BANGKOK: The central bank is keeping a close eye on the economy in the expectation that some business activities may slow down during the mourning period for His Majesty the King.
“Amid the bereavement, business and economic activities in some areas may cool down, so the central bank will further monitor the situation,” said Bank of Thailand governor Veerathai Santiprabhob. He said the capital, financial and foreign exchange markets have returned to normal after last week’s panic selling, thanks to strong economic fundamentals on the back of a sound fiscal position, foreign reserves and institutions.
The SET index has bounced back after the market’s free fall, which reflected the confidence of both local and foreign investors. The stock market went into a nosedive, sliding almost 100 points or 6.9% during intraday trading on Oct 12 before clawing back to close the day at 1,406.18 points — a 2.5% retreat.
