SHFE rubber extends rally on Friday ahead of China holidays
2012-9-28 0:00:00Font Size：Big Medium Small
Rubber futures traded on the Shanghai Futures Exchange (SHFE) settled sharply higher amid buoyant sentiment on Friday (September 28, 2012), the last trading day before China’s week-long holiday.
The most actively traded contract for January 2013 delivery ended at 25,000 yuan/metric ton, up 1,110 yuan or 4.65%.
Investors were hoping that the Chinese securities regulators would launch new plans to stimulate the market.
Upside momentum also came from Spain’s new budget plan approved by the government on Thursday. Under the new plan, the Spanish government plans to pass more than 40 new laws to reform the economy in a bid to end the country’s debt crisis, according to the government.
(Contributed by Olivia, olivia@tireworld.com.cn)
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