Wednesday, June 28, 2017

Tokyo futures rise for fourth day on firm oil

TOKYO, June 29 (Reuters) - Benchmark TOCOM rubber futures extended gains for a fourth straight session on Thursday, supported by firm oil futures overnight.
FUNDAMENTALS

* The Tokyo Commodity Exchange rubber contract for December delivery rose 1.8 yen to 201 yen ($1.79) per kg by 0009 GMT. The contract on Wednesday hit a near two-week high of 202 yen.

MARKET NEWS
* Oil futures climbed more than 1 percent on Wednesday to their highest in more than a week as buyers were encouraged by a small weekly decrease in U.S. production and shrugged off a surprise build in crude inventories in the world's top oil consumer.
* The U.S. dollar was quoted around 112.32 yen, compared with around 112.15 yen on Wednesday afternoon.
* Japan's benchmark Nikkei stock average was up 0.7 percent.
* Copper, lead and zinc prices hit near three-month highs on Wednesday boosted by sharp falls in the dollar, signs of tighter supply and optimism over Chinese demand, although worries about U.S. economic growth capped the upside.

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