(Feb 10): Global funds piled back into Thai equities as a convincing win by incumbent Bhumjaithai Party in Sunday’s election paved the way for policy continuity.
Foreigners bought US$531.3 million ($672.1 million) of the nation’s stocks on a net basis on Monday, the most since February 2022, according to Bloomberg-compiled data. The inflows helped push the benchmark index 3.5% higher on Monday, making the gauge the best performer in Southeast Asia.
“The initial results imply potential stability in the formation of a new coalition government,” Citigroup Inc analyst Preenapa Detchsri wrote in a report. “This could facilitate smoother rollout and execution of long-term policies, in contrast to the political changes experienced during 2023-2025.”
Improving sentiment as well as higher gold prices also boosted the local currency. The baht climbed for a third day on Tuesday, putting it closer to the highest since 2021.
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