09272016Tue
Last update: Tue, 27 Sep 2016 05pm

Asia

Markets - Commodities - Asia

TOCOM hits 4-month high on technical buying TOKYO: Benchmark Tokyo rubber futures climbed to a four-month high on Wednesday on technical buying, after a sharp rally the previous day, but shed some gains as investors booked profits ahead of a national holiday in Japan.The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery finished up 3.3 yen, or 2.0 percent, at 168.4 yen ($1.65) per kg, after touching the highest since May 18 of 169.4 yen earlier in the session."There was no fresh fundamental news to support the rally, but buying gathered momentum after the benchmark broke through a technical ceiling of 165 yen," said Toshitaka Tazawa, analyst at Fujitomi Co.The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, have been stuck in a tight range of 145-165 yen since late May.The recent rise in commodity prices in China also helped boost risk appetite, a Tokyo-based dealer said."Now, it looks like TOCOM ...

Markets - Commodities - Asia

Soybeans ease from 1-month top; corn, wheat fall SINGAPORE: Chicago soybeans fell for the first time in five sessions on Wednesday, with the market taking a breather after climbing to a one-month high in the last session on concerns over rains delaying the US harvest.Corn gave up 0.4 percent after a 1-percent gain on Tuesday, while wheat eased to snap three sessions of gains.The Chicago Board of Trade most-active soybean contract had declined 0.3 percent to $9.86-1/2 a bushel by 0321 GMT, having ...

Markets - Commodities - Asia

Shanghai copper's target at 37,780 yuan unchanged SINGAPORE: A bullish target at 37,780 yuan per tonne remains unchanged for Shanghai copper, as suggested by a Fibonacci retracement analysis.The analysis is on the uptrend from the Nov. 24, 2015 low of 33,150 yuan to the July 13 high of 39,210 yuan. It reveals the downtrend from 39,210 yuan stopped around a support at 36,180 yuan, the 50 percent level.The 38.2 percent level at 36,900 yuan worked as an effective resistance. The next resistance ...

Markets - Commodities - Asia

China sugar imports climb over 30 percent in August BEIJING: China, the world's top sugar buyer, imported 360,000 tonnes of the sweetener in August, up 30.7 percent from the same period last year due to lower global prices when cargoes were purchased earlier in 2016.Chinese sugar imports have slowed overall this year on higher global prices, but a price-dip during the second quarter has boosted arrivals into the country in recent months.Prices have since recovered, however, meaning that shipments to China are expected to ...

Markets - Commodities - Asia

Bangladesh tea prices edge up on strong demand  DHAKA: Tea prices in Bangladesh edged up at the post-Eid holiday auction on Tuesday on strong demand for all varieties despite this season's highest volume on offer.Bangladesh tea fetched an average of 231.69 taka ($2.80) per kg at the weekly auction, the 20th of the current marketing season, compared with 231.11 taka in the previous sale.The auction also saw the largest offering of the season so far and this sale took place after the Eid ...

Markets - Commodities - Asia

Palm oil rises for fourth day on expectations of lower output KUALA LUMPUR: Malaysian palm oil futures rose to a five-month high on Wednesday morning, lifted by forecasts for lower output and stronger performing oils on China's Dalian Commodity Exchange.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange gained 0.6 percent to 2,708 ringgit ($653) a tonne at noon. It earlier climbed to an intraday high of 2,728 ringgit, its strongest levels since April 21.Palm is in line to gain for a fourth ...

Markets - Commodities - Asia

Gold edges up as equities slip ahead of US Fed meeting BENGALURU: Gold rose for a second straight session on Tuesday as equities wavered ahead of a two-day US Federal Reserve meeting in which interest rates are mostly expected to remain unchanged.Spot gold was up 0.2 percent at $1,315.77 an ounce by 0638 GMT, and US gold futures rose 0.1 percent at $1,319.1 an ounce.Asian shares edged lower on Tuesday as investors nervously awaited the outcomes of both the US central bank and Bank of Japan ...