AGL 22.90 Decreased By ▼ -1.83 (-7.4%)
AIRLINK 103.99 Decreased By ▼ -7.11 (-6.4%)
BOP 5.36 Decreased By ▼ -0.18 (-3.25%)
CNERGY 3.86 Decreased By ▼ -0.04 (-1.03%)
DCL 8.02 Decreased By ▼ -0.43 (-5.09%)
DFML 39.10 Decreased By ▼ -3.15 (-7.46%)
DGKC 86.95 Decreased By ▼ -2.65 (-2.96%)
FCCL 22.70 Decreased By ▼ -0.20 (-0.87%)
FFBL 40.59 Decreased By ▼ -1.39 (-3.31%)
FFL 8.89 Decreased By ▼ -0.15 (-1.66%)
HUBC 153.50 Decreased By ▼ -8.70 (-5.36%)
HUMNL 10.65 Decreased By ▼ -0.70 (-6.17%)
KEL 4.55 Decreased By ▼ -0.23 (-4.81%)
KOSM 3.90 Decreased By ▼ -0.16 (-3.94%)
MLCF 37.50 Decreased By ▼ -1.45 (-3.72%)
NBP 49.00 Decreased By ▼ -1.60 (-3.16%)
OGDC 134.15 Decreased By ▼ -2.96 (-2.16%)
PAEL 26.15 Decreased By ▼ -2.40 (-8.41%)
PIBTL 6.07 Decreased By ▼ -0.18 (-2.88%)
PPL 116.79 Decreased By ▼ -6.01 (-4.89%)
PRL 23.55 Decreased By ▼ -0.75 (-3.09%)
PTC 12.90 Decreased By ▼ -0.84 (-6.11%)
SEARL 57.25 Decreased By ▼ -2.80 (-4.66%)
TELE 7.45 Decreased By ▼ -0.31 (-3.99%)
TOMCL 35.74 Decreased By ▼ -3.66 (-9.29%)
TPLP 8.50 Decreased By ▼ -0.26 (-2.97%)
TREET 15.68 Decreased By ▼ -0.52 (-3.21%)
TRG 56.40 Decreased By ▼ -3.60 (-6%)
UNITY 33.40 Decreased By ▼ -1.00 (-2.91%)
WTL 1.18 Decreased By ▼ -0.04 (-3.28%)
BR100 8,433 Decreased By -274.3 (-3.15%)
BR30 26,639 Decreased By -1159 (-4.17%)
KSE100 80,118 Decreased By -1722 (-2.1%)
KSE30 25,681 Decreased By -584.1 (-2.22%)

SINGAPORE: Japanese rubber futures edged up in volatile trade on Thursday on a weaker yen and stronger global equities while the ongoing Ukraine conflict and lower Shanghai prices weighed on sentiment, capping gains.

The Osaka Exchange rubber contract for August delivery ended up 0.5 yen, or 0.2%, at 245.2 yen ($2.06) per kg.

Rebounding equities and a weakening yen supported OSE prices, a Singapore-based trader said, adding that low Shanghai prices capped gains.

“While things in Ukraine may get better as talks progress, the effects of the sanctions still remain intact. Traders’ risk appetite is still quite low since no one knows how long the conflict is going to drag on,” said another Singapore-based trader.

“The market is quite flat as no one is daring to take new positions as there’s just too much uncertainty,” he added.

The dollar traded at 118.73 yen, against 118.19 yen on Wednesday afternoon in Asia. A weaker yen makes yen-denominated assets more affordable when purchased in other currencies.

Japan’s Nikkei posted its highest close of around 3.5% in more than two weeks on Thursday, tracking an overnight rally on Wall Street after the Federal Reserve hiked rates as expected, while hopes for a breakthrough in the Russia-Ukraine conflict lifted sentiment.

The rubber contract on the Shanghai futures exchange for May delivery was down 15 yuan to finish at 13,290 yuan ($2,093.54) per tonne.

China’s public health governance is expected to come under acute pressure in the coming weeks as the biggest wave of COVID-19 cases since the 2020 Wuhan outbreak stretches medical resources, tests the country’s ability to contain infections and strains the economy.

Comments

Comments are closed.