Tokyo rubber futures ended lower on Thursday, weighed down by a fall in oil prices and a stronger Japanese yen, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery fell 1.8 yen to settle at 262.4 yen ($2.97) per kg. "TOCOM prices were still under pressure as oil keeps falling and the yen keeps rising," said a Bangkok-based trader.
The dollar was under pressure on Thursday, holding near two-month lows on a basket of currencies. Oil fell for a second day on Thursday to below $77 after a slowdown in Chinese economic growth in the second quarter and after US Federal Reserve minutes renewed concern about the recovery in the world economy. Traders said TOCOM prices could rebound on Friday if oil prices rose. However, any gains were expected to be capped by rising rubber supply in producing countries.