Martial law move dents Thai stocks
Baht drops 0.6% against US dollar; army's move not a coup, says chief
Add BT as a preferred source[BANGKOK] Thailand's benchmark stock index headed for its biggest drop in almost two weeks and the baht declined as the army imposed martial law nationwide amid persistent political turmoil.
The SET Index fell 1.1 per cent, poised for the biggest drop since May 8, to close at 1,394.69. The baht dropped as much as 0.6 per cent against the US dollar.
The army acted a day after government data showed that gross domestic product (GDP) shrank 0.6 per cent in the first three months of 2014 compared with a year earlier. The move is not a coup and people should not be concerned, Army Chief Prayuth Chan-Ocha said on local television, asking political groups to end protests that began in November and led to Yingluck Shinawatra's ouster as elected leader.
TRENDING NOW
National Day Rally: 8 things to know, from more childcare leave to higher BTO income ceiling
NDR 2026: Every Singaporean child to get direct financial support from birth to age 17
Gold jumps as Treasury buybacks revive debasement concerns
When every phone becomes a satellite phone, what happens to Asia’s telcos?
