Japanese rubber futures down

SINGAPORE: Japanese rubber futures fell on Thursday, tracking domestic equities lower, as the latest round of Covid -19 curbs amid an uptick in cases in top consumer China weighed on sentiment. Osaka Exchange’s rubber contract for March delivery finished down 1.2 yen, or 0.5%, at 228.8 yen ($1.56) per kg.

The rubber contract on the Shanghai futures exchange for January delivery rose 25 yuan to finish at 12,815 yuan ($1,782) per tonne. Japan’s benchmark Nikkei share average closed down 0.60%. “All eyes seem to be on the outcome of the Oct. 16 Party Congress in China, and whether the government will move away from the zero Covid-19 policies, although it seems unlikely based on recent happenings,” said a Singapore-based trader.