Thailand’s baht slumped to a one- year low after Southeast Asia’s second-largest economy entered a recession for the first time since 2009. Government bonds were little changed.
Gross domestic product unexpectedly decreased 0.3% in the three months through June from the previous quarter, when it contracted a revised 1.7%, the National Economic and Social Development Board said Monday.
The agency cut its 2013 expansion forecast to 3.8% to 4.3% from 4.2% to 5.2%. The MSCI Asia-Pacific Index of shares fell for a fourth day amid speculation the US Federal Reserve will cut stimulus that inflated emerging-market asset prices.
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