Thailand’s cabinet declared a government holiday on Friday for mourning King Bhumibol Adulyadej, who died the previous day, a cabinet spokeswoman told Reuters. The Stock Exchange of Thailand however said it and other financial institutions would be operating as normal. The stock market opens at 10 a.m.
Bhumibol Adulyadej, who was the world’s longest-reigning monarch, died in hospital on Thursday, the palace said in an announcement. The palace did not give a reason for his death. The King was 88 years old.
Bhumibol, who was highly revered, has suffered from a variety of ailments related to old age, including lung and kidney problems. Only last week, doctors performed a hemodialysis to purify his blood. They also replaced a tube that drains excess cerebrospinal fluid. There is also great concern about the eventual succession plan.
King Bhumibol Adulyadej was Thailand’s lone constant as the country hurtled from a traditional agrarian society to a modern, industrializing nation, and as myriad governments rose and fell.