Tokyo Commodity Exchange (TOCOM) futures climbed on Friday, tracking strong Shanghai futures, amid optimism over a potential Sino-US trade deal. The benchmark TOCOM rubber contract for March delivery finished 2.2 yen ($0.0202) higher at 166 yen per kg. The most-active rubber contract on the Shanghai futures exchange for January delivery rose 180 yuan ($25.42) to finish at 11,765 yuan per tonne. China's new technically specified rubber (TSR) 20 futures contract was last up 100 yuan at 9,980 yuan per tonne.
TOCOM's TSR 20 futures contract for April delivery closed at 148.9 yen per kg. The front-month rubber contract on Singapore's SICOM exchange for November delivery last traded at 130.9 US cents per kg, up 0.2%. US and Chinese trade negotiators are working on nailing down a Phase 1 trade deal text for their presidents to sign next month, US Treasury Secretary Steven Mnuchin said on Wednesday, adding he was prepared to travel to Beijing for more meetings if necessary.
The US dollar was quoted around 108.69 yen, compared with around 108.65 yen on Thursday afternoon. Oil prices slid on Friday on jitters over demand from China after the world's largest oil importer recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States Japan's benchmark Nikkei stock average was up 0.18%.
Comments
Comments are closed.