AIRLINK 173.15 Increased By ▲ 15.74 (10%)
BOP 10.65 Increased By ▲ 0.28 (2.7%)
CNERGY 8.52 Increased By ▲ 0.20 (2.4%)
CPHL 97.46 Increased By ▲ 4.57 (4.92%)
FCCL 47.25 Increased By ▲ 0.52 (1.11%)
FFL 15.42 Increased By ▲ 0.54 (3.63%)
FLYNG 28.13 Increased By ▲ 1.15 (4.26%)
HUBC 138.91 Increased By ▲ 4.90 (3.66%)
HUMNL 12.81 Increased By ▲ 0.29 (2.32%)
KEL 4.54 Increased By ▲ 0.33 (7.84%)
KOSM 5.55 Increased By ▲ 0.16 (2.97%)
MLCF 62.26 Increased By ▲ 1.38 (2.27%)
OGDC 214.75 Increased By ▲ 6.23 (2.99%)
PACE 5.55 Increased By ▲ 0.15 (2.78%)
PAEL 44.86 Increased By ▲ 4.08 (10%)
PIAHCLA 18.70 Decreased By ▼ -0.10 (-0.53%)
PIBTL 10.74 Increased By ▲ 0.76 (7.62%)
POWER 12.26 Increased By ▲ 0.30 (2.51%)
PPL 173.87 Increased By ▲ 5.10 (3.02%)
PRL 36.22 Increased By ▲ 1.19 (3.4%)
PTC 23.56 Increased By ▲ 0.57 (2.48%)
SEARL 95.31 Increased By ▲ 2.21 (2.37%)
SSGC 39.13 Increased By ▲ 3.56 (10.01%)
SYM 14.02 Increased By ▲ 0.36 (2.64%)
TELE 7.23 Increased By ▲ 0.28 (4.03%)
TPLP 10.29 Increased By ▲ 0.29 (2.9%)
TRG 64.68 Increased By ▲ 4.01 (6.61%)
WAVESAPP 10.04 Increased By ▲ 0.34 (3.51%)
WTL 1.33 Increased By ▲ 0.03 (2.31%)
YOUW 3.70 Increased By ▲ 0.05 (1.37%)
BR100 12,492 Increased By 252.4 (2.06%)
BR30 37,694 Increased By 1300.9 (3.57%)
KSE100 116,189 Increased By 2036.1 (1.78%)
KSE30 35,750 Increased By 549.8 (1.56%)

SINGAPORE: Japanese rubber futures posted a weekly gain on Friday, even as the market closed lower for the day as investors weighed prospects of further stimulus from top consumer China against looming threats of a Sino-US trade war.

The April Osaka Exchange (OSE) rubber contract closed down 0.6 yen, or 0.16%, at 367.3 yen ($2.40) per kg. It climbed 4.61% for the week. The January rubber contract on the Shanghai Futures Exchange (SHFE) rose 125 yuan, or 0.69%, to 18,355 yuan ($2,566.27) per metric ton. It gained 4.57% this week. Sentiment remains upbeat across Asia and particularly in China, with investors awaiting fiscal stimulus cues as the National People’s Congress Standing Committee meeting concludes later in the day, said Jom Jacob, chief analyst at Indian analysis firm What Next Rubber.

Still, natural rubber prices may face downside risks if Beijing’s highly anticipated stimulus is either delayed or falls short of the expected scale and magnitude, said Jacob.

“The market is currently over-relying on stimulus hopes,” Jacob said. US President-elect Donald Trump has pledged to end China’s most-favoured-nation trading status and slap tariffs on Chinese imports in excess of 60% - much higher than those imposed during his first term. Some expect Beijing to roll out more forceful fiscal stimulus in the face of the tariff threats. Meanwhile, a stronger US dollar was also more positive for Asian rubber producers, said Farah Miller, founder of independent rubber-focused data firm Helixtap Technologies. There was still caution among buyers while they waited for next week’s European Parliament vote on the EU Deforestation Regulation, Miller said.

The front-month December rubber contract on Singapore Exchange’s SICOM platform last traded at 196.2 US cents per kg, down 1.2%.

Comments

Comments are closed.