SHFE rubber rebounds sharply on Fri.
Rubber futures traded on the Shanghai Futures Exchange (SHFE) saw a sharp technical rebound on Friday (April 19, 2013) and widened gains in the afternoon session to end up nearly 3%.
The most actively traded contract for September 2013 delivery ended at 19,325 yuan/metric ton, up 545 yuan or 2.90%.
The support also came from the buoyant equity market on Friday. Share prices onChina’sShanghaiand Shenzhen stock exchanges rocketed more than 2 percent on Friday, boosted by capital inflow expectation.
Reports goes thatChina’s securities regulatory authorities are making efforts to promote the inclusion of Chinese A-shares in the weights of famous international indices. The report triggered market expectation that huge amounts of capital will be attracted to buy A-shares if such shares have weights in famous international indices.
Meanwhile, China Banking Regulatory Commission urged on Thursday greater credit support from banks to expand domestic demand, which also helped improved the market sentiment.
(Contributed by Olivia, olivia@tireworld.com.cn)
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