TOKYO, July 24 (Reuters) – Benchmark Tokyo rubber futures extended gains into a seventh session on Thursday as the yen weakened, but worries over a slowdown in the economy of top consumer China capped gains.
FUNDAMENTALS
* The Tokyo Commodity Exchange (TOCOM) rubber contract for December delivery was up 0.16 percent at 257.5 yen per kg at 0050 GMT. It finished at 257.1 yen per kg on Wednesday, its highest closing level since early June.
* China’s manufacturing engine lost further momentum in July and the job market weakened, a survey showed on Wednesday.
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TOCOM Rubber Futures Price on Thursday, July 25, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Jul 2013 |
251.0 |
251.0 |
254.0 |
251.0 |
254.0 |
+3.0 |
313 |
|
Aug 2013 |
253.5 |
255.0 |
256.5 |
251.2 |
251.2 |
-2.3 |
24 |
|
Sep 2013 |
254.3 |
255.6 |
257.5 |
251.6 |
251.6 |
-2.7 |
31 |
|
Oct 2013 |
254.8 |
256.1 |
258.0 |
252.2 |
252.2 |
-2.6 |
134 |
|
Nov 2013 |
255.4 |
257.8 |
259.0 |
253.4 |
253.4 |
-2.0 |
372 |
|
Dec 2013 |
257.1 |
258.9 |
261.4 |
254.2 |
255.7 |
-1.4 |
3,959 |
|
Total |
|
4,833 |
|||||
MARKET NEWS
* The Nikkei share average opened slightly higher on Thursday after the yen resumed its downward slide against the dollar, but investors are likely to remain cautious as they wait for the earnings season to confirm that Corporate Japan is in good health.
* Crude prices slumped on Wednesday after the weak data from China renewed concerns about demand growth in the No. 2 oil consumer, and gold fell too as the dollar rose and funds exited from bullion amid continued U.S. and European recoveries.
DATA EVENTS
* The following data is expected on Thursday: (Time in GMT)
0800 Germany Ifo business climate
0800 Italy Consumer confidence
0800 Euro zone M3 money supply
1230 U.S.
Durable goods orders
1230 U.S.
Weekly jobless claims (Reporting by Yuka Obayashi; Editing by Joseph Radford)
Source: Reuters
