06262016Sun
Last update: Sun, 26 Jun 2016 10pm

Asia

Markets - Commodities - Asia

Asia Gold-Price rally curbs demand, but Brexit may spur safe-haven buys MUMBAI/BENGALURU: Gold demand in Asia was tepid this week as prices surged to a more than two-year high, but purchases are expected to pick up as Britain's vote to exit the European Union burnishes the metal's safe-haven appeal. Bullion, often perceived as a hedge against economic and financial uncertainty, jumped 8 percent on Friday to its highest since March 2014, as Britons shocked markets by voting to leave the European Union, unleashing turmoil across world financial markets. "Physical markets have been quiet generally this week because people were not sure what was going to happen (with "Brexit")," said Brian Lan, managing director at Singapore-based gold dealer GoldSilver Central.But there are some clients who still hold a longer-term view on gold and think it is the right time to accumulate before prices climb higher, he added. Physical demand in top consumer China weakened further this week with a domestic discount of ...

Markets - Commodities - Asia

Indian soybean futures drop on monsoon progress NEW DELHI: Indian soybean futures dropped on Thursday on hopes of higher output as monsoon rains covered almost the entire country, narrowing the deficit since the season started on June 8. The July soybean contract on the National Commodity & Derivatives Exchange ended down 0.94 percent at 3,812 rupees ($56.65) per 100 kg. Monsoon rains have remained 18 percent lower than average since June 8, but have made steady progress and helped quicken the planting ...

Markets - Commodities - Asia

Thailand's rice exports jump 11pc in the first half of 2016 BANGKOK: Thailand has exported about 4.71 million tonnes of rice worth 74.9 billion baht ($2.1 billion) since January, an 11.42 percent increase from the same period last year, the commerce minister said on Thursday.The government expects exports of Asia's staple food to rise in the second half of the year on strong demand from the Philippines and Indonesia, said Commerce Minister Apiradi Tantraporn. Thailand should easily meet its annual export target of 9.5 million tonnes, ...

Markets - Commodities - Asia

Palm draws late buying ahead of possible ringgit spike after British vote KUALA LUMPUR: Malaysian palm oil futures steadied in late trade on Thursday, recovering earlier losses as some traders bought palm before a possible spike in the ringgit if Britain votes to stay in the European Union.The ringgit and other emerging market currencies have been hit by recent volatility in global financial markets on nervousness about the economic impact if Britain votes to leave the EU in a referendum on Thursday.Final opinion polls were mostly too ...

Markets - Commodities - Asia

Asia Coffee-Indonesia harvest quickens; Asian 2016/17 output seen down HANOI: Coffee premiums in Indonesia were largely unchanged this week despite strong demand and the harvest picking up pace, while Vietnamese premiums eased slightly, traders said.However, prices in the world's third-largest robusta producer after Vietnam and Brazil are still unlikely to influence global rates as most of the Indonesian produce is sold locally, they added.Global production in 2016/2017 is forecast to rise 1.6 percent from this season to 155.7 million bags on higher arabica output, ...

Markets - Commodities - Asia

TOCOM ends flat after hitting two-week high; traders await UK vote TOKYO: Benchmark Tokyo rubber futures ended flat on Thursday, retreating from a two-week high hit earlier in the session on a weaker yen, as investors cautiously awaited the United Kingdom's vote on whether to stay in the European Union.Britons are voting on Thursday to decide the future of their country and Europe in a referendum on EU membership that has divided the nation and is being nervously watched by financial markets and politicians across the ...

Markets - Commodities - Asia

NY coffee signals mixed  SINGAPORE: Signals are mixed for New York September coffee, as it retraced to a lower trendline of a triangle.The pattern developed from the June 9 high of $1.4685 and is contracting to an end. Theoretically, it could turn out to be a bullish continuation pattern, to be followed by an uptrend.However, a drop below $1.3830 could confirm this pattern to be bearish, which suggests a target at $1.34. A more realistic target could be $1.3650.Resistance ...