02142016Sun
Last update: Sun, 14 Feb 2016 12am

Asia

Markets - Commodities - Asia

TOCOM tanks nearly 4pc on weaker equity, crude oil prices TOKYO: New benchmark Tokyo rubber futures tanked nearly 4 percent on Tuesday, hit by a flurry of sells after Shanghai and Tokyo stock markets plunged while crude oil prices took a renewed slide, driving investors to safety and boosting the safe-haven yen.The Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery finished at 158.3 yen ($1.34), down 6.2 yen, or 3.8 percent, from an opening price of 164.5 yen.The TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, touched a four-week high in the previous session as risk aversion eased after a sharp rise in oil prices last Friday, but the market turned sour again as financial markets across Asia took another beating."Stock prices tumbled, oil prices were battered and the yen rose against the U.S. dollar, all of which added to pressure," said Toshitaka Tazawa, an analyst with Fujitomi Co.U.S. crude futures dropped back below ...

Markets - Commodities - Asia

Palm oil extends gains on output worries, short covering KUALA LUMPUR: Malaysian palm oil futures rose for a second session and hit a one-week high on Tuesday, buoyed by expectations of lower output and as traders covered their short positions ahead of the Lunar New Year holidays, but gains were restricted as crude oil prices resumed their descent.Benchmark palm oil prices have been under pressure and hit a one-week low earlier this month in the absence of an expected pick up in demand from ...

Markets - Commodities - Asia

China Dec distillers' grains imports down 9.7pc vs Nov-customs BEIJING: China imported 419,896 tonnes of distillers' dried grains in December, down 9.7 percent from 464,949 tonnes in November, official customs data showed on Tuesday.The December imports brought China's total in 2015 to a record 6.82 million tonnes, up 26 percent from last year, data from the General Administration of Customs showed.China is the world' top buyer of the grain, a by-product of corn-based ethanol, which is used as a feed ingredient. The United States ...

Markets - Commodities - Asia

Gold jumps to near 3-month top as stocks, oil tumble MANILA: Gold rallied to its highest since November on Tuesday, with investors shifting to safe-haven assets as worries over a slowing global economy hit stocks and crude oil again.The Federal Reserve is expected to take notice of the macroeconomic headwinds from China to Europe when policymakers meet later in the day, boosting hopes that it may go easy in hiking U.S. interest rates further.That bodes well for gold, which has risen nearly 5 percent so ...

Markets - Commodities - Asia

Dalian iron ore futures edge up, but caution persists SHANGHAI: Chinese iron ore futures inched higher on Tuesday, but the rebound was likely to be curbed by expectations that demand in the world's top consumer would slow amid a supply glut.China's government will cut crude steel capacity in the world's biggest producer by 100-150 million tonnes, reinforcing concerns over demand for iron ore, which has also been hit by rising supplies from Australia and Brazil."Iron ore remains in a weak position due to large ...

Markets - Commodities - Asia

China's coal imports from Australia fall 25pc in 2015 BEIJING: China imported 70.86 million tonnes of coal from its top supplier Australia in 2015, down one quarter compared to 2014, customs data showed on Tuesday, with demand in the world's biggest energy consuming country declining rapidly.Overall imports, excluding lower-grade lignite, declined 31.5 percent to 155.81 million tonnes during the year, figures from China's General Administration of Customs showed.Australian coal suppliers have normally benefited from lower production costs, which enabled them to outcompete domestic Chinese ...

Markets - Commodities - Asia

Copper surrenders gains on oil slide, China worries MANILA: Copper steadied on Tuesday, surrendering early gains that were spurred by a softer dollar, with a fresh tumble in oil prices underlining worries over a slackening global economy.Oil's slide back below $30 a barrel fueled another selloff in Asian stocks, with Chinese stocks slumping more than 6 percent. Three-month copper on the London Metal Exchange was little changed at $4,413.50 a tonne by 0723 GMT, well off a session high of $4,450.Copper climbed to ...