Thailand’s SET Index closed at 1,259.31 points, increased 10.53 points or 0.84% with a trading value of THB 44.70 billion. The analyst stated that the Thai market surged today in response to the proposal to dissolve parliament, paving the way for a general election.
In anticipation of higher spending during election campaigns, the Thai market soared ahead of other Asian markets, which were pressured by the renewed U.S.-China tension.
The analyst expects the Thai market to trade sideways tomorrow.
Phumtham Wechayachai, acting Prime Minister, has submitted a royal decree to dissolve Parliament for royal assent. This move follows a court order that removed Paetongtarn Shinawatra from her position as Prime Minister for ethics violation, which also resulted in the dissolution of the entire cabinet.
Natthaphong Ruengpanyawut, leader of the People’s Party, stated that following careful deliberation, the party’s executive committee resolved that if the House of Representatives convenes to vote on a new Prime Minister, the People’s Party will support Anutin Charnvirakul, leader of the Bhumjaithai Party, for the premiership.
Thailand’s Ministry of Finance stated that in the first ten months of the fiscal year (October 2024 – July 2025), the government has collected a total revenue of THB 2.25 trillion, an increase of THB 40.82 billion or 1.8% YoY, but still lower than the expectation by THB 37.63 billion or 1.6%.
The Euro Zone’s economy continued to grow at a very slow rate in August, with the HCOB Eurozone Composite Purchasing Managers’ Index, compiled by S&P Global, edging slightly higher to 51.0 last month from 50.9 in July.
