The Thai stock market bounced back before the closing of the morning session amid some clarity in the process of forming a coalition government after the election on May 14 that kept the market overhung for the most part in the week that followed.
Uncertainties of how the new government will turn out dragged the Thai stock market down 46 points or 3% last week.
Late this morning, the Move Forward Party (MFP) announced that the talks with other political parties to form a coalition government was positive. The winner of the Thai 2023 election noted that the Memorandum of Understanding in forming the government will exclude the controversial adjustment of ACT 112.
MFP once campaigned that it will push for a capital gain tax for equity traders instead of the previous proposal from the current government of transaction tax.
SET Index closed the morning session at 1,517.17 points, increased 2.28 points or 0.15% after being down more than 20 points or around 1.5% in the early morning.