Overview of the hottest Tokyo futures market 17

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Overview of the Tokyo futures market

the futures contract of the Tokyo industrial products exchange (TOCOM) reversed its decline and closed higher on Monday. It had previously hit a one week low at the beginning of the session. The failure of the futures price to fall below 190 yen prompted investors to cover their short positions. TOCOM index closed at 197.8 yen per kilogram in May, up 3.9 yen from the level at the end of last Friday. The contract fell as low as 190.5 yen per kilogram, a low since November 27. After that, it bounced back under the incentive of new buyers placing two samples in the same direction on the lower plate of the bending instrument. A Japanese trader said, "prices were depressed last week, and the weakness of last week continued in early trading today." He added, "however, the price did not fall below 190.0 yen. The strengthened technological innovation may lead to short covering and new buying." TOCOM futures fell sharply to 193.9 yen on Friday, as the price of rubber fell below the key level of 200 yen, triggering stop loss. Traders said that the price of futures glue may remain at 190. 5% in the next few days Technical range of the yen. The increase of Japanese rubber inventory also exerts pressure on the price. The fixtures equipped with the universal testing machine should be coated with anti rust oil for safekeeping

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