Asia Markets Drop after a Sharp Fall in Wall Street Overnight, Thai Stocks May Follow
As the majority of Asia stock markets dropped, SET could also follow in this plummet as the issue of uncertain election date still haunts investors.
Asia markets faced a panic selloff to trade lower on Friday, January 4, 2019 after a plummet in Wall Street overnight. Dow Jones slumped 660.02 points or 2.83%, S&P 500 sank 2.48% and technology-heavy Nasdaq fell 3.04%. Apple dropped nearly 10% after a report of cutting its forecast for its fiscal first quarter ended Dec. 29 to $84 billion from the original forecast between $89 billion and $93 billion.
At 9:05 in Thailand, NIKKEI plunged 3.07%, SSEC skidded 0.12%, ASX 200 slipped 0.89%, KOSPI skidded 0.05%, while HSI just recovered and gained 0.36%.
SET edged lower on Thursday and closed at 1,560.03 points, dipped 5.91 points or 0.38% with ฿39.8 billion in value. A sudden plummet came in the afternoon when investors were worried about a reschedule election date that could overlap the coronation period of King Rama X.
