Japan Futures Rise for Third Session, But Momentum Fades on Weaker Oil
Japan Rubber Futures Rise for Third Day
Japanese rubber futures extended gains for a third consecutive session on Wednesday, though gains eased compared with earlier morning trading as crude oil prices retreated and traders assessed developments in Iran-U.S. negotiations.
Osaka Exchange and Shanghai Futures
The Osaka Exchange (OSE) rubber contract for October delivery TRB1! was up 0.68% at 411.8 yen ($2.58) per kg, as of 0323 GMT. The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery RU1! rose 0.35% to 17,395 yuan ($2,564.35) per metric ton.
Impact of Oil Prices
Oil prices eased from recent highs on Wednesday, erasing some of the previous day's 4% gain as traders sought clarity on negotiations between Iran and the U.S. after renewed hostilities set back efforts to reopen the Strait of Hormuz. Natural rubber often tracks oil prices as it competes for market share with synthetic rubber, which is made from crude oil.
Japan's Nikkei Index
Japan's Nikkei NI225 rose 0.5%, briefly trading above the 66,000 mark for the first time.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
Japan 225 Index
The Nikkei index is reported to have risen 0.5% in the news, influenced by positive sentiment in the rubber sector and overall market optimism.
The Osaka Exchange rubber futures are directly mentioned in the news with a reported price increase.
The Shanghai Futures Exchange rubber contract is directly mentioned in the news with a reported gain.
The news, analyses, and comments on this platform do not constitute investment advice. When making investment decisions, you should conduct your own research and consult with a qualified financial advisor if necessary. FiNews cannot be held responsible for any losses that may arise from the use of this information.
More Headlines
Tokyo Core Inflation Slows, Remains Below BOJ Target
Tokyo Core Inflation Slows, Remains Below BOJ Target
…Nikkei May Rise on Hopes for U.S.-Iran Peace Deal
Nikkei May Rise on Hopes for U.S.-Iran Peace Deal
…Australian Pension Fund HUB24 Faces Regulatory Scrutiny
Australian Pension Fund HUB24 Faces Regulatory Scrutiny
…