Oct 14 Thailand's stock market rose on Friday
and the baht currency firmed as the government urged the country
to remain calm after the death of revered King Bhumibol
Prime Minister Prayuth Chan-ocha said government officials
will mourn for one year and that Thai people have been asked not
to hold festivities for the next 30 days. But he also urged
businesses and individuals to keep investing.
"On the economic side, whether it's the stock market, trade,
investment and business sector, please don't stop," he said.
Given a smooth transition, major disruptions are not
expected, analysts and diplomats said. Banks and financial
markets opened as usual on Friday, though it was declared a
holiday for mourning.
"On the assumption that the succession goes smoothly, I
would assume that foreign investor inflows will continue," said
Andrew Bresler, director at Saxo Capital Markets based in
Thailand's major share index rose more than 3
percent in early trade, snapping a four-day losing streak. It
has been falling this month on concerns over the king's health,
and is still down 4.8 percent so far in October.
The baht opened up more than 1 percent, after
recently nearing three-month lows.
The king had been unwell for much of the past year and the
announcement by the palace of his passing away followed two
announcements made over the past week about his deteriorating
(Reporting by Susan Mathew in Bengaluru; Editing by Kim