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TOCOM rubber futures rose on October 9, because Japanese stocks upward

Tokyo Commodity Exchange (TOCOM) rubber (12580, 110.00, 0.88%) futures on Thursday (October 9) rose for a third day, boosted by Japanese stocks upward, while the data show increased capital spending in Japan, which also provide support for the rubber futures prices upward.

TOCOM rubber futures contract prices in March rose 1.9 yen on Thursday, at 183.0 yen / kg (0017GMT), its price rose 1.7 yen on Wednesday.

Data released Thursday showed that Japan’s corporate capital spending in August large consecutive month increase, due to large companies in the investment in plant and equipment as the profit increase, which could push the world’s third-largest economy, Japan’s economic recovery .

The private sector, a survey released Wednesday showed Chinese service sector growth slowed slightly in September, due to decline in the growth rate of the emerging industry, which further strengthen the market for China’s economy will slow down concerns, therefore, the Chinese government may take more stimulus measures.

Traders said the world’s largest tire manufacturer Bridgestone tire company in Japan (BridgestoneCorp) and some trading companies have been snapping up low-priced Indonesia to sell stock rubber.

Asian city early Thursday, the dollar remained steady against the yen at near six-year highs hit last week at 108.25 yen.

The Nikkei 225 index rose 0.9 percent on Thursday, as the previous day FED meeting minutes push stocks rose.

U.S. Brent crude oil futures prices on Wednesday hit a low of 27 months since the subsequently closed at $ 91 / barrel above crude oil inventories rose less than expected and the global economic outlook.

As Beijing October 9 10:00 min, Tokyo Rubber reported 180.8 yen / kg, down 0.17 percent.

Translated by Google Translator from http://news.cria.org.cn/4/23745.html

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