as the next developments are peaceful. "From a purely monetary point of view, it's good news," Beattie said. "It's removed the sort of impasse that Thailand reached politically." "Some of the short-term investors may take this opportunity to exit," said Hiroshi Yoh, who helps oversee $500 million at Tokio Marine Asset Management International Pte. in Singapore. "But us, as a long-term investor, we are going to stay. We're not going to panic sell Thai stocks." Michael Kurtz, a strategist at Bear Stearns Asia Ltd. in Hong Kong, took a more optimistic view. He upgraded Thailand to "overweight," calling for a greater investment than indicated by benchmarks. "The latest developments in Thailand set up a net reduction in political uncertainty and could speed a resumption of decisive governance that boosts already sagging business and consumer confidence," Relatively low valuations also justify investing in the country, he wrote. The Thai measure is valued at 10.7 times estimated earnings, the lowest among indexes for 14 regional markets tracked by Bloomberg. he wrote in a report. "The best case is that the army succeeds in its goal to stabilize politics, we get a reasonable and responsible interim government, elections that finally end this crazy political impasse we've had through 2006, and investors can enjoy predictable and rational policy making," John Green, head of Asia practice at Eurasia Group in New York, said in an interview. Leading Assets' Depew also said it may be time to buy. "I would not be surprised to see the market move higher in coming months," he said. "Valuations are already reflecting a lot of negative news.". Foreign institutions, with JPM leading, were net buyers of 7,393 million baht ($200 million) on this day, while local institutions and retail investors were net sellers. Currency Thailand's baht rebounded from its biggest loss in three years as investors bet this week's coup will break a political deadlock that has stalled public works spending. The currency rose the most in more than eight months after army chief Sondhi Boonyarataklin took power without bloodshed and pledged to hold elections in October 2007. Parliament has been suspended since February amid an election dispute, blocking 1.7 trillion baht ($45 billion) in spending on roads, bridges and power plants. The baht rose 1 percent to 37.38 per dollar at 2:30 p.m. in Bangkok, after yesterday dropping 1.3 percent, the biggest loss since October 2003. "This represents a