Thailand’s SET Index closed at 1,236.61 points, decreased 13.48 points or 1.08% with a trading value of THB 52.47 billion. The analyst stated that the Thai market plunged following the dismissal of Prime Minister Paetongtarn Shinawatra and the entire cabinet. Fund inflows are expected to slow down due to political uncertainty.
The analyst expects the Thai market to trade sideways-down next week, recommending investors closely monitor the formation of the new government and the Pheu Thai party’s move.
The Constitutional Court of Thailand has reached a verdict in the high-profile ethics case against Paetongtarn Shinawatra, ruling to dismiss her from the post of prime minister after reviewing an audio recording of a conversation with Cambodia’s Hun Sen.
Following the verdict, Thailand’s Deputy Prime Minister Phumtham Wechayachai and the current cabinet will serve in a caretaker capacity, with the lower house now tasked to select a new leader from a slate of candidates.
The Thai economy softened in July compared to the previous month, as activity in the service sector declined, due to weaker domestic and foreign tourism, reflected in lower tourism revenue.
South Korea’s government has announced an ambitious plan to ramp up fiscal spending in 2026, marking the sharpest budget increase in four years as President Lee Jae Myung’s administration prioritizes economic expansion through heavy investments in artificial intelligence.
