AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,941 Increased By 63.6 (0.92%)
BR30 22,802 Increased By 233 (1.03%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

SINGAPORE: Japanese rubber futures slipped on Wednesday, tracking weakness in Shanghai futures and lower raw material prices in top producer Thailand. However, losses were capped as a softer yen made yen-denominated assets more affordable when purchased in other currencies.

The Osaka Exchange rubber contract for November delivery finished down 0.7 yen, or 0.3%, at 254.0 yen ($1.86) per kg. Shanghai rubber futures were down mainly due to uncertainty about China’s COVID-19 situation and lower-than-expected natural rubber demand in the country, said a Singapore-based trader.

“SHFE is likely to rise soon as long as there is no major lockdown in China, as production and car sales are going up. For now, we believe the worst is almost over for SHFE,” he added. The dollar traded at 136.22 yen against 135.04 yen on Tuesday afternoon in Asia.

Thai latex prices hit their lowest level since Jan. 27 at 43.85 baht ($1.24) per kg on Wednesday. The rubber contract on the Shanghai futures exchange for September delivery was down 175 yuan at 12,500 yuan ($1,858.71) per tonne, after hitting the lowest since May 10 of 12,455 yuan.

The Universal Beijing Resort said it would reopen on June 25 after being closed for nearly two months, as the number of new COVID-19 cases in the Chinese capital falls. The front-month rubber contract on Singapore Exchange’s SICOM platform for July delivery last traded at 157.9 US cents per kg, down 1.5 percent.

Comments

Comments are closed.