2022.08.03 10:15

RUBBER-Japanese futures climb on weaker yen, Shanghai rally

SINGAPORE, Aug 3 (Reuters) -

SINGAPORE, Aug 3 (Reuters) -

  • Japanese rubber futures snapped a three-session losing streak on Wednesday, tracking gains in the Shanghai market as a weaker yen against the U.S. dollar prompted fresh buying.

  • The Osaka Exchange rubber contract for January delivery


(0#2JRU:) was up 1.8 yen, or 0.8 %, at 228.8 yen ($1.71) per kg as of 0200 GMT.

  • The rubber contract on the Shanghai futures exchange for September delivery (SNRv1) was up 80 yuan, or 0.7% at 12,080 yuan ($1,790) per tonne.

  • Japan’s benchmark Nikkei average (.N225) opened up 0.28%.


  • The U.S. dollar was quoted around 133.67 yen (JPY=) , after bouncing back from an almost two-month low of 130.39 yen the previous session. (FRX/)

  • A weaker yen makes yen-denominated assets more affordable when purchased in other currencies, boosting demand.

  • Asia-Pacific bond yields followed U.S. Treasury yields higher and the dollar continued its climb after Federal Reserve officials signalled they are nowhere near done raising interest rates. (MKTS/GLOB)

  • The front-month rubber contract on Singapore Exchange’s SICOM platform for September delivery (STFc1) last traded at 151.8 U.S. cents per kg, down 0.8%. ($1 = 133.6700 yen) ($1 = 6.7491 yuan)

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