04 Jul '11, 4am

Thai Baht rises on pro-Thaksin party's win

BANGKOK - The Thai baht rose by the most since February 2008 and shares may climb after an election victory by allies of exiled premier Thaksin Shinawatra raised prospects foreign investors will return to the nation. The cost of protecting government bonds from default dropped the most in more than a year as Pheu Thai, led by Thaksin's sister Yingluck Shinawatra, will probably win 264 seats in the 500-member parliament, defeating the Democrat party of Prime Minister Abhisit Vejjajiva, according to an Election Commission estimate after 98 percent of the vote was counted. Mr Abhisit congratulated Ms Yingluck and the defense minister said the army accepted the result. Investors have sold Thai stocks and the baht over the past month amid concern a disputed result would spark violence. The decisive win by Thaksin's allies may bring stability to a nation beset by clashes between...

Full article: http://www.todayonline.com/Business/EDC110704-0000428/Tha...

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