Mobius: Thai market has decoupled from deadly riots

Franklin Templeton guru Mark Mobius believes Thailand's stocks have decoupled from the deadly riots sweeping through the capital of the Asian nation.

Thailand's benchmark SET Index climbed 0.7% yesterday, a second day of gains, even though the country's worst riots in two decades forced the closure of the stock market for the rest of the week.

As many as 16 people are thought to have died yesterday as rioters set fire to over 31 buildings in Bangkok - including the stock exchange.

"The headlines show that it is pretty much a disaster center," Mobius told Bloomberg.

Despite this, Mobius, dubbed the ‘godfather of emerging markets', believes investors are "differentiating these events and saying OK, there are problems and there will be disruptions, but the country will come out of it and investing and trade will continue".