Illustrative image (Source: BBC) Hanoi (VNA) - Thailand's baht strengthened onMarch 25 when investors saw a likely win for Palang Pracharath Party whichbacks incumbent Prime Minister Prayuth Chan-ocha.
The baht rose 0.4 percent against the US dollar at 12:45pm(local time). It has been up about 3 percent against the greenback since the year’sbeginning. Meanwhile, Thailand's benchmark stock index dropped 0.89 percent onMarch 25 morning, in line with broader Asia declines.
According to analysts, the possibility of Prayuth remainingin office is positive for Southeast Asia's second-largest economy and encouragedforeign capital inflows.
Kobsidthi Silpachai, head of Kasikornbank capital marketsresearch, said the continuation of economic policies for investors seems to belikely, adding that this should help boost investors’ confidence to a certaindegree.
In the afternoon the same day, the Election Commission (EC) ofThailand delayed the announcement of preliminary vote result without anyreason, saying that it will be announced on March 29.
With 94 percent of polling counted, the EC reported that thepro-junta Palang Pracharat was leading with 7.69 million votes. The Thaksin-linkedPheu Thai Party trailed with 7.23 million votes, showed the initial data.-VNA
The baht rose 0.4 percent against the US dollar at 12:45pm(local time). It has been up about 3 percent against the greenback since the year’sbeginning. Meanwhile, Thailand's benchmark stock index dropped 0.89 percent onMarch 25 morning, in line with broader Asia declines.
According to analysts, the possibility of Prayuth remainingin office is positive for Southeast Asia's second-largest economy and encouragedforeign capital inflows.
Kobsidthi Silpachai, head of Kasikornbank capital marketsresearch, said the continuation of economic policies for investors seems to belikely, adding that this should help boost investors’ confidence to a certaindegree.
In the afternoon the same day, the Election Commission (EC) ofThailand delayed the announcement of preliminary vote result without anyreason, saying that it will be announced on March 29.
With 94 percent of polling counted, the EC reported that thepro-junta Palang Pracharat was leading with 7.69 million votes. The Thaksin-linkedPheu Thai Party trailed with 7.23 million votes, showed the initial data.-VNA
VNA
