(Bloomberg) -- Thai equities are poised for a record stretch of quarterly losses after international investors continued to pull money out amid political uncertainty.

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The benchmark SET Index has dropped more than 5% this quarter, set for its sixth quarterly decline. That’s the longest consecutive such losing streak since Bloomberg began collecting data in 1987. Foreign funds have sold net $1.23 billion of local shares since the end of March, taking their outflows this year to $3.16 billion.

Thailand’s equity market is fragile and volatile due to heightened political risk, InnovestX Securities Co. wrote in a note. The nation’s stocks will continue to underperform the region on prolonged pressure from political uncertainty, it said.

Court hearings in coming weeks will either ease or exacerbate political risk. They include cases deciding on the fate of Prime Minister Srettha Thavisin, ex-leader Thaksin Shinawatra — the de facto leader of the ruling party — and the main opposition party.

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