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Wednesday, May 1, 2024

Stocks rise as political fears subside

Election result led to 3 days of decline

Pita Limjaroenrat, leader of the Move Forward Party, waves to supporters of the party on Wednesday at a gathering of political parties in Bangkok. (Photo: Wichan Charoenkiatpakul)

The Stock Exchange of Thailand (SET) returned to positive territory on Thursday after falling for three consecutive days following Sunday’s election, with the victorious Move Forward Party (MFP) announcing a plan to form a coalition government with 313 members of parliament.

The SET index joined a regional rally among Asian bourses, tracking overnight gains on Wall Street, as concerns about a US debt default subsided. Market sentiment expects US President Joe Biden and House…

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