09252016Sun
Last update: Sun, 25 Sep 2016 01pm

Asia

Markets - Commodities - Asia

Bangladesh tea prices rise for 5th straight week  DHAKA: Tea prices in Bangladesh rose for a fifth straight week at the weekly auction on Tuesday, on strong demand for quality leaf despite higher volumes on offer.Bangladesh tea fetched an average of 230.07 taka ($2.80) per kg at the auction, the 18th of the new marketing season, compared with 229.48 taka in the previous sale.There was robust demand for quality tea and buyers were ready to pay premiums which aided the rise in prices, National Brokers Ltd said in a market report.Sales volume also rose compared with last week despite higher quality leaf on offer, the report said.More than 2.22 million kg were offered at the sole auction centre in Chittagong, of which about 4.7 percent went unsold.In the previous auction, about 6 percent of the 2.28 million kg on offer, the highest level of the season, went unsold.Bangladesh has moved from being a net exporter to a net ...

Markets - Commodities - Asia

TOCOM ends 2.6pc higher as yen weakens vs dollar TOKYO: Benchmark Tokyo rubber futures closed up on Monday as the yen hit a more than 2-week low against the dollar, falling in line with other Asian currencies after Federal Reserve Chair Janet Yellen's upbeat comments on the U.S. economy lifted the dollar.The Federal Reserve is getting closer to raising interest rates again, the head of the U.S. central bank and other policymakers said on Friday, in comments that left the door open for a ...

Markets - Commodities - Asia

Palm edges up on weaker ringgit; lower crude caps gains KUALA LUMPUR: Malaysian palm oil futures rose slightly in early trade on Monday, supported by a weaker ringgit, but rises are seen capped by lower crude oil prices.A weaker ringgit, the trade currency for palm oil, usually lends support to prices of the tropical oil as it makes it cheaper for foreign currency holders.The ringgit weakened 0.5 percent against the dollar around noon to reach 4.0345.Benchmark palm oil futures for November on the Bursa Malaysia ...

Markets - Commodities - Asia

NY sugar neutral in 20.35-20.76 cents range SINGAPORE: New York Oct. sugar looks neutral in a range of 20.35-20.76 cents per lb, and an escape could point a direction.These supports are identified as the 23.6 percent and the 7 percent Fibonacci projection levels, respectively, of a downward wave C, as the third wave of a presumed three-wave cycle from the June 30 high of 21.22 cents.A break below 20.35 cents could see a drop to 19.98 cents, while a break above 20.76 ...

Markets - Commodities - Asia

NY coffee remains neutral in $1.4250-$1.4540 range SINGAPORE: New York Dec. coffee remains neutral in a range of $1.4250-$1.4540 per lb, and an escape could point a direction.The range is formed by the 23.6 percent and the 38.2 percent Fibonacci retracements of the downtrend from the July 15 high of $1.5765 to the Aug. 17 low of $1.3785.A break above $1.4540 could lead to a gain to $1.4775, a key resistance provided by the 50 percent retracement, while a break below $1.4250 ...

Markets - Commodities - Asia

TOCOM snaps 4-day losing streak on short-covering TOKYO: Benchmark Tokyo rubber futures climbed on Friday, snapping a 4-day losing streak and recovering from a 1-1/2-month low as investors unwound short positions ahead of the weekend, but the contract marked its second weekly loss amid lacklustre trade.The Tokyo Commodity Exchange (TOCOM) new rubber contract for February delivery JRUc6, ended at 150.6 yen ($1.50) per kg, up 1.1 yen, or 0.7 percent, from its opening price of 149.5 yen.For the week, the benchmark, which ...

Markets - Commodities - Asia

Vietnam's Aug coffee exports soar 51pc y/y to 140,000 T HANOI: Vietnam, the world's top robusta producer, will export an estimated 140,000 tonnes (2.33 million 60-kg bags) of coffee in August, up 51.2 percent from the same month last year, the government said on Friday, more than the market expected.The August shipments will bring coffee exports so far in the 2015/2016 crop year - which ends next month - to 1.6 million tonnes, up 33.3 percent from the same period in the previous season, the ...