SET jumps to near 1,400 on election clarity; finance minister vows “no populism”, pushes TISA

Thailand’s stock market rallied sharply on Monday morning as the election outcome became clearer and investors bet on the formation of a stable new government, pushing the benchmark index to just under the 1,400-point level on heavy turnover.

Election clarity lifts sentiment; broad-based gains

Trading was upbeat across the board, particularly in stocks expected to benefit from policies under the incoming administration, as market sentiment improved on expectations of political stability.

SET closes morning session near 1,400 on heavy volume

The Stock Exchange of Thailand’s benchmark index closed the morning session at 1,398.96 points, up 44.95 points (+3.32%), with turnover of about 66.818 billion baht. The index hit an intraday high of 1,403.96 and a low of 1,384.61.

Ekniti: “No populism” and fiscal discipline to reassure markets

Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said the index’s sharp rise—more than 50 points at one stage—reflected the business sector’s positive response to policies focused on continuity, particularly the government’s stance that it would not pursue populist policies.

He said this would help maintain confidence among credit rating agencies and reinforce the country’s fiscal discipline, arguing that populism ultimately pushes debt onto future generations. The government, he said, would focus on efficient public spending within a fiscal framework to support short-term recovery and structural reforms for long-term growth.

“A government with a stable majority will help speed up legal processes related to finance and the budget,” he said.

TISA plan to be fast-tracked, dividend tax allowance floated

Ekniti said the government’s capital-market work over the past four months was 99% complete, but was interrupted by the dissolution of parliament. He said the remaining 1%—the creation of a Thailand Individual Savings Account (TISA)—would be pushed forward immediately.

He said TISA would provide a direct and safer route for stock investment, aimed at improving financial independence and reducing risk compared with previous fund structures such as LTF/SSF. The plan would allow a tax benefit on dividends—covering the first 200,000 baht—to encourage savings flows into the capital market and ease the tax burden on retail investors.

Finance Ministry: project 90% complete

Finance Ministry permanent secretary Lavan Saengsanit said the TISA project was about 90% complete, with the remaining 10% reflecting differing views. He said the outstanding issues were not major and would be addressed by fine-tuning criteria to ensure acceptance across stakeholders, adding that the scheme’s core principle—promoting long-term saving—was sound.