King’s Health Weighs on Thai Baht as Stocks Tumble With Bonds
- Benchmark equity gauge is Asia’s worst performer Monday
- King’s health may ‘weigh on investor sentiment’: Maybank
An employee counts one thousand Thai Baht banknotes at a branch of SuperRich money exchange shop in central Bangkok, on Thursday, August 22, 2013.
Photographer: Dario Pignatelli/BloombergThis article is for subscribers only.
Thailand’s baht fell for sixth day, the longest stretch of losses this year, as investors sold the nation’s assets after the royal palace said the king’s condition was unstable.
The benchmark SET Index of shares slumped the most in Asia and the yield on 10-year sovereign bonds climbed to a three-week high after the palace said Sunday doctors are closely monitoring Bhumibol Adulyadej’s condition. The 88-year-old monarch’s health is closely watched as he is revered by many for what they say has been his unifying presence during a seven-decade reign.