02072016Sun
Last update: Sun, 07 Feb 2016 10pm

Asia

Markets - Commodities - Asia

Tokyo futures end near 3-month low on weak China data TOKYO: Benchmark Tokyo rubber futures fell for a third straight session and ended near a three-month low on Monday as weak Chinese data hit investor sentiment, dealers said.The Tokyo Commodity Exchange rubber contract for February delivery was down 1.9 yen, or 1 percent, to settle at 196.4 yen ($1.8861 dollar) per kg, the lowest close since June 10. It fell as low as 195.2 yen, the lowest intraday level since Aug. 18, earlier in the session."Weak China PMI data and a slide at the Shanghai market pushed Tokyo rubber prices down," said Jiong Gu, an analyst with Yutaka Shoji Co.Growth in the vast factory sector in China, the world's biggest rubber consumer, cooled in August as foreign and domestic demand slowed, two surveys showed on Monday, spurring new calls for more policy easing to prevent the economy from stumbling once more.A purchasing managers' index (PMI) published by the National Bureau ...

Markets - Commodities - Asia

Spot gold may revisit high of $1,391.76 in four weeks SINGAPORE: Spot gold may revisit its March 17 high of $1,391.76 per ounce over the next four weeks, as indicated by a Fibonacci retracement analysis and its wave pattern.Gold failed twice to break support at $1,200, the 38.2 percent Fibonacci retracement on the rise from the 1970 low of $34.95 to the record high of $1,920.30.Such a failure suggests the support is very strong and may have triggered a bounce towards the 23.6 percent level ...

Markets - Commodities - Asia

Spot gold to revisit low of $1,273.06 SINGAPORE: Spot gold is expected to test support at $1,280 per ounce, with a good chance of breaking below this level and falling more to the Aug. 21 low of $1,273.06.The rebound from this low has completed, as it could be divided into five small waves.A Fibonacci retracement analysis on the fall to this low from the Aug. 8 high of $1,322.60 reveals support at $1,280, the 14.6 percent level, which may be easily broken, ...

Markets - Commodities - Asia

LME copper to rebound further to $7,016 SINGAPORE: LME copper may gain more to $7,016 per tonne, as it has cleared a resistance at $6,959. The resistance was at the 38.2 percent Fibonacci projection level of a downward wave C that developed from the Aug. 26 high of $7,108.75. The next resistance will be at $7,016, the 23.6 percent projection level. An extension of the rebound above $7,016 could be less likely, as the wave C seems to be only partially completed. ...

Markets - Commodities - Asia

LME aluminium due for a good correction SINGAPORE: LME aluminium is due for a good correction as a five-wave cycle from the May 21 low of $1,754.75 may peak around a resistance at $2,129. The resistance is at the 161.8 percent Fibonacci projection level of an upward wave C that developed from $1,754.75. Aluminium has approached this level but failed to touch it. The failure indicates the cycle may have completed or is ending. A break below the support at $2,074, the ...

Markets - Commodities - Asia

Indonesia's Aug Sumatra coffee bean exports fall 32pc y/y BANDAR LAMPUNG: Robusta coffee bean exports from Indonesia's main growing area in Sumatra fell 32 percent to 21,986.28 tonnes in August from a year earlier, government trade data showed on Monday.Indonesia shipped 32,263.33 tonnes of robusta in the same month a year earlier and 14,181 tonnes in July. Copyright Reuters, 2014 ...

Markets - Commodities - Asia

Shanghai copper may end rebound around 50,250 yuan SINGAPORE: Shanghai copper may end its rebound from the Aug. 29 low of 49,480 yuan per tonne around a resistance at 50,250 yuan, as indicated by its wave pattern and Fibonacci projection analysis.The rebound was triggered by a support at 49,470 yuan, the 50 percent projection level. However, this wave has only partially completed, as it is capable of travelling to 47,990 yuan, the 100 percent level.The resistance at 50,250 yuan, the 23.6 percent level, ...