Thai shares ease on fresh Fed signal
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Thai and other regional bourses suffered sell-off today as concerns mount over the economic condition in the United States as well as fresh slump in oil prices.
Comments from Federal Reserve boss Janet Yellen virtually confirming the US central bank will not lift interest rates next month put further pressure on the beleaguered US dollar.
In her testimony to Congress, Yellen made no explicit comments on the Fed's plans to lift rates - after December's rise. Yet, her description of clouds looming over the US economy was taken as a hint there will be no increase in the immediate future.
Energy firms again felt the heat as oil prices continued to head south owing to the supply glut, overproduction and the prospect that demand is unlikely to pick up any time soon. Oil prices sink below US$27 a barrel.
At 1.46pm, the Stock Exchange of Thailand Index lost 1.23 points or 0.09 per cent to 1,303.51 points.
