Tokyo Commodity Exchange (TOCOM) futures fell on Friday as tensions between the United States and China heightened over the imposition of a new law in Hong Kong, and Beijing omitting setting a target for economic growth this year.
TOCOM's rubber contract for October delivery finished 4 yen, or 2.6%, lower at 150.5 yen per kg, the biggest daily decline on a percentage basis since April 21. The contract fell for the first week in three, ending 1% lower.
The rubber contract on the Shanghai futures exchange for September delivery fell 2.6% to finish at 10,190 yuan per tonne. China plans impose new national security legislation on Hong Kong, tightening its grip on the semi-autonomous city, prompting a strong warning from US President Donald Trump.
Beijing dropped its annual growth target for the first time on Friday while promising more government spending as the COVID-19 pandemic bludgeons the world's second-biggest economy.
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