Tokyo rubber slides on May 27

Tokyo Commodity Exchange (TOCOM) futures slid on Wednesday on worries about Sino-US tensions over Hong Kong.

TOCOM's rubber contract for November delivery finished 0.6 yen lower at 154.0 yen ($1.43) per kg.

The most-active rubber contract on the Shanghai futures exchange for September delivery fell 20 yuan to finish at 10,250 yuan ($1,432) per tonne.

The front-month rubber contract on Singapore's SICOM exchange for June delivery last traded at 108.7 US cents per kg, down 1.3%.

Renewed political unrest in Hong Kong in reaction to Beijing's proposed national security laws for the city weighed on global shares, offsetting optimism about the re-opening of the world economy.

“Commodity market has turned to a “risk-on" mode thanks to the easing of the COVID-19 restrictions, but growing US-China frictions and fears over a second-wave of the infection kept gains in check," said Hiroyuki Kikukawa, general manager of research at Nissa Securities. “The TOCOM is expected to stay in a tight range between 150 and 160 yen for a while," he said.

Weaker oil prices also dented sentiment on Wednesday, falling on concerns over the pace of demand recovery, tempering an easing of lockdowns to halt the spread of the coronavirus. The US dollar was quoted around 107.52 yen, compared with 107.83 yen in late Asia trade the previous day.