Japanese rubber down

SINGAPORE: Japanese rubber futures edged down on Wednesday, tracking losses in the Shanghai market, as the latest round of Covid-19 curbs in top consumer China dented demand sentiment.

The Osaka Exchange’s rubber contract for March delivery was down 1.1 yen, or 0.5%, at 228.9 yen ($1.56) per kg as of 0200 GMT. The rubber contract on the Shanghai futures exchange for January delivery was down 185 yuan, or 1.4%, at 12,785 yuan ($1,780) per tonne. Japan’s benchmark Nikkei share average opened down 0.18%.

Shanghai and other big Chinese cities, including Shenzhen, have ramped up testing for Covid-19 as infections rise, with some local authorities hastily closing schools, entertainment venues, and tourist spots.