TOKYO: Japanese rubber futures tumbled on Monday, extending losses from Friday, as they tracked a slumping Shanghai market on worries over weaker economic growth in top consumer China, while a higher yen prompted selling.
Osaka Exchange's rubber contract for March delivery finished 4.9 yen, or 2.1%, lower at 226.0 yen per kg. It lost 3.2% on Friday.
The rubber contract on the Shanghai futures exchange for January delivery plunged 385 yuan to finish at 14,605 yuan per tonne.
China's economic growth in the third quarter slipped to an annual 4.9%, the slowest in a year. However, policymakers are unlikely to waver much in their attempts to address what they see as long-term risks and distortions in the economy, analysts say.
The US dollar was quoted around 113.65 yen, against 114.00 yen on Friday. A stronger yen makes yen-denominated assets less affordable when purchased in other currencies.
The front-month rubber contract on Singapore's SICOM exchange for November delivery last traded at 174.3 US cents per kg, down 0.9%.
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