Thailand’s Financial Markets, Banks to Open as Usual FridayBy
Thailand’s banks and the stock exchange will open as usual Friday as the government hasn’t requested they close following the death of the nation’s king.
“We will open as usual unless they subsequently ask us to close,” Stock Exchange of Thailand President Kesara Manchusree said late Thursday by phone from Bangkok.
Thailand’s baht held gains and an exchange-traded fund tracking the nation’s shares rose after the Royal Household Bureau said King Bhumibol Adulyadej, the world’s longest reigning monarch, had died.
The central bank won’t announce closures as the government hasn’t asked for any, said an official who can’t be identified in line with bank policy.
The baht extended gains to 0.6% from late New York yesterday to 35.444 per dollar, according to data compiled by Bloomberg.
Thailand’s SET Index has fallen 6.1 percent this week, with 30-day volatility on the gauge climbing on Wednesday to the highest level since January. The baht reached the lowest since January and at one stage was heading for its worst week in a decade.
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