Thai authorities on hunt for persons causing stocks to plummet

The Deputy junta head said that the authorities are now hunting for people who are causing Thailand’s stock market to plummet rapidly.

On 13 October 2016, Somkid Jatusripitak, the Deputy junta head on Economy, told media from the Government House, Bangkok, that he has ordered Securities and Exchange Commission of Thailand (SEC) to find people who are spreading rumours causing rapid fall on the nation’s stock market, BBC Thai reported.

He said that Thai people should not become victims of those who are spreading rumours for personal gains, adding that people should trust in the nation’s economic potential and follow news from the government sources only.

This country is now at a very important moment and things will gradually get better, he told media.

Somkid further said that as for the fluctuation of the value of baht, the Thai currency, the Bank of Thailand and the Ministry of Finance will take care of the matter.  
 
Thailand’s stock exchange has been falling rapidly since the beginning of this week after the palace released a statement on 9 October stating that the King’s health condition was ‘unstable’ after going through hemodialysis treatment and an operation to remove brain fluid.
 
On 12 October, after news about the Thai junta leader abruptly cancelling all his public functions to return to Bangkok and that many royal events have been postponed indefinitely, the stock fell further by 99.08 points, the lowest fall in five months.
 

In response to Somkid’s statement, Somsak Jeamteerasakul, the embattled lèse majesté critic and ex-Thammasat lecturer now in self-imposed exile in France, posted a Facebook message on his account that the rapid fall of the Thai stocks is caused by the statement from the palace about the King’s health.   

 
 
Rapid fall of Thai stocks (Source: the Stock Exchange of Thailand