Thailand’s SET Index closed at 1,110.01 points, increased 20.45 points or 1.88% with a trading value of THB 41.71 billion. The analyst stated that the Thai market surged sharply in response to roaring positive sentiment after the Constitutional Court of Thailand accepted the petition against Prime Minister Paetongtarn Shinawatra regarding the leaked audio clip between her and Cambodian Senate President Hun Sen. Furthermore, the court ordered a temporary suspension of her Prime Ministerial duties.
The court decision provided clarity to Thailand’s political situation and reduced concerns over potential escalating protests and parliamentary chaos.
In addition, DELTA buying force, an upward prospect on U.S.-Thai trade talk, and cooling crude prices also bolstered the SET Index.
For tomorrow, the analyst recommends investors closely monitoring developments on the U.S. trade talks.
The Constitutional Court resolved unanimously (9-0) to accept the petition against PM Paetongtarn for consideration. By a 7-2 majority, the Court ordered Paetongtarn to cease her Prime Ministerial duties until a ruling is made.
The Royal Thai Government Gazette published a royal announcement regarding the dismissal and appointment of cabinet ministers. This followed the royal command of His Majesty King Maha Vajiralongkorn (King Rama X), who issued an order to declare changes in the executive branch.
China has taken its first step in over a year toward loosening its grip on outbound investments, upping the ceiling on how much institutional investors can allocate to overseas assets in a sign of easing capital controls.
Once a major supporter of Donald Trump, Elon Musk is now openly opposing the current president of the U.S., threatening to form a new political party if Trump’s mega bill passes.
