Thai Stock Market May Extend Losing Streak

(RTTNews) - The Thai stock market has moved lower in consecutive trading days, sinking almost 20 points or 1.7 percent along the way. The Stock Exchange of Thailand now rests just above the 1,240-point plateau and it may take further damage again on Wednesday.

The global forecast for the Asian markets is soft thanks to geopolitical concerns. The European and U.S. markets were down, likely consigning Asian markets at records highs to profit taking.

For the day, the index shed 6.90 points or 0.56 percent to finish at 1,235.30 after trading between 1,232.40 and 1,251.04. Volume was 6.275 billion shares worth 37.421 billion baht. There were 326 decliners and 131 gainers, with 201 stocks finishing unchanged.

The lead from Wall Street is negative as the major averages opened mixed on Tuesday but quickly headed south and spent most of the balance of the day in the red, finishing off session lows.

The Dow dropped 398.21 points or 0.80 percent to finish at 49,191.99, while the NASDAQ sank 24.03 points or 0.10 percent to close at 23,709.87 and the S&P 500 dipped 13.53 points or 0.19 percent to end at 6,963.74.

The choppy trading by the broader markets reflected uncertainty about the near-term outlook amid rising geopolitical tensions around the world and a flurry of proposals by President Donald Trump.

In U.S. economic news, the Labor Department released a report showing consumer prices in the U.S. increased in line with economist estimates in the month of December.

Crude oil prices skyrocketed on Tuesday, extending a recent surge amid increasing geopolitical risks due to escalating tensions between the U.S. and Iran, which have raised output-and-supply concerns. West Texas Intermediate crude for February delivery was up $1.55 or 2.61 percent at $61.05 per barrel.