TOKYO, Nov 16 (Reuters) – Benchmark TOCOM rubber futures fell on Monday, pressured by falling Tokyo share prices, a higher yen and softer commodity prices after the deadly attacks in Paris late last week.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for April delivery JRUc6 0#2JRU: was down 1.4 yen at 158.4 yen per kg by 0110 GMT, after booking its first weekly gain in more than a month last week. RUB/T
French warplanes pounded Islamic State positions in Syria on Sunday as police in Europe widened their investigations into coordinated attacks in Paris.Japan’s economy slid back into recession in July-Septemberas uncertainty over the overseas outlook hurt business investment, keeping policymakers under pressure to deploy new stimulus measures to support a fragile recovery.
MARKET NEWS
Japan’s benchmark Nikkei stock average (XC0009692440) was down 1 percent in Monday trade in the wake of Friday’s deadly attacks in Paris, with poor investor appetite for risk after the assault and Wall Street’s steep losses. MKTS/GLOB
The U.S. dollar was softer against the yen at 122.32 JPY= early on Monday after the attacks in Paris that killed more than 130 people.A higher yen makes yen-denominated assets less affordable when purchased in other currencies.
Copper prices slid to a six-year low on Friday as worries about economic and demand growth in top consumer China escalated and abundant supplies reinforced expectations of surpluses.
Crude oil futures opened slightly stronger in early Asiantrading on Monday following the deadly attacks on Paris, but prices remain near August lows and oil and other commodities are expected to continue under broad pressure in nervous trading.
DATA/EVENTS (GMT)
The following data is expected on Monday: (Time in GMT)
- 1000 Euro zone Inflation final Oct
- 1330 U.S. New York Fed manufacturing Nov
(Reporting by Yuka Obayashi; Editing by Richard Pullin)
