Asian Rubber Futures End Lower on Sept.15
Rubber futures closed lower across Asia on disappointment that the Bank of Japan did not announce a further extension of its stimulus package following the conclusion of its two day meeting on Tuesday.
There was some positioning in play that saw a number of markets react negatively to the central bank holding firm. Gu Jiong, an analyst at Yutaka Shoji, said the rubber futures market was one of those to see weakness.
Furthermore, he said continued fragility in China's stock market -- with the Shanghai Composite Index sliding 3.5% to close at 3,005.17 -- was not helping investors who were concerned about what impact slowing growth in China would have on demand for the product.
However, the December Tocom benchmark rubber contract pared some of the session's losses to end up Y1.2 at Y170.8 a kilogram in the night session, which is considered part of the next day of trading.
Related Article
- Asian Rubber Futures End Lower
- China Shanghai Rubber Futures Closing Prices, Volume
- Double Coin releases tire innovation, manufacturing and technology video
- Dongfeng Nissan fined over 100 million yuan for violating Anti-monopoly Law in China
- CPCA: Review of passenger China’s car market in August and outlook for September
- Tireworld Insight: Domestic tire makers eye overseas expansion
- Tireworld Insight: Price disparity severe between China's rubber exports and imports
- Tireworld Insight: China tire exports dependent on US market performance
- Tireworld Insight: SHFE rubber expected to move in tight range in short-term
- Tireworld Insight: Rubber futures to test near-term resistance at 15,000 yuan/tonne
- Tireworld Insight: China’s tire industry on track of rapid growth
