Thailand is concerned about King Bhumibol's health
King Bhumibol Adulyadej has been in hospital for almost a month and the rumors about his health are having a negative effect on SET, the Thai stock market index. Investors are getting nervous and the stock market is down.
Uncertainty led to major losses on the stock market
Many investors sold the shares en masse, the price of the Baht is also falling. The Ministry of
King-Bhumibol
Finance in Bangkok admitted that the stock market is "very sensitive" to such rumours. But emphasized that the poor stock market performance of the past few days was mainly a normal correction. The SET index already recorded a strong increase of 66 percent this year, putting it on track for its best annual performance since 2003.
The king is recovering from pneumonia
It is not yet entirely clear what the current state of health is like for 81-year-old King Bhumibol. He would have become seriously weakened after a flu, resulting in pneumonia. The Thai government reports that he is now on the mend, but that does not take away the rumors.
The longest-reigning monarch is important for stability Thailand
Bhumibol applies in Thailand as the main factor of political stability. The country has been in the grip of a fierce battle between different political groups in recent months.
King Bhumibol is extremely popular in Thailand. Many people consider him a demigod and symbol of the unity of the nation. That is far from the case for his 57-year-old son, Crown Prince Vajiralongkorn, who does not enjoy much popularity among the population.
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