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Tuesday, May 17, 2022

Early decline TOCOM rubber on April 11

Tokyo Commodity Exchange (TOCOM) rubber futures on Friday (April 11) in early fall, this week is expected to record a fourth weekly decline, as the market demand in China for the world’s biggest rubber buyer, increased anxiety, In addition, Japan’s stock market decline weighed on market sentiment glue.

TOCOM rubber futures contract prices in September fell 1.0 yen Friday, at 214.7 yen / kg (0020GMT), the contract is expected to fall 3.8 percent this week.

TOCOM rubber futures September contract fell 5.6 yen on Thursday.

Bank of Japan (BOJ) on Friday released the minutes show that a member of the Policy Committee of the Bank of Japan said that the impact of the Japanese yen weakness in consumer prices may be greater than previously projected.

Chinese Premier Li Keqiang said that although import and export data released Thursday shows once again that, since opening in 2014, the world’s second largest economy, China’s economic growth slowed, the government still will not introduce major stimulus in the short term.

People’s Bank of China (PBOC) officials said Thursday that the Chinese government and central bank in the implementation of any economic stimulus measures are required to be extremely cautious, because the contribution of many stimulus measures to promote economic growth in the natural adjustment smaller than the market.

Asian city early Friday, the U.S. dollar against the yen hovering near three-week low at 101.40 yen, as the market convinced the Federal Reserve (Fed) will still not raise interest rates in the short term, the dollar lower.

The Nikkei 225 index fell 2.8 percent on Friday, hitting a low of six months since, involved in the largest U.S. markets in technology stocks one-day drop in two years and a half years, due to the market that such stocks are overvalued.

U.S. crude oil futures prices fell on Friday, involved in the world’s second largest economy, China’s economic data was weak, and the recovery of Libya’s crude oil exports.

As Beijing April 11 10:53 am, Tokyo Rubber reported 216.9 yen / kg, up 0.56 percent.

Translated by Google Translator from http://market.cria.org.cn/4/20194.html

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