The 500 members of Thailand’s House of Representatives who were elected in May reportedly received their election results confirmed by the country’s Election Commission on Monday, clearing the way for the first session of parliament to begin within two weeks in preparation for the formation of a new government.
Thailand’s election body endorsed all 500 lower house winners, which must convene within 15 days to nominate a speaker and summon for a joint session of the bicameral legislature to vote on a prime minister.
After nine years of government dominated by the military, the progressive Move Forward party carried out an unexpected win in the May 14 election, followed by the populist Pheu Thai party.
On May 22, the Move Forward Party and seven other parties, including Pheu Thai, signed an agreement for coalition government, committing to support the candidacy of the Move Forward Party’s leader Pita Limjaroenrat for prime minister.
Krungsri Capital Securities views the election board’s confirmation of the results from last month’s election as a positive development that could boost the benchmark index on the Stock Exchange of Thailand. Domestic players like MAKRO, BBL, KBANK, MC, and ICHI are likely to benefit from this.