SINGAPORE, May 23 (Reuters) –
- Japanese rubber futures extended gains for a second session on Thursday amid a weaker yen, while favourable domestic factory data and stronger equities boosted investor sentiment.
- The Osaka Exchange (OSE) rubber contract for October delivery JRUc6, 0#2JRU: closed up 1.7yen, or 0.52%, at 327.9 yen ($2.09) per kg to hit a three-session high.
- The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery SNRv1 rose 55yuan to finishat 14,865 yuan ($2,051.93) per metric ton.
- The yen JPY= languished just above a three-week low despite the continued threat of intervention by Japanese officials. A weaker currency makes yen-denominated assets more affordable to overseas buyers. FRX/
- Japan’s benchmark Nikkei average .N225 closed 1.26% higher. .T
- Japan’s factory activity crept into expansion for the first time in a year in May, a business survey showed, as manufacturing gathered pace after months of weakness.
- Oil prices eased for a fourth straight session on Thursday after the minutes of a U.S. Federal Reserve meeting revealed discussions of a further tightening of interest rates if inflation remained sticky, a move that could hurt oil demand. O/R
- Some of the steep U.S. tariff increases on an array of Chinese imports, including electric vehicles and their batteries, computer chips and medical products, will take effect on Aug. 1, the U.S. Trade Representative’s office said.
- China should raise its import tariffs on large gasoline-powered cars to 25%, a government-affiliated auto research body expert told China’s Global Times newspaper.
- Car production in Thailand, Southeast Asia’s biggest auto production centre, fell 11.02% in April year-on-year, the Federation of Thai Industries said.
- The front-month rubber contract on the SingaporeExchange’s SICOM platform for June delivery STFc1 last traded at 171.3 U.S. cents per kg, up 0.8%.
($1 = 156.6400 yen)
($1 = 7.2444 yuan)
Source:
Reuters
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