TOKYO: TOCOM rubber futures recouped early losses and ended down 0.3 percent on Monday aided by gains in the Shanghai market, but sentiment remained weak after disappointing US jobs data and ahead of a three-day holiday in Thailand.
"The key contract found support at around 320 yen, but if it breaks through, the contract could fall as low as 310 yen," said Hiroyuki Kikukawa, general manager at trading company Nihon Unicom Inc.
He said investors were reluctant to take speculative positions ahead of a three-day Songkran water festival in the biggest rubber producer, Thailand, starting on Friday.
The key Tokyo Commodity Exchange rubber contract for September delivery settled at 324.9 yen per kg, down 1.1 yen. The contract fell to as low as 321 yen.
The most active Shanghai rubber contract for September delivery rose as high as 27,540 yuan per tonne before closing at 27,200 yuan, down 0.4 percent.
The front-month May rubber contract on the SICOM in Singapore was last traded at 372.50 US cents per kg, up 0.5 cents.
Japan's Nikkei average fell 1.5 percent to post its fifth straight day of losses on Monday, while the dollar hit a one-month low versus the yen, with a weak US jobs report raising fresh concerns over recovery in the world's largest economy.
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