Japan futures track Shanghai lower amid property woes

TOKYO: Japanese rubber futures fell more than 1% on Thursday following lower prices on the Shanghai exchange amid concerns China's property market woes may further spill over to the wider economy.

Osaka Exchange's rubber contract for April delivery dropped 4 yen, or 1.7%, to 225.4 yen per kg.

China's property sector, a major driver of economic growth, has weakened sharply this year as Beijing cracks down on speculators and indebted developers in a broad push to ease financial risks, with prices of new homes down for the first time in six years.

Japan futures plunge on Shanghai slide amid fears over China demand

The rubber contract on the Shanghai futures exchange for January delivery fell 1.5% to finish at 13,390 yuan per tonne.