Tokyo rubber futures Wednesday ended lower over disappointment that the Bank of Japan held off announcing fresh stimulus and a rise in the Malaysian ringgit made pricing more expensive.
Despite growing signs of trouble in Japan’s economy, the BOJ left its annual asset-purchase target unchanged at Y80 trillion ($665 billion), and reiterated that the economy “continues to recover moderately.”
“Trading remained thin as investors looked for fresh cues,” a Tokyo-based analyst said.
Furthermore, worries over exports and production getting affected by the slowdown in emerging economies will continue to affect rubber markets, he said.
The Singapore rubber futures ended slightly higher as volumes in markets across Asia remained light as Chinese markets were closed for a holiday.
Oct. 7 Change from previous close Tocom Mar RSS3 Y172 Kg Down Y1.8 Shanghai Jan SCR5 CLOSED CLOSED Thai May RSS3 THB51.00/Kg Down THB0.25 Sicom Mar RSS3 140 US cents/Kg Up 1.0 US cents Sicom Mar TSR20 126 US cents/Kg Up 0.5 US cents Asian Physical Rubber Grade Shipment Oct. 7 Oct. 6 RSS3 Nov/Dec 133/134 133/134 STR20 Nov/Dec 131/132 132/133 SMR20 Nov/Dec 130/131 131/132 SIR20 Nov/Dec 125/126 126/126 SVR3L Nov 132 132 USS Oct THB42.20-THB42.65/Kg THB42.20-THB42.65/Kg