FX.co ★ Thailand Shares Slide on Rising Political Unrest

On Thursday, the SET 50 index experienced a decline of over 1%, approaching the 690 mark, nearing its lowest point since March 2020. This downturn in the market is largely attributed to escalating political tensions adversely affecting investor sentiment. A significant development was the withdrawal of the coalition's second-largest party, which has dealt a substantial blow to Prime Minister Paetongtarn Shinawatra. The Prime Minister is currently under pressure, facing calls for her resignation after alleging that her own military contributed to a border dispute with Cambodia. The situation has further intensified following the release of a recorded conversation between Shinawatra and Cambodian Senate President Hun Sen. In response to these challenges, Thai authorities are set to launch a "corporate value enhancement program" later this month, an initiative aimed at bolstering investor confidence in light of weak market performance and dwindling engagement. The benchmark index has decreased approximately 23% this year, with widespread losses across the stock exchange. Noteworthy declines include those of Advanced Info Service at -2.2%, Gulf Energy Development at -3.1%, CP All at -3.9%, and Bangkok Dusit at -2.9%.