SINGAPORE (Oct 13): Thai King Bhumibol Adulyadej, the world’s longest reigning monarch died on Thursday night. He was 88. Bhumibol has been a symbol of unity in Thailand, which had 10 coups during his seven-decade reign. He had been ill for years, making limited public appearances and spending most of his time in the hospital.

(See also: Thailand’s King Bhumibol has died, royal household bureau says)

The most recent bout of illness before his death triggered a selloff in Thai equities which hit Thailand-focused equity funds (see table below). Since Oct 7, the Kingdom’s benchmark SET Index has tumbled 6.5% in local currency terms to multi-month lows while the Thai Baht has weakened 1.5% against the Singapore dollar.

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