AVN 64.68 Decreased By ▼ -0.32 (-0.49%)
BAFL 31.30 Increased By ▲ 0.15 (0.48%)
BOP 4.83 Increased By ▲ 0.12 (2.55%)
CNERGY 3.90 Increased By ▲ 0.02 (0.52%)
DFML 13.46 Decreased By ▼ -0.24 (-1.75%)
DGKC 41.92 Increased By ▲ 0.65 (1.57%)
EPCL 46.48 Decreased By ▼ -0.21 (-0.45%)
FCCL 11.45 Increased By ▲ 0.03 (0.26%)
FFL 5.07 Increased By ▲ 0.03 (0.6%)
FLYNG 5.81 Decreased By ▼ -0.01 (-0.17%)
GGL 9.91 Decreased By ▼ -0.04 (-0.4%)
HUBC 64.45 Increased By ▲ 0.35 (0.55%)
HUMNL 5.65 No Change ▼ 0.00 (0%)
KAPCO 27.90 Increased By ▲ 0.10 (0.36%)
KEL 2.15 Increased By ▲ 0.02 (0.94%)
LOTCHEM 24.57 Increased By ▲ 0.27 (1.11%)
MLCF 21.85 Increased By ▲ 0.45 (2.1%)
NETSOL 84.16 Decreased By ▼ -0.04 (-0.05%)
OGDC 87.90 Decreased By ▼ -0.04 (-0.05%)
PAEL 10.98 Increased By ▲ 0.08 (0.73%)
PIBTL 4.23 Increased By ▲ 0.05 (1.2%)
PPL 76.90 Decreased By ▼ -0.80 (-1.03%)
PRL 13.67 Increased By ▲ 0.05 (0.37%)
SILK 0.90 Increased By ▲ 0.01 (1.12%)
SNGP 41.60 Decreased By ▼ -0.33 (-0.79%)
TELE 5.95 Increased By ▲ 0.08 (1.36%)
TPLP 15.83 Increased By ▲ 0.05 (0.32%)
TRG 111.70 Decreased By ▼ -0.60 (-0.53%)
UNITY 13.95 No Change ▼ 0.00 (0%)
WTL 1.14 Increased By ▲ 0.01 (0.88%)
BR100 4,053 Increased By 5.7 (0.14%)
BR30 14,490 Increased By 23 (0.16%)
KSE100 40,674 Increased By 0.5 (0%)
KSE30 15,190 Decreased By -0.6 (-0%)
Follow us

SINGAPORE: Japanese rubber futures hit their lowest in nearly 10 months on Thursday, tracking losses in the Shanghai market, as weak domestic and China manufacturing data stoked worries about a slowdown in demand.

The Osaka Exchange rubber contract for February delivery was down 5.5 yen, or 2.4%, at 220.6 yen ($1.58) per kg, as of 0215 GMT. The benchmark contract hit its lowest since mid-November earlier in the day.

The rubber contract on the Shanghai futures exchange for January delivery was down 155 yuan, or 1.2%, at 12,445 yuan ($1,803) per tonne. Japan’s benchmark Nikkei share average opened down 1.05%.

“The markets follow China, still exercising their zero-COVID policy, and which reported a rise in cases and announced fresh lockdown measures,” said Farah Miller, chief executive officer of Helixtap Technologies, an independent rubber-focused data company. This stoked fears of a further hit to demand, she added.

Parts of China’s southern city of Guangzhou imposed COVID-19 curbs on Wednesday, joining the tech hub of Shenzhen in battling flare-ups, fuelling uncertainty over commerce and daily life in two of the region’s most economically vibrant metropolises.

China’s factory activity contracted for the first time in three months in August amid weakening demand, while power shortages and fresh COVID-19 flare-ups disrupted production, a private sector survey showed.

Comments

Comments are closed.

Japanese rubber futures down

Govt team tries to persuade IMF to unlock lending

Intra-day update: rupee falls against US dollar

Fitch says PKR to further weaken

US, India partnership targets arms and AI to compete with China

Peshawar attack: ‘Who brought the terrorists back?’, asks PM Shehbaz

Former CM Parvez Elahi claims his residence raided by police

Eight rockets fired at Turkish base in Iraq

IMF revises Pakistan’s GDP growth projections downward

Paracetamol: govt to allow increase in price

Govt plans to convert Rs800bn PHL debt into public debt