(Bloomberg) -- Thailand is entering a new phase of political uncertainty that threatens to further damage the nation’s fragile financial markets.Most Read...
-- Thailand is entering a new phase of political uncertainty that threatens to further damage the nation’s fragile financial markets .In coming weeks, Thai courts are set to decide the fate of Prime Minister Srettha Thavisin , ex-leader Thaksin Shinawatra and the main opposition party .
Global funds have sold a net $933.8 million of Thai bonds so far this year, while they have offloaded $2.13 billion local equities, the most in Southeast Asian markets tracked by Bloomberg. The outflows have weighed on the local currency, with the baht dropping more than 7% against the dollar this year, Asia’s worst after the yen. The benchmark stock index has tumbled more than 4%.
Meanwhile, Move Forward is facing dissolution after its election campaign pledge to amend the country’s lese majeste law — which protects the royal family from defamation — has angered the royalist establishment. In the latest twist and turn, prosecutors will formally charge Thaksin under the same law on June 18. This poses a fresh jail risk for Thaksin, who is currently on parole after being sentenced in corruption cases.
Thaksin and his party are still useful allies and a buffer for the establishment, particularly when conservatives lack a strong presence in parliament and viable alternative to safeguard their interests, said Napon Jatusripitak, a visiting fellow at ISEAS-Yusof Ishak Institute. “The political uncertainty will hinder the government’s ability to implement much-needed economic policies to help revive the sagging economy,” said Rakpong Chaisuparakul, an investment strategist at KGI Securities Pcl.Who Is Most Likely to Succeed at Elon High?"After eight months of negotiating, and a failed TA, unfortunately management has not recognized the pilots' needs", said Carin Kenny, chair of the ALPA Master Executive Council.
“It will be possible—perhaps only 50 years from now—for a man to conduct his business from Tahiti or Bali just as well as he could from London,” Arthur C. Clarke, author of "2001: A Space Odyssey," said. -- Salesforce Inc.
Srettha Thavisin Thailand Bloomberg Political Uncertainty Paetongtarn Shinawatra Move Forward Party Political Instability Opposition Party Political Turmoil Foreign Investors Financial Markets Samsung Asset Management Southeast Asia Yingluck Shinawatra
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