Latest news with #JapanExchangeGroup
Business Recorder
03-06-2025
- Business
- Business Recorder
Japanese rubber futures lower on firm seasonal supply outlook
SINGAPORE: Japanese rubber futures weakened for a fourth straight session on Monday, hitting their lowest in more than a month, as seasonal harvesting firmed supply prospects. The Osaka Exchange (OSE) rubber contract for November delivery ended daytime trade 4.1 yen lower, or 1.39%, to 290.9 yen ($2.03) per kg. Earlier in the session, prices fell to 290.2 yen, the lowest since April 30. Global rubber futures ended last week sharply lower with the return of full production from the northern hemisphere following the end of the wintering season, Japan Exchange Group said in a report on Monday. Rubber crops usually undergo a season of low production from February to May before a peak harvesting period that lasts until September. Still, production in Yunnan has been reduced in the short term due to rainfall, though it is expected to return to normal in June, Chinese financial information site Tonghuashun Information said. Heavy rainfall has triggered flash floods and mudslides, damaged roads and destroyed buildings and bridges, wreaking havoc in China's southwestern Yunnan province over the long holiday weekend. On Friday, US President Donald Trump accused China of violating a bilateral deal to roll back tariffs and announced a doubling of worldwide steel and aluminium tariffs to 50%, once again rattling international trade. Meanwhile, global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China, which could force the closure of car factories within weeks and influence the intensity of automobile manufacturing, which involves using rubber-made tyres. The front-month rubber contract on the Singapore Exchange's SICOM platform for June delivery last traded at 157.1 US cents per kg, down 2.2%. China's financial markets are closed on Monday for a public holiday. Trading will resume on Tuesday, June 3.
Business Recorder
02-06-2025
- Business
- Business Recorder
Japan rubber futures fall to over one-month low on firm seasonal supply outlook
SINGAPORE: Japanese rubber futures weakened for a fourth straight session on Monday, hitting their lowest in more than a month, as seasonal harvesting firmed supply prospects. The Osaka Exchange (OSE) rubber contract for November delivery ended daytime trade 4.1 yen lower, or 1.39%, to 290.9 yen ($2.03) per kg. Earlier in the session, prices fell to 290.2 yen, the lowest since April 30. Global rubber futures ended last week sharply lower with the return of full production from the northern hemisphere following the end of the wintering season, Japan Exchange Group said in a report on Monday. Rubber crops usually undergo a season of low production from February to May before a peak harvesting period that lasts until September. Still, production in Yunnan has been reduced in the short term due to rainfall, though it is expected to return to normal in June, Chinese financial information site Tonghuashun Information said. Heavy rainfall has triggered flash floods and mudslides, damaged roads and destroyed buildings and bridges, wreaking havoc in China's southwestern Yunnan province over the long holiday weekend. Japanese rubber futures lower on firmer supply outlook On Friday, U.S. President Donald Trump accused China of violating a bilateral deal to roll back tariffs and announced a doubling of worldwide steel and aluminium tariffs to 50%, once again rattling international trade. Meanwhile, global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China, which could force the closure of car factories within weeks and influence the intensity of automobile manufacturing, which involves using rubber-made tyres. The front-month rubber contract on the Singapore Exchange's SICOM platform for June delivery last traded at 157.1 U.S. cents per kg, down 2.2%. China's financial markets are closed on Monday for a public holiday. Trading will resume on Tuesday, June 3.
Japan Times
09-05-2025
- Business
- Japan Times
Former Tokyo Stock Exchange employee and father convicted of insider trading
A former employee of the Tokyo Stock Exchange (TSE) and his father were convicted of insider trading Friday in a rare case that prosecutors say severely damaged public trust in the nation's financial markets. The Tokyo District Court handed suspended prison sentences to Keito Hosomichi, 27, and his 58-year-old father, Masato, after finding them guilty of violating the Financial Instruments and Exchange Act, in one of the few insider trading cases in the nation involving a stock exchange employee directly. They were each sentenced to 18 months' jail, suspended for three years, and fined ¥1 million ($6,880). The father was additionally ordered to forfeit approximately ¥21.16 million in illicit profits. 'Their actions severely damaged investor trust and shook the foundations of fairness and soundness in the securities market,' Presiding Judge Takao Okawa said as he delivered his verdict. The trial revealed not only regulatory lapses, but also a fraught father-son dynamic. According to a report by the Asahi Shimbun, Keito Hosomichi joined the Japan Exchange Group, the operator of the TSE, in 2021 and was assigned in September 2023 to the stock exchange's corporate disclosure department, which supports companies preparing timely disclosures. The role granted him access to confidential information related to about 180 listed firms, including details on earnings reports and upcoming takeover bids (TOBs) — events that typically trigger share price surges. According to court documents, his father, who operates a pachinko equipment business and actively trades stocks, pressured him for insider tips after learning about his assignment. He initially resisted, citing insider trading laws he had studied during corporate compliance training. But in November 2023, he caved and began passing along earnings data and other sensitive corporate information to his father. Prosecutors said the younger Hosomichi, between January and March 2024, gave undisclosed information on TOBs to his father, who used the tips to invest about ¥17 million on 15,200 shares across three companies. In court, Hosomichi admitted that his motivation stemmed from a desire to repair a distant relationship with his father, although he added that he was aware that the illegal stock trading would eventually be discovered. 'This was a grave abuse of his position and should be strongly condemned,' Judge Okawa said. He rejected Hosomichi's explanation that he acted to mend his relationship with his father, calling the motive 'naive and unworthy of leniency.' Masato Hosomichi, in turn, admitted to misleading his son, while saying he wanted to make a profit because he had been worried about the state of his finances when he retires. Okawa also sharply criticized the older man, saying his actions were 'driven by greed' and 'immoral.' Despite the father-son duo avoiding leaving a digital trail by speaking only in person or via voice calls, the scheme unraveled. Following an investigation by the Securities and Exchange Surveillance Commission, Keito Hosomichi was dismissed from the exchange in December for violating internal compliance protocols. Prosecutors argued that the case constituted a serious breach of trust not just within the TSE, but across the country's entire financial system. Both men admitted to the charges during their first hearing in April and expressed remorse for their actions. The defense argued they were 'deeply regretful' and asked the court to consider their cooperation in seeking suspended sentences — requests that were ultimately granted. Translated by The Japan Times
Bloomberg
07-04-2025
- Business
- Bloomberg
Bloomberg Daybreak Asia: Tariff War Enters Second Week
A flight from global equities accelerated Monday and investors piled into haven assets as the fallout from US President Donald Trump's tariffs deepened after China slapped retaliatory measures. From Sydney to Tokyo, Asian stocks plunged at the open along with commodities such as oil and copper. Trading of Nikkei 225 and Topix futures was suspended earlier as a circuit breaker was triggered due to a glut of sell orders, according to a notice on Japan Exchange Group's website. Yields on two-year Treasuries, the most policy sensitive bonds, dropped as much as 22 basis points while the Japanese yen and Swiss franc surged. Chinese stocks are bracing for a grim day when trading resumes after an extended weekend, during which Beijing announced 34% tariffs on all imports from the US. A gauge of US-listed Chinese shares fell 8.9% on Friday. For perspective on the week ahead for markets, we speak with Helen Zhu, Chief Investment Officer and Managing Director at NF Trinity. The tariff moves underscore the heightened concerns across financial markets as Trump attempts to reshape the global trade in Washington's favor, increasing the risk of a recession. Federal Reserve Chair Jerome Powell made clear that the central bank won't rush to react to the tariffs, which are likely to have a significant effect on the US economy, including slower growth and higher inflation. We explore what the global selloff could mean for monetary policy with Adam Coons, Co-Chief Investment Officer at Winthrop Capital Management.
