01192017Thu
Last update: Thu, 19 Jan 2017 05am

Asia

Markets - Commodities - Asia

TOCOM surges to near 3-year high as speculators step up buying TOKYO: Benchmark Tokyo rubber futures extended gains into a fourth session on Wednesday, hitting a near three-year high, as speculators stepped up buying after a surge in Shanghai futures."Both Shanghai and Tokyo markets have been buoyed by massive speculative buying," said Jiong Gu, analyst, Yutaka Shoji Co.The Tokyo Commodity Exchange rubber contract for May delivery closed up 12.6 yen, or 4.9 percent, at 272.3 yen ($2.37) per kg. Earlier in the session, it hit the highest since Dec. 30, 2013 of 273.6 yen.The most-active rubber contract on the Shanghai futures exchange for May delivery jumped 700 yuan to finish at 20,310 yuan ($2,943.78) per tonne. Early in the day, it touched a high of 20,580 yuan, the highest since Jan. 24, 2014."Lower local inventories lent a support to the TOCOM, but the recent rally has been more to do with speculative buying than any fresh fundamental factors," Gu said.Crude rubber ...

Markets - Commodities - Asia

Gold prices firm as dollar dips ahead of Fed rate decision BENGALURU: Gold prices edged higher on Wednesday on a weaker dollar and as markets waited for the outcome of the US Federal Reserve's policy meeting later in the day.Spot gold was up 0.2 percent at $1,160.50 an ounce by 0323 GMT. The metal, which fell nearly 0.4 percent in the previous session, remained above a 10-month low of $1,151.34 an ounce touched on Monday.US gold futures were 0.3-percent higher at $1,162.40 per ounce.The dollar index, ...

Markets - Commodities - Asia

Wheat eases after 4-day gain, soybeans fall for 3rd day SINGAPORE: Chicago wheat futures lost ground on Wednesday, with the market taking a breather after four sessions of gains driven by short-covering and improved demand for US cargoes.Soybeans slid for a third consecutive session as forecasts of rains in Argentina's key producing regions weighed on the market, while corn was steady after climbing to a five-month high on Tuesday.The most-active wheat contract on the Chicago Board of Trade had fallen 0.4 percent to $4.16 a ...

Markets - Commodities - Asia

Palm sees gains on weaker ringgit, forecast bullish data KUALA LUMPUR: Malaysian palm oil futures rose in early trade on Wednesday and looked set for a second consecutive session of gains after closely watched output and export data released during the midday break was in line with bullish expectations.The market was also supported by a weaker ringgit, the tropical oil's traded currency, as this makes it cheaper for foreign buyers. The ringgit fell 0.2 percent against the dollar around noon.Benchmark palm oil futures for ...

Markets - Commodities - Asia

India's soymeal exports to hit 3-year high as soybean output jumps MUMBAI: India's soymeal exports in 2016/17 are likely to jump to three-year highs as a sharp price correction due to a rebound in soybean production makes overseas sales competitive, said industry officials.Higher exports from India could trim shipments of South American soymeal into Asia, and also shore up local soybean prices, which fell below a government-fixed support level in physical markets recently.India's soymeal exports could jump to more than 2 million tonnes in the 2016/17 ...

Markets - Commodities - Asia

Palm strengthens on lower output after hitting two-week low KUALA LUMPUR: Malaysian palm oil futures ended three losing sessions to gain in late trade on declining output.They fell to their lowest in two weeks earlier in the day on slow export demand and as they tracked weaker-performing rival oils.Benchmark palm oil futures for February delivery on the Bursa Malaysia Derivatives Exchange rose 0.9 percent to 3,098 ringgit ($699) a tonne at the end of the trading day. Earlier in the session, they hit a ...

Markets - Commodities - Asia

TOCOM climbs to near 3-year high on robust Shanghai TOKYO: Benchmark Tokyo rubber futures extended gains into a third straight session on Tuesday, hitting a near three-year high, as stronger Shanghai futures and a weaker yen against the dollar prompted buying."Tokyo's rally was driven by a surge in Shanghai futures," said Satoru Yoshida, commodity analyst, Rakuten Securities.The Tokyo Commodity Exchange (TOCOM) rubber contract for May delivery finished up 3.7 yen, or 1.4 percent, at 259.7 yen ($2.25) per kg. Earlier in the session, it ...