Thailand Stocks, Currency Slump Amid Concern Over King’s Health
- SET Index declines 6.5% this week in biggest drop in world
- Baht weakens after foreigners pull money from sovereign bonds
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Thai stocks and the baht dropped, leading declines in Asia, amid concern over the health of the king and on the prospect of a U.S. rate increase this year.
The baht fell 1 percent against the dollar after being down as much as 1.5 percent earlier. The SET Index retreated as much as 6.9 percent before closing 2.5 percent lower. The stock measure has dropped 6.5 percent this week, the most among about 100 benchmark share indexes tracked by Bloomberg.