05072016Sat
Last update: Sat, 07 May 2016 01am

Asia

Markets - Commodities - Asia

Shanghai copper neutral in 37,510-38,100 yuan range SINGAPORE: Shanghai copper looks neutral in a range of 37,510-38,100 yuan per tonne, and an escape could point a direction.The range is formed by the 61.8 percent and the 38.2 percent Fibonacci retracements on the rise from 36,570 yuan, an hourly chart low touched on April 18 and the April 25 high of 39,040 yuan.A break above 38,100 yuan could lead to a gain to the 23.6 percent level at 38,460 yuan. However, the bias seems to be towards the downside, as the metal could be riding on a wave C, the third wave of a three-wave cycle from the March 7 high of 39,400 yuan. This wave may approach 35,600 yuan, the bottom of the preceding wave ACopyright Reuters, 2016 ...

Markets - Commodities - Asia

Palm oil still targets 2,697 ringgit SINGAPORE: Palm oil still targets 2,697 ringgit per tonne, as it has stabilised in a support zone of 2,644-2,668 ringgit. The zone is formed by the 7 percent and the 14.6 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the March 3 low of 2,470 ringgit.A trendline rising from the March 3 low of 2,470 ringgit also provides a support around 2,650 ringgit. These three supports ...

Markets - Commodities - Asia

Corn rises for 2nd day as rain seen delaying US planting SINGAPORE/PARIS: Chicago corn futures rose for a second session on Tuesday as prices remained underpinned by forecasts of rains which could delay the rapid pace of planting in the US Midwest.Soybeans gained more ground as funds continued to buy agricultural commodities on worries over South American supply.Chicago Board Of Trade most-active corn contract rose 0.5 percent to $3.83-3/4 a bushel by 1255 GMT, adding to a 1.7 percent gain in the previous session.Wheat was up ...

Markets - Commodities - Asia

Vietnam coffee sales may slow ahead; April shipments jump HANOI: Vietnam's coffee exports may slow after rising in April as traders hold back to assess the impact of the current drought on the crop and exporters curb sales in anticipation of further price gains, traders said on Tuesday.The ICE robusta July contract surged to an intraday high of $1,602 a tonne on April 21, the highest since Dec. 10, 2015, after a Vietnamese industry official forecast the country's 2016 exports will fall to 1 ...

Markets - Commodities - Asia

TOCOM ends up after hitting near nine-month high TOKYO: Benchmark Tokyo rubber futures ended up on Tuesday after hitting a near nine-month high, supported by recovery in oil prices, but the gains were limited due to a slightly stronger yen against the dollar.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, has been gaining momentum recently amid hopes for improved demand from top consumer China.Farmers in the Central Highlands coffee belt have been hit by the ...

Markets - Commodities - Asia

China's gold imports from Hong Kong rise to 3-month high SINGAPORE: China's net gold imports via main conduit Hong Kong climbed to a three-month high in March on restocking after the new year holiday, but market sources said consumer demand remained soft.Gold is a popular gift during the Lunar New Year holiday, which was observed in early February this year. China's imports hit a 17-month low in January, but recovered the following month.The top consumer's net gold imports climbed to 71.8 tonnes last month from ...

Markets - Commodities - Asia

Palm oil up on weaker ringgit, short covering lifted sentiment KUALA LUMPUR: Malaysian palm oil futures rose on Tuesday, up from a one-week low touched in the previous session, supported by a decline in the ringgit against the dollar.A weaker ringgit lent support to palm but earlier gains were limited due to higher production and slowing exports, said a trader based in Kuala Lumpur.The market later strengthened in the evening as some traders covered short positions despite expectations that sluggish demand would eventually weigh on ...