TOKYO: Japanese rubber futures slid on Wednesday as US President Donald Trump’s move to halt talks on further economic stimulus dented global sentiment, prompting some investors to take profits.
Osaka Exchange’s (OSE) rubber contract for March delivery finished down 1.5 yen, or 0.8%, at 188.1 yen ($1.77) per kg.
Prospects for more aid for Americans struggling through the pandemic crumbled on Tuesday when Trump ended negotiations with Congress over a large coronavirus bill.
The front-month rubber contract on Singapore’s SICOM exchange for November delivery last traded at 139.5 US cents per kg, up 0.1%. Chinese financial markets, including commodity futures, are closed from Oct. 1 to Oct. 8 for the Golden Week holiday, which includes the Mid-Autumn Festival and the National Day. Markets will resume trade on Oct. 9.—Reuters
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