Global Markets Keep on Plunging Despite Oil Rises, Asia Stocks Trade with Mix Sentiment
The rise of oil price did not help buoy the global market as much as it should be. The Wall Street kept on falling, while S&P 500 hit its five days straight in a loss.
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Global stock markets keep on slumping on Wednesday, November 14, 2018, which leads to the bad sentiment on the Asia markets on Thursday morning to go up and down.
 
Dow Jones closed the day with 206 points lower on Wednesday, downed by 0.81%. The Dow plunged more than 400 points from its highs of the day. NASDAQ pulled back 64.48 points or 0.9%. The S&amp;P 500 fell 0.8% towards its fifth straight day of losses as Apple and bank shares struggle. On the bright side, oil price finally rose to end the longest ever losing streak for U.S. crude after a report that OPEC and its partners are discussing a proposal to cut output by up to 1.4 million barrels per day (bpd).
The global markets are also at risk sentiment after British Prime Minister Theresa May said she had obtained enough support for her proposed Brexit deal to move forward, to face the next step in parliament.
 
Asia stocks were mixed on Thursday morning. At 9:05 a.m. in Thailand, NIKKEI fell 0.57%, HSI gained 0.19%, ASX 200 stumbled 0.53%, and KOSPI plunged 0.35%. On the other hand, SSEC edged up 0.43%.
Analysts believe that SET’s support level at 1,650 points is still considerably strong at this points along with lower pressure from global market, despite the plummet on Wall Street last night.
 