Local stock market movements in the past week can be divided into two parts. In the first part, the SET Index rebounded to breach the initial resistance at 1,525 and hit the key resistance at 1,540 on better political clarity, despite a potential delay in government formation and the emergence of a new prime ministerial candidate.
Gains were led by beaten-down energy, retail and information and communication technology (ICT) stocks that were expected to be affected by Move Forward Party policies. These stocks had led the market up in the past two weeks amid changing political prospects.
On Wednesday, however, the market consolidated slightly after parliament rejected a motion to propose Move Forward Party leader…
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