AIRLINK 81.10 Increased By ▲ 2.55 (3.25%)
BOP 4.82 Increased By ▲ 0.05 (1.05%)
CNERGY 4.09 Decreased By ▼ -0.07 (-1.68%)
DFML 37.98 Decreased By ▼ -1.31 (-3.33%)
DGKC 93.00 Decreased By ▼ -2.65 (-2.77%)
FCCL 23.84 Decreased By ▼ -0.32 (-1.32%)
FFBL 32.00 Decreased By ▼ -0.77 (-2.35%)
FFL 9.24 Decreased By ▼ -0.13 (-1.39%)
GGL 10.06 Decreased By ▼ -0.09 (-0.89%)
HASCOL 6.65 Increased By ▲ 0.11 (1.68%)
HBL 113.00 Increased By ▲ 3.50 (3.2%)
HUBC 145.70 Increased By ▲ 0.69 (0.48%)
HUMNL 10.54 Decreased By ▼ -0.19 (-1.77%)
KEL 4.62 Decreased By ▼ -0.11 (-2.33%)
KOSM 4.12 Decreased By ▼ -0.14 (-3.29%)
MLCF 38.25 Decreased By ▼ -1.15 (-2.92%)
OGDC 131.70 Increased By ▲ 2.45 (1.9%)
PAEL 24.89 Decreased By ▼ -0.98 (-3.79%)
PIBTL 6.25 Decreased By ▼ -0.09 (-1.42%)
PPL 120.00 Decreased By ▼ -2.70 (-2.2%)
PRL 23.90 Decreased By ▼ -0.45 (-1.85%)
PTC 12.10 Decreased By ▼ -0.89 (-6.85%)
SEARL 59.95 Decreased By ▼ -1.23 (-2.01%)
SNGP 65.50 Increased By ▲ 0.30 (0.46%)
SSGC 10.15 Increased By ▲ 0.26 (2.63%)
TELE 7.85 Decreased By ▼ -0.01 (-0.13%)
TPLP 9.87 Increased By ▲ 0.02 (0.2%)
TRG 64.45 Decreased By ▼ -0.05 (-0.08%)
UNITY 26.90 Decreased By ▼ -0.09 (-0.33%)
WTL 1.33 Increased By ▲ 0.01 (0.76%)
BR100 8,052 Increased By 75.9 (0.95%)
BR30 25,581 Decreased By -21.4 (-0.08%)
KSE100 76,707 Increased By 498.6 (0.65%)
KSE30 24,698 Increased By 260.2 (1.06%)

TOKYO: Japanese rubber futures edged higher on Wednesday, as investors looked for bargains after the previous session’s losses, though a stronger yen against the US dollar and fears over a global economic slowdown capped the gains.

The Osaka Exchange rubber contract for July delivery was up 0.2 yen, or 0.1%, at 226.7 yen ($1.7) per kg, as of 0255 GMT. It slid 0.8% on Tuesday.

Stronger oil prices also lent support. Oil prices rose on Wednesday, extending gains from the previous two days, on the weaker dollar and as US crude stocks surprisingly fell. The natural rubber market benefits from stronger oil prices that spur manufacturers to shift away from synthetic rubber, which is derived from oil, thus driving up prices of natural rubber.

The dollar fell to around 131.25 yen from around 132.26 yen on Tuesday afternoon in Asia, after Federal Reserve Chair Jerome Powell failed to offer fresh signs of a hawkish pushback against the resilient labour market, leading investors to bet that interest rates may not rise much further. A stronger yen reduces the value of yen-based rubber in a dollar base and normally encourages investors to sell rubber futures at OSE.

Comments

Comments are closed.