04 Jul '11, 9am

Thai stocks rise 5%

Thai stocks rise 5%

BANGKOK - Thai stocks soared nearly five percent on Monday after a convincing election win by the opposition reassured traders that stability could return to the politically divided country. The Stock Exchange of Thailand (SET) composite index ended 4.69 percent, or 48.80 points, higher at 1,090.28, in a day of heavy trading after the crucial vote on Sunday. The opposition Puea Thai Party, allied to fugitive ex-premier Thaksin Shinawatra, held talks on Monday with four smaller parties to form a coalition government after it won by a landslide. "Concerns over political stability suddenly reduced after Puea Thai was able to form a five-party coalition," Pichai Lertsupongkit, senior vice president at Thanachart Securities, told AFP Together the five parties hold 299 out of 500 seats in the lower house of parliament, according to Thaksin's sister Yingluck Shinawatra, who is se...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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