Markets

Japan futures tumble, but books 17pc gain for February

  • Osaka Exchange's rubber contract for August delivery finished 14.1 yen, or 4.9%, lower at 275.9 yen ($2.6) per kg. But it booked a 4% gain for the week and a 17% jump for the month.
  • The rubber contract on the Shanghai futures exchange for May delivery also tanked 945 yuan to finish at 15,990 yuan ($2,475) per tonne.
Published February 26, 2021

TOKYO: Japanese rubber futures tumbled on Friday, sliding from a four-year high hit in the previous session, as a plunge in global equities and Shanghai rubber market weighed on sentiment.

Osaka Exchange's rubber contract for August delivery finished 14.1 yen, or 4.9%, lower at 275.9 yen ($2.6) per kg. But it booked a 4% gain for the week and a 17% jump for the month.

The rubber contract on the Shanghai futures exchange for May delivery also tanked 945 yuan to finish at 15,990 yuan ($2,475) per tonne.

Global stocks fell on Friday, with Asian shares down by the most in nine months, as a rout in global bond markets sent yields flying and spooked investors amid fears the heavy losses suffered could trigger distressed selling in other assets.

The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 200.0 US cents per kg, up 2.9%.

Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.1% from last Friday, the exchange said on Friday.

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