Thai stocks slide as worries grow about health of king – marketwatch malaysian ringgit to usd


The stock market plunged Wednesday in Thailand amid simmering concerns about the health of Thai King Bhumibol Adulyadej. Best exchange rate usd to inr The country’s SET Index

Thailand’s currency and stock market dropped to multi-month lows Wednesday, after Thai royal authorities said on Sunday that the 88-year-old king’s health wasn’t stable.

was among the worst-hit Asian currencies on Wednesday. Usd cny The dollar rose as much as 1.3% against the baht Wednesday at one point to hit 35.89, the highest level since Feb. Usd myr chart 3, according to Thomson Reuters data.

The pair had been stable for much of the day, but moved sharply from 35.48 at around 3 a.m. Usa today crossword puzzle Eastern Time to 35.89, Thomson Reuters data showed, before settling at its current level. Gold price in india The baht was last seen down 0.8% at 35.71

to the dollar.

The market was reacting to concerns about the king’s condition and succession plans, said Tareck Horchani, deputy head of Asian Pacific sales trading at Saxo Capital Markets.

Amonthep Chawla, head of research at CIMB Thai, said domestic issues in the country were also likely triggers for the sharp selloff in the baht. Usa today coaches poll There were warnings issued by authorities of terrorist attacks that could have weighed on the currency and stocks, he said. Usd zar exchange rate Fed weighs elsewhere in Asia

Other Asian shares were also broadly lower Wednesday as the odds rose for a U.S. Usd to aed converter interest rate increase in December, leading to worries that foreign investors will pull money out of Asia.

“People are starting to wake up that the hike is coming,” said Hao Hong, head of research at Bocom International. Dow futures market hours “The Fed is running out of excuses not to hike.”

Electronics giant Samsung announced that it is discontinuing the troubled Galaxy Note 7 smartphone. Definition of binary The news came after it had told consumers to stop using the phone while investigators probed reports of overheating batteries.

“This is the first time [in a while] the Fed Fund futures have traded above a 70% [probability] for hiking,” said Heng Koon How, a strategist at Credit Suisse. 300 us in canadian “The market is taking it for real now…the market is very concerned.”

The market will be scrutinizing the minutes from the Federal Open Market Committee meeting in September, to be released later Wednesday. Futures markets quotes Financials fall in Japan

In Japan, stocks were weighed down by losses for steel and financial companies. Exchange rate aed usd Weak second-quarter results from global aluminum major Alcoa Inc.

China’s plans to deleverage firms with high debt ratios by swapping loans for equity are expected to be a drag on Chinese banks, say analysts. Binary to octal examples The specific worry is that banks will be saddled with near worthless equity holdings after swapping for bad loans.

In currencies, China fixed the yuan 0.2% weaker against the U.S. Usd in aud dollar Wednesday, setting the currency at its weakest level since Sept. Aed to usd exchange rate history 15, 2010, according Thomson Reuters data.

This was the third consecutive day of a weaker yuan fixing after China’s weeklong holiday, and the move followed broad dollar strength in the New York session on the back of heightened expectations for a rate increase this year.