Thailand’s benchmark SET Index fell 7.2 percent from Oct. 14 to Oct. 15 amid concern over the health of King Bhumibol Adulyadej, who has been hospitalized since Sept. 19 with symptoms of pneumonia. The 81-year-old monarch waved to the crowd and paid respect to memorials of his parents during a public appearance at the hospital on Oct. 23.

The index has gained 53 percent this year. It dropped 2.1 percent Thursday as of 3:09 p.m. local time, falling less than benchmarks in Vietnam and Indonesia.

An unspecified “untrue rumor” led to the declines earlier this month, Thailand’s Securities and Exchange Commission said on Oct. 15. Investors shouldn’t panic about the rumor because the stock market’s fundamentals “remain unchanged,” the statement said.

Source: Bloomberg