MARKETS-Thai stocks, baht weaken as Bangkok reopening reportedly delayed
Thailand's baht and stocks fell on Friday as a report that the reopening of capital Bangkok to international tourists would be delayed weighed on sentiment, while a firmer U.S. dollar kept moves in other emerging Asian currencies subdued.
The Bangkok Post on Thursday reported here Thailand's tourism minister Phiphat Ratchakitprakarn as saying the reopening of the city to foreigners should be delayed by two weeks, as the country attempts to inoculate a larger proportion of its population.
The tourism-reliant nation had planned to allow vaccinated tourists into Bangkok by Oct. 1.
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Stocks in the country fell 0.6%, while the baht weakened 0.4%.
Analysts at Maybank pointed to a "dire" outlook for tourism as well as pressure from a strengthening dollar as catalysts for investors to exercise caution towards the baht.
The dollar rose following an unexpected rise in U.S. retail sales for August, which offset some concerns about growth in the world's largest economy and signalled the Fed might opt for an earlier tapering of its massive pandemic-fuelled stimulus.
Reference: Reuters
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