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Thai stock index falls 3.2% after palace statement on king's health

Monday, October 10, 2016 - 11:36
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[BANGKOK] Thailand's stock exchange fell 3.2 per cent on Monday, a day after the palace said in a statement that 88-year-old King Bhumibol Adulyadej's health was in an unstable condition.

The Stock Exchange of Thailand suffered its biggest intraday decline in 27 days, or since Sept 14. By 0316 GMT it was down 2.3 per cent.

The Thai baht fell to as low as 35.065 to the US dollar, the weakest since July 26.

Thailand's king, the world's longest reigning monarch, is in an unstable condition after receiving haemodialysis treatment, the palace said on Sunday.

News about the king is closely monitored in financial markets in Thailand, where King Bhumibol is widely revered and where he is seen as arbiter in politics.

REUTERS