SINGAPORE: Japanese rubber futures inched lower on Wednesday, tracking losses in the Shanghai market following weak factory activity data in China, but positive sentiment over domestic data showing factory output growth capped the losses.
Osaka Exchange’s rubber contract for February delivery finished 0.3 yen, or 0.1%, lower at 226.1 yen ($1.63) per kg. The rubber contract on the Shanghai futures exchange for January delivery fell 105 yuan to finish at 12,565 yuan ($1,822) per tonne.
Japan’s benchmark Nikkei share average closed down 0.37%.
Japan’s factories extended expansion in output to a second month in July as motor vehicle production improved, marking a positive start to the third quarter for manufacturers and broader economic activity.
Bank of Japan board member Junko Nakagawa on Wednesday warned of risks to the country’s fragile economy such as the chance of rising living costs hurting household spending.
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