The defeat of parties allied with the military in Thailand’s election may put a cap on years of control by factions backed by the country’s pro-monarchy military. Analysts say the progressive parties that won may not see a smooth transfer to power
of institutional change including limiting the army's role in politics, scrapping military conscription and - most controversially - amending a law that penalises insulting Thailand's king with up to 15 years in prison.
Some energy shares, such as heavyweight Gulf Energy, took a hit on expectations a new government would curb energy prices and dismantle monopolies. The baht also pared earlier gains. to return in July to Thailand, where he faces prison for corruption convictions that he says are politically motivated.Move Forward's position that it wants to amend - though not abolish - the law punishing royal insult is likely to make it difficult to find enough coalition partners to form a government.
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