Tokyo rubber futures down 2.4 percent

Tokyo rubber futures ended 2.4 percent lower on Friday as traders cut long positions on a weak global economic demand outlook. The benchmark rubber contract on the Tokyo Commodity Exchange for November delivery fell 5.8 yen to settle at 237.6 yen ($2.99) per kg.
The most-active rubber contract on Shanghai futures exchange for September delivery was down 610 yuan to finish at 22,055 yuan ($3,500) per tonne. The front-month July rubber contract on Singapore's SICOM exchange was last traded at 278 US cents, down 6.7 cents. China delivered a surprise interest rate cut on Thursday to combat faltering growth, underlining concern among policy makers world-wide that the euro areas deepening crisis is threatening the health of global economy. Dealers said TOCOM prices could fall further next week as technical sentiment was weak after prices finish below a strong support level of 240 yen.