On Thursday, the share price of BTS Group Holdings Public Company Limited (SET: BTS) at the time of 11:30 am was at THB 3.52, a THB 0.50 or 12.44% decrease with a total trading value of THB 771.75 million.
Meanwhile, the share price of VGI Public Company Limited (SET: VGI) was at THB 2.10, a THB 0.10 or 4.55% decrease with a total trading value of THB 80.00 million.
Shares of BTS and VGI have continued their downward trend as investors grow increasingly concerned about Thailand’s political uncertainties and the possibility of key government policies stalling mid-course.
Foremost among these is the “20-Baht Flat-Rate Skytrain” policy, with registration set to open through a government app this August. The anxiety has spread to other mega-projects as well, such as the Thailand Entertainment Complex. The draft bill for this integrated entertainment complex is expected to be submitted to parliament in July, though it faces potential delays or resistance amid heightened political tensions.
Market sentiment has further deteriorated after Prime Minister Paetongtarn Shinawatra confirmed the authenticity of a controversial audio clip of her conversation with the President of the Cambodian Senate Hun Sen, explaining it as a “negotiation technique.” The admission, however, has fueled additional public and investor uncertainty and sparked widespread debate.
Against this backdrop of volatility, the market remains focused on whether the Pheu Thai Party’s economic stimulus policies will be able to proceed as planned, amid mounting friction both inside and outside parliament.
