SINGAPORE: In a span of three days, more than US$3.85bil has been erased from Thailand’s stock market as political risks heightened ahead of national elections.
The nation’s benchmark SET Index slid 1.3% in that period. In a twist, Thai Raksa Chart, the party linked to exiled former leader Thaksin Shinawatra, saw a bid to make Princess Ubolratana Rajakanya its prime ministerial candidate rapidly unravel on Feb 8 as her brother, King Maha Vajiralongkorn, publicly opposed the move. Activists petitioned the Election Commission about disbanding Thai Raksa Chart for violating election rules.
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