cook for one minute.
Add the white wine, bring to the boil and cook until the liquid is reduced by half.
Add the chicken stock and bring to the boil. Reduce the heat and simmer for 7-8 minutes, until the asparagus is just tender.
Remove from the heat and blend with a hand blender or place into a food processor (allow to cool for 3-4 minutes) and blend until smooth.
Return the soup to the pan over a medium heat and add the cream. Stir well and season, to taste, with salt and freshly ground black pepper.
For the stir fry, heat a frying pan until hot and add the potatoes and olive oil and fry for 2-3 minutes, or until beginning to colour.
Add the reserved asparagus tips and stir-fry for 2-3 minutes, or until the asparagus is cooked through.
Remove from the heat and add the watercress and chives. Mix well and season, to taste, with salt and freshly ground black pepper.
To serve, divide the potato and asparagus stir fry equally among the centre of shallow soup bowls and ladle the soup around each.