SINGAPORE, Oct 15 (Reuters) - Thai stocks fell more than 8 percent on Thursday in a second day of heavy foreign selling on concerns over the health of Thailand’s king, traders said, despite comments from the palace that his health was improving.
Thailand's benchmark stock index .SETI, which has raced up more than 50 percent this year, was down 8.16 percent at a near six-week low of 671.78 at 0741 GMT, led by selling in large-capitalised stocks.
Earlier, a palace official told Reuters the king’s health was improving but he needed time-consuming physical therapy. [ID:nBAK000891]
King Bhumibol Adulyadej, the world’s longest-reigning monarch at age 81 and Thailand’s single unifying figure, has been in hospital since Sept. 19 when he was admitted with fever and fatigue. His health is an extremely sensitive topic in Thailand.
“Because we don’t know what will happen with the king’s health, investors want to reduce their exposure,” said a senior investment broker, who declined to be identified by name, referring to Thailand’s stock market.
Our Standards: The Thomson Reuters Trust Principles.