Tokyo Rice Halted After First Futures Trading Since 1939
Aug. 8 (Bloomberg) -- Rice futures in Tokyo surged in their first appearance on the bourse since 1939, triggering a suspension of trade, on concern radiation from the stricken Fukushima nuclear plant may spread to crops and curb supply.
Trade closed with no deals concluded on the Tokyo Grain Exchange after prices hit 18,500 yen ($238) per 60 kilograms from the opening, compared with the bourse’s reference price of 13,500 yen. The bourse posted today’s settlement at 14,100 yen after the market closed and expanded the daily maximum price limit to 1,000 yen for tomorrow from 600 yen....
Hat tip: Anne from Enews
Hi,
ReplyDeleteFutures are examples of derivatives, which are investments based on some underlying security, such as a stock or a bond. Futures have developed into a prominent tool for investors in a variety of markets and can be used as a way to hedge risk or to speculate, depending on the needs of the particular futures trader. Thanks a lot...
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