Bangkok, Sep 21 (DPA) The Bangkok bourse dropped 4.2 percent in the first minutes of trading Thursday in response to a military coup staged Tuesday night.

The Stock Exchange of Thailand (SET) Index opened at 702.63 and slipped 29.64 points in the first minutes of trading Thursday morning.

The SET was closed Wednesday in the aftermath of the military's seizure of power, as were banks, businesses and schools.

Meanwhile, the baht currency strengthened to 37.52 baht to the dollar from 37.76 to the dollar Wednesday.

The coup, led by Army Commander-in-Chief General Sonthi Boonyaratklin, was bloodless and met no resistance in overthrowing the caretaker cabinet of former Thai Prime Minister Thaksin Shinawatra, who was in New York Tuesday.