Thai share prices are likely to see a short-term rise in the coming week if the courts on Monday decide to scrap last month's controversial snap elections, dealers said.
"The market will wait and see about the outcome of the courts on the election," said Sukhbir Khanijoh, an economist with Trinity Securities. "If it turns out that the judges will nullify the elections, the market will react in a positive direction for maybe for a day or two."
A major Thai court announced Thursday that it would finally rule on the constitutionality of the April 2 election, which left the country without a full parliament and forced Prime Minister Thaksin Shinawatra to step aside.
If the snap polls are nullified, as many investors expect, Sukhbir said that the banking and securities sectors will react positively.
For the week to May 4, the Stock Exchange of Thailand composite index rose 35.16 points, or 4.8 percent, to close at 768.22. The trading week was cut short to three days because of national holidays on Monday and Friday.
Next week is also a shortened trading weeking, with a national holiday next Friday.
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