TOKYO, Aug 23 (Reuters) – Benchmark TOCOM rubber futures rose on Friday after the outlook for the global economy brightened following overnight overseas data that showed a pick-up in business activity for several regions.
FUNDAMENTALS
* The key Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery was up 0.8 percent at 268.0 yen per kg at 0033 GMT, after settling 2.8 percent higher on Thursday.
* Business surveys suggested the world economy was improving on Thursday, with U.S. and Chinese manufacturing activity at multi-month highs and better-than-expected growth in the euro zone.
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* Indian monsoon rains were 51 percent below average in the rubber growing state of Kerala in the week to August 21, data showed lated on Thursday.
* U.S. auto sales in August are on pace to show a 12 percent rise from last year, market analysts J.D. Power & Associates and LMC Automotive said late on Thursday.
TOCOM Rubber Futures Price on Friday, August 23, 2013 (yen/kilogram)
|
Month |
Last Settlement Price |
Open |
High |
Low |
Current |
Change |
Volume |
|
Aug 2013 |
255.3 |
255.7 |
258.8 |
255.2 |
257.6 |
+2.3 |
45 |
|
Sep 2013 |
257.6 |
259.6 |
262.1 |
259.4 |
262.1 |
+4.5 |
19 |
|
Oct 2013 |
259.1 |
261.0 |
263.6 |
260.0 |
263.6 |
+4.5 |
32 |
|
Nov 2013 |
260.8 |
261.2 |
265.5 |
261.2 |
264.9 |
+4.1 |
180 |
|
Dec 2013 |
263.1 |
263.7 |
267.9 |
263.5 |
267.4 |
+4.3 |
360 |
|
Jan 2014 |
266.0 |
266.2 |
270.8 |
265.8 |
269.3 |
+3.3 |
4,469 |
|
Total |
|
5,105 |
|||||
MARKET NEWS
* Japan’s benchmark Nikkei stock average rose 2 percent in early Thursday trade, following overnight gains on Wall Street and as encouraging economic data from Japan’s major trading partners benefited stocks of exporters.
* The U.S. dollar was quoted around 98.94 yen in early Asian trade, holding overnight gains above an Aug. 15 peak of 98.66 yen.
* The 19-commodity Thomson Reuters-Jefferies CRB index settled flat on Thursday as gains in natural gas and the index’s main component, crude oil, were balanced by declines in other commodities.
DATA EVENTS
* The following data is expected on Friday: (Time in GMT)
0200 China Foreign direct investment
0600 Germany Q2 GDP detailed
1400 Euro zone Consumer confidence
1400 U.S. New home sales
(Reporting by James Topham; Editing by Richard Pullin)
Source: Reuters
