Benchmark Tokyo rubber futures inched down on Thursday, dragged down by a slide in Tokyo equities and the US dollar against the safe-haven yen as further sell-offs in crude oil futures hurt investors' risk appetite. The Tokyo Commodity Exchange rubber contract for June delivery finished 0.2 yen lower at 156.5 yen ($1.34) per kg. "The afternoon plunge in Tokyo equities market added to pressure while the yen's strength prompted fresh sells," said Hiroyuki Kikukawa, general manager at Nihon Unicom Inc.
"A broad slump in global financial markets led by falling oil prices soured investors' mind." The most-active rubber contract on the Shanghai futures exchange for May delivery fell 80 yuan to finish at 10,200 yuan ($1,550.69) per tonne. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 108.1 US cents per kg, down 0.9 cent.
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