Tokyo rubber down

TOKYO: Japanese rubber futures fell for the first time in four days on Tuesday after the World Bank forecast the Asia-Pacific region would see the lowest growth in more than five decades because of the novel coronavirus pandemic.

Osaka Exchange's rubber contract for March delivery finished 2.5 yen, or 1.3% lower, at 186.5 yen per kg.

The Covid-19 pandemic is forecast to cause the slowest economic growth in more than 50 years in East Asia and the Pacific as well as China, with as many as 38 million people facing a return to poverty, the World Bank said.

The most-active rubber contract on the Shanghai futures exchange for January delivery fell 25 yuan to finish at 12,625 yuan per tonne.