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Tokyo rubber futures end higher on equities, weak yen

TOKYO, April 15 (Reuters) – Benchmark Tokyo rubber futuresended up 0.7 percent on Tuesday as the market got support fromhigher Japanese equities and a weaker yen, but volumes weresmall due to a holiday in Thailand, brokers said.

The benchmark rubber contract on the Tokyo CommodityExchange (TOCOM) for September delivery rose 1.5 yen tosettle at a three-session high of 215.5 yen ($2.12) per kg.

Thailand’s stock, bond and currency markets are closed onMonday and Tuesday for holidays. Trading will resume onWednesday, April 16.

“Today, Bangkok is on holiday, and there’s nothing much asthere are no cash transactions in Thailand,” said a Tokyo-basedbroker.

Japanese stocks rebounded from six-month lows on Tuesdayafter strong U.S. retail sales data helped calm nerves amid thebackdrop of an escalating crisis in Ukraine, pulling the yendown and supporting exporters.

The U.S. dollar was quoted around 101.81 yen onTuesday, edging further away from a 3-1/2-week low hit onFriday, as the Japanese currency’s safe-haven appeal dimmed.

The most-active rubber contract on the Shanghai futuresexchange for September delivery rose 50 yuan to finishat 15,040 yuan ($2,400) per tonne.

The front-month rubber contract on Singapore’s SICOMexchange for May delivery last traded at 179.20 U.S.cents per kg, down 0.2 cent.

($1 = 101.8500 Japanese Yen)

($1 = 6.2191 Chinese Yuan) (Reporting by Osamu Tsukimori)

– Reuters

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