SINGAPORE: Japanese rubber futures fell on Wednesday, tracking losses in the Shanghai market, as weaker domestic equities amid continued concerns over a global economic slowdown weighed on sentiment.
Osaka Exchange’s rubber contract for March delivery finished 3.6 yen, or 1.6%, lower at 227.9 yen ($1.57) per kg.
The rubber contract on the Shanghai futures exchange for January delivery fell 115 yuan to finish at 13,225 yuan ($1,830) per tonne. Japan’s benchmark Nikkei share average closed down 1.50%, ending at a near three-month low.
Asian share markets sank on Wednesday as surging borrowing costs intensified fears of a global recession, spooking investors into the arms of the safe-haven dollar and punishing currencies across the region.
The front-month rubber contract on Singapore Exchange’s SICOM platform for October delivery last traded at 133.8 US cents per kg, down 0.4%.
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