Supporters of Move Forward Party leader and prime ministerial candidate Pita Limjaroenrat cheer as they celebrate the party’s election results in Bangkok on Monday. (Reuters photo)
The baht rallied after pro-democracy parties emerged as the biggest winners in Sunday’s election, while stocks linked to some of the nation’s billionaires fell on concern that a new government will introduce more industry competition.
The currency rose as much as 0.9% against the dollar, with investors betting that a coalition government led by the Move Forward Party — the leader in the polls — will be pro-growth. The benchmark SET Index though fell 1.3%, the most since April 5, as the winner has pledged to usher in more competition in sectors…
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