The baht rallied after pro-democracy parties emerged as the biggest winners in Sunday’s election, while stocks linked to some of the nation’s billionaires fell on concern that a new government will introduce more industry competition.
The currency rose as much as 0.9% against the dollar, with investors betting that a coalition government led by the Move Forward Party — the leader in the polls — will be pro-growth. The benchmark SET Index though fell 1.3%, the most since April 5, as the winner has pledged to usher in more competition in sectors such as telecom and power.
