IRCo's DCP gained 2.54 US cents/kg., and natural rubber (NR) prices in Thailand, Indonesia, and Malaysia also rose higher on Friday comparing to Monday due mainly to the upbeat Shanghai rubber futures during the week and firm fundamentals continued in the physical rubber market and lower-than-usual supplies in major producing countries.
At the same time, stocks on Wall Street went up for the last three days of the week as U.S. investors were optimistic about the U.S. economic stability on the back of the better-than-expected increase of 67,000 jobs and the lower-than-expected U.S. non-farm payrolls of 54,000 jobs reported by the U.S. Bureau of Labor Statistics on Friday. The bellwether stock of Asia, Nikkei 225 in Tokyo, also rose for the third session on Friday after Sony and Toyota Motor charged ahead.
However, a persisting strengthening yen against the greenback still disturb and still cause a headache to Japanese exporters despite the Japanese government offered a modest stimulus package and its central bank took steps aimed at curbing the rising yen on Monday. Likewise, the rising value of currencies of Thailand, Indonesia, and Malaysia during the week was undermining export competitiveness. In addition, the slightly fall in crude oil futures on New York Mercantile Exchange on Friday from an earlier Friday did not have much impact on NR prices.
(irco.biz)
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