SINGAPORE: Japanese rubber futures fell on Wednesday, weighed down by a weaker domestic stock market as prospects of more aggressive US rate hikes reduced risk appetite, while a softer yen and stabilising oil prices lent some support to the market.
The Osaka Exchange (OSE) rubber contract for August delivery was down 0.8 yen, or 0.4%, at 224.2 yen ($1.63) per kg, as of 0205 GMT. The rubber contract on the Shanghai futures exchange (SHFE) for May delivery was down 45 yuan, or 0.4%, at 12,390 yuan ($1,777.26) per tonne. Japan’s benchmark Nikkei share average opened down 0.25%.
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