Thai stocks, currency drop after palace statement on King’s health

Stock Exchange of Thailand_new building_Arno Maierbrugger
The King’s portrait at the entrance of the new Stock Exchange of Thailand building in Bangkok © Arno Maierbrugger

A statement by the Thai Bureau of the Royal Household released on October 9 that King Bhumibol Adulyadej’s health condition has been deteriorating to an extent that doctors advised the King to suspend all royal functions is seen to have been among the factors that triggered a slump in Thailand’s stock exchange index of 3.15 per cent on Monday.

On the same day, the Thai baht reached a two-month low to the US dollar as the news from the palace – which are closely monitored in financial markets in Thailand – weighed on investor sentiment.

The palace said in that 88-year-old King’s health was “unstable” after he received kidney dialysis and subsequently experienced problems with his blood pressure. The King will remain under close medical supervision until his condition improves, the statement added.

King Bhumibol, the world’s longest-reigning monarch, is deeply revered in Thailand where he is seen as a stabilising personality in politics.



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[caption id="attachment_29063" align="alignleft" width="300"] The King's portrait at the entrance of the new Stock Exchange of Thailand building in Bangkok © Arno Maierbrugger[/caption] A statement by the Thai Bureau of the Royal Household released on October 9 that King Bhumibol Adulyadej's health condition has been deteriorating to an extent that doctors advised the King to suspend all royal functions is seen to have been among the factors that triggered a slump in Thailand's stock exchange index of 3.15 per cent on Monday. On the same day, the Thai baht reached a two-month low to the US dollar as the news...

Stock Exchange of Thailand_new building_Arno Maierbrugger
The King’s portrait at the entrance of the new Stock Exchange of Thailand building in Bangkok © Arno Maierbrugger

A statement by the Thai Bureau of the Royal Household released on October 9 that King Bhumibol Adulyadej’s health condition has been deteriorating to an extent that doctors advised the King to suspend all royal functions is seen to have been among the factors that triggered a slump in Thailand’s stock exchange index of 3.15 per cent on Monday.

On the same day, the Thai baht reached a two-month low to the US dollar as the news from the palace – which are closely monitored in financial markets in Thailand – weighed on investor sentiment.

The palace said in that 88-year-old King’s health was “unstable” after he received kidney dialysis and subsequently experienced problems with his blood pressure. The King will remain under close medical supervision until his condition improves, the statement added.

King Bhumibol, the world’s longest-reigning monarch, is deeply revered in Thailand where he is seen as a stabilising personality in politics.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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