Politician Anutin Charnvirakul is poised to become Thailand’s next prime minister after securing the backing of the largest party in parliament. His elevation would cap days of political uncertainty triggered by the Constitutional Court’s decision to remove Paetongtarn Shinawatra as prime minister for ethical misconduct.
“Thailand will likely be a net beneficiary of the impending outflows from Indonesia as the new government gets appointed and starts to focus on the economy,” said John Foo, founder of Valverde Investment Partners. Investors will “start to focus on Thailand’s key comparative advantages in the healthcare and tourism” sectors.
Thailand’s equity benchmark index rose as much as 0.9% Thursday, taking gains for the week to more than 2%.
See also: SGX launches depository receipts through linkage with Stock Exchange of Thailand
Chart: Bloomberg
