Political change, Thai PM appointment poised to boost stocks

The anticipated appointment of Thailand‘s 30th prime minister this week is predicted to bolster stocks likely to benefit from political change and the policies and stimulus measures proposed by the Pheu Thai Party, reported Bangkok Post.

Brokerage firm Asia Plus Securities (ASPS) projects the 11-party coalition, which declared on Monday its possession of 314 MP seats, will secure enough senatorial support to form a new government and appoint the premier in Tuesday’s parliamentary meeting. Consequently, a new Cabinet could be established by the end of the month.

The execution of this government formation would alleviate concerns surrounding the political vacuum and the 2024 budget that has weighed heavily on the Stock Exchange of Thailand (SET) index, according to a research note issued by ASPS.

Investors are expected to speculate on…