A scare over the health of Thailand's king has delivered a blunt lesson to investors about political risk in a country where many see the revered monarch as the sole hope of reconciliation in an increasingly fractured society.
The palace tried to combat rumours about the 81-year-old king's health with a statement on Wednesday evening, saying his condition was improving after almost a month in hospital with fatigue and breathing problems.
By then the markets were close to panic, falling 8 per cent yesterday on top of a similar drop the day before.
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