Srettha’s Premier Vote Win May Spur More Gains in Thai Assets
- The baht, Thai stocks rallied after being battered for months
- Stimulus measures should be launched soon: Trinity Securities
Srettha Thavisin arrives at the Pheu Thai party headquarters in Bangkok, Thailand, on Aug. 22.
Photographer: Andre Malerba/BloombergThis article is for subscribers only.
Former property tycoon Srettha Thavisin won the parliamentary vote to become Thailand’s new prime minister, raising hope for a further rally in the country’s assets after being battered for months due to political stalemate.
Srettha, a representative of Pheu Thai party, won the endorsement from the joint chamber of House of Representatives and senators. The baht gained as much as 0.8% against the dollar, its biggest advance in a month, while the benchmark SET Index jumped 1.3% at the close before the voting results.