Thai Shares Climb on Initial Election Results

Thailand's SET 50 Index climbed 3 points, or 0.3%, to 953 in Wednesday morning deals, hitting its highest level since November 2024, after the ruling Bhumjaithai Party won a clear victory in Sunday’s general election. The win raised the prospect that a more stable coalition may now succeed in bringing an end to a period of prolonged political instability. The BJT, led by incumbent Prime Minister Anutin Charnvirakul, was on track to capture the most seats in the 500-seat lower house and is in pole position to form a coalition. The BJT is set to secure 191 seats out of a possible 500 in the House of Representatives, with the pro-democracy People’s Party on track for 115 seats. Commercial services, non-energy minerals, consumer durables, and industrial services mainly drove the broader index. Among the top performers were True Corp (3.1%), PTT Oil & Retail Business (2.9%), Bumrungrad Hospital (2.4%), Gulf Development (2.3%), and WHA Corp (2.1%).

SET 50 increased to 951.59 Index Points, the highest since November 2024. Over the past 4 weeks, Thailand SET 50 Index gained 14.91%, and in the last 12 months, it increased 13.66%.

The SET 50 index climbed more than 3% on Monday, closing at its highest level since December 2024, after preliminary election results showed a clear lead for Prime Minister Anutin Charnvirakul’s Bhumjaithai Party. Investors welcomed the early clarity, as reduced political uncertainty and expectations of policy continuity boosted confidence. A stable government is seen as likely to maintain existing economic programs and handouts, reassuring both domestic and foreign investors. Nonetheless, analysts caution that it is still too early to gauge the broader economic impact and continue to monitor political risks. Across the index, shares of Stecon Group Pcl surged 18.8%, marking its largest increase since September 2024. Other notable gainers included Forth Corp (+28.7%), DOD Biotech (+17.4%), and Sky ICT (+15.5%).