Thai Turmoil Threatens Early Gains in World’s Worst Stock Market

Prime Minister Paetongtarn Shinawatra’s suspension from office has eased near-term political risks for Thailand, but investors remain wary about the country’s prospects and market outlook.

While the benchmark SET Index closed 1.9% higher on Monday after the court ruling, market watchers said the gains may be short-lived. The latest political upheaval adds to the risk-off sentiment in the world’s worst-performing benchmark this year as uncertainties over Thailand’s ability to negotiate down a punitive 36% US tariff on exports and passage of outstanding bills weigh.