IRCo's DCP continued rising to 537.15 US cents/kg on Friday while cash prices in Thailand, Indonesia, and Malaysia followed suit due to persistent firm market fundamentals and supply tightness. In the meantime, investors were still bullish about higher prices on major rubber futures in Shanghai, Tokyo, and Bangkok ahead of the coming Chinese New year early next month.
Global stock markets in general ended the week higher compared with the earlier week as economic indicators in both advanced and emerging market economies remained intact. These gave a chance to speculators to push up oil prices higher on crude oil futures on Friday.
The global financial front stayed calm during the week despite the ECB president viewed that the ECB could raise interest rates later this year to fight against inflation if necessary while China's central bank decided to raise reserve requirements for banks on Friday so as to pull out excessive money from its financial system to avoid hyperinflation.
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