14 Nov 2022
Markets gain across Asia as China shortens Covid quarantine period
Tokyo – Natural rubber futures closed higher in all major rubber exchanges and recovered from multi-year lows during the trading week ended 11 Nov.
The strong recovery of the global stock markets during the latter part of the week supported the rubber market sentiment, said the Japanese Stock Exchange, JPX in its weekly report 14 Nov.
In addition, China relaxed Covid-19 restriction measures on 11 Nov, shortening the quarantine period for inbound travellers.
The new measures by Beijing, JPX said, help improve market sentiment as they signal the re-opening of the Chinese markets and borders.
In Japan, OSE rubber futures rallied 1.6%, while Sicom futures rose 4.1% with new speculative buying activities.
In China, SHFE and INE futures rose 3.1% and 1.7%, respectively.
Both markets, said JPX, decreased their open interests, ‘indicating that some short-cover transactions occurred.’
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