Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Israel-Gaza: Back to Square One?

Read more

DEBATE

Israel-Gaza conflict: 72-hour ceasefire deal sets stage for Cairo talks

Read more

WEB NEWS

Web users divided over Darren Wilson

Read more

FOCUS

Spain's El Hierro to become world's first self-powered island

Read more

IN THE PAPERS

A bellwether for what not to do

Read more

ENCORE!

Luc Besson back in action with Scarlett Johansson in 'Lucy'

Read more

FOCUS

Israel's minorities and military service

Read more

MIDDLE EAST MATTERS

Iraq: Kurdish forces fight to protect Yazidis

Read more

DEBATE

Libya unrest: National Assembly asks for UN help to dissolve militias

Read more

  • France’s ex-PM Juppé sets up presidential clash with Sarkozy

    Read more

  • France’s Hollande says global security ‘worst since 2001’

    Read more

  • France urges Iran, others in region, to join fight against IS

    Read more

  • Brutal IS beheading video sparks social media pushback

    Read more

  • A new view on Normandy landings, 70 years on

    Read more

  • Video: Dozens arrested despite smaller protests in Ferguson

    Read more

  • Dozens killed as landslides strike Japan’s Hiroshima

    Read more

  • Deadly airstrikes hit Gaza as ceasefire with Israel collapses

    Read more

  • Suspected Ebola cases in Austria, new drug raises hopes

    Read more

  • WWII anniversary highlights best - and worst - of Paris police

    Read more

  • Headscarf at the beach sparks French MEP’s fury

    Read more

  • Video: Life in under-siege Donetsk

    Read more

  • Racism, riots and police violence: USA under scrutiny

    Read more

  • ‘Let it be’: Londoners sick of Abbey Road tourists

    Read more

Asia-pacific

Thai stocks dive nearly 5% amid concerns for king

Text by News Wires

Latest update : 2009-10-15

Thai stocks slumped 4.69 percent Thursday amid concerns over King Bhumibol Adulyadej's health, and despite assurances from the palace that the 81-year-old's condition was "good".

AFP - Thai stocks dived nearly five percent by the end of morning trading Thursday amid concerns over revered King Bhumibol Adulyadej's health, analysts said. 

The Stock Exchange of Thailand (SET) was down by 4.69 percent to 697.13 points on rumours that the health of the 81-year-old was deteriorating, despite assurances from the palace Wednesday night that his condition was "good".

King Bhumibol, the world's longest-serving monarch, was admitted to hospital on September 19 and put on a drip after being diagnosed with a lung infection, fever, fatigue and loss of appetite.

Rumours of his ill-health circulated globally Wednesday, causing a 2.04 percent drop in Thai stocks by the close of trading.

"Foreign investors continue to sell blue-chip shares on concerns about the same rumour," said senior vice president at Thanachart Securities, Pichai Lertsupongkit, on Thursday, without mentioning the king directly.

"It's a major concern," another analyst with a Bangkok-based brokerage told AFP, asking not to be named.

"The king is a key institution for political stability in Thailand so the market is closely watching his health," he added.

King Bhumibol is a constitutional monarch but has projected an image as the only unifying figure in the country throughout his 63-year reign, and he is revered as a demigod by many Thais.

Thousands have visited Bangkok's Siriraj Hospital since he was admitted to sign a book for well-wishers, according to officials.

His health is a highly sensitive topic in Thailand, which has been rocked by protests since prime minister Thaksin Shinawatra was toppled in a coup in 2006.

The Bangkok-based analyst said another factor affecting the market was mass rallies planned by "Red Shirt" demonstrators loyal to Thaksin, set to take place on October 17 and 24 in the Thai capital.

Date created : 2009-10-15

COMMENT(S)