At the Tokyo Commodity Exchange (TOCOM), rubber prices on May 24, 2019, the term of 10/2019 fell, in the context of the fear that the US-China trade war quickly turned to cold war technology. between the two largest economies in the world.
Rubber price on the floor TOCOM 1.5 JPY decreased equivalent to 0.8% to JPY 189.3 (USD 1.73) / kg, after touching the lowest level of 1 week (188.6 JPY / kg) in previous session. For the whole week, rubber price decreased by 1.8%.
US President Donald Trump said US complaints against Huawei Technologies Co Ltd could be resolved within a USChina trade agreement and called the Chinese telecommunications company "very dangerous". .
Rubber futures on Shanghai floor ended overnight trading down 1% to 11,680 CNY (1,691 USD) / ton.
Yunnan Natural Rubber Industry Group Co. Ltd., China's largest natural rubber producer, said it had temporarily stopped exploiting a number of plantations since last week, due to drought and rising temperatures in key growing areas. . However, the precipitation of the previous day may make this situation less stressful.
Japan's average Nikkei index fell 0.81% to 20,980.79 on Friday (May 24, 2019), after Wall Street stocks fell, leaving investors out of the market, fearing war. The escalating trade picture between the US and China will curb global economic growth.
The dollar is at about 109.65 JPY compared to about 110.28 JPY on the fifth day (May 23, 2019).
Oil prices fell about 5% on Thursday (May 23, 2019), because trade tension reduced demand prospects, causing crude oil prices to have the biggest decline in days and weeks in six months.
The price of TSR20 rubber in the term of 11/2019 on TOCOM floor dropped 1.9% to 159.6 JPY / kg. Rubber price in the period of 6/2019 on SICOM dropped by 0.1% to 151.4 US cents / kg.
(Translated with Google Translate from http://vinanet.vn/nong-san/tt-cao-su-chau-a-ngay-2452019-gia-tai-tokyo-vathuong-hai-dong-loat-giam-712846.html)
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Founder of i2Matrix. A market strategist, private trader and sought-after financial speaker and trainer in the Asian Region, Benny Lee has coached hundreds of professional and retails traders and investors in Malaysia, Singapore, Hong Kong, Thailand, Vietnam, Pakistan for more than 13 years. His passion in trading and chart analysis leads him to develop trading strategies that have helped him and many others to trade and invest successfully in the financial markets.
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