Thai Assets Rally as Election Victory Signals Policy Continuity
Anutin Charnvirakul, Thailand's prime minister, front row second left, speaks during a news conference at the Bhumjaithai Party headquarters on election night in Bangkok on Feb. 8.
Photographer: Dario Pignatelli/BloombergThailand’s stocks and currency rose as a convincing win by ruling Bhumjaithai Party in Sunday’s election paved the way for policy certainty and improvement in reform momentum.
The benchmark Stock Exchange of Thailand Index closed 3.5% higher on Monday, with shares related to members of the BJT party, including Stecon Group Pcl, among the biggest gainers. The baht strengthened 1% to 31.204 per dollar, outperforming Asian peers, amid a weakening greenback and higher gold prices.