– This is the script of CNBC's news report for China's CCTV on October 14, Friday.
Welcome to CNBC Business Daily, I'm Qian Chen.
Thailand's King Bhumibol Adulyadej, who was the world's longest-reigning monarch, died in hospital on Thursday, the palace said in an announcement.
King Bhumibol reigned for seven decades after ascending the throne in 1946.
His loss will be deeply mourned in Thailand, where he was regarded as a pillar of stability during decades of political upheaval and rapid development.
The country's benchmark SET stock index has fallen 6 percent since Oct. 7, the last trading day before the palace said Bhumibol was in an unstable condition after receiving haemodialysis, a treatment for kidney failure.Over the same period, the Thai baht has weakened around 2 percent against the dollar. The currency has fallen to some of its lowest levels since February.
And the volatility might continue.
[JONATHAN BRODSKY, Cedar Street Asset Management LLC Principal and Founder] "Valuations are becoming interesting but you have this political transition, so there's this balancing act of potentially attractive companies and yet you know, political uncertainty that has certainly has played out of the currency and stock prices over the last few days."
On the political front, Thailand can ride out its succession pain.
The King's son, Crown Prince Maha Vajiralongkorn, is expected to succeed him. Yet the military has of late tightened its grip on power. That may help to avoid a repeat of the prolonged economic turmoil that came with the last big power struggle.
A royal succession, however, might be less problematic than many have long feared.
[CHRISTIAN LEWIS, Eurasia Group Associate, Asia] "I think the transition is gonna be fairly stable here, primarly because palace law dictates first and foremost the succession will the handed off to the destinate there, who is the crown princess here, but in addition to that, the early signs we saw, show the parties had the consensus within the political elites to pass along to the crown prince here."
Wether the new king will remain as powerful and influential as King Bhumibol Adulyadej ramains to be the key question, as the current military government promised an election by the end of 2017.
CNBC Qian Chen, reporting from Singapore.