Rubber slips

Benchmark Tokyo rubber futures slipped on Wednesday on stop-loss sales by small investors after prices failed to break above a major resistance of 200 yen, but a weaker Japanese yen lent support, dealers said. The Tokyo Commodity Exchange rubber contract for November delivery eased 0.1 yen to settle at 193.4 yen ($1.89) per kg. "TOCOM rubber was supported by a weaker yen, but the market lacked of follow-through buying to rise above 200 yen and that spurred stop-loss selling in the afternoon session," said a Bangkok-based dealer.
The most-active rubber contract on the Shanghai futures exchange for September delivery fell 50 yuan to finish at 14,105 yuan ($2,300)per tonne. The front-month rubber contract on Singapore's SICOM exchange for July delivery was last traded at 165.0 US cents.