TOKYO, Dec 19 (Reuters) – Benchmark Tokyo rubber futures ended down on Monday, snapping six days of gains, as a stronger yen prompted profit-taking after the benchmark contract hit the highest in more than three and a half years in the previous session. Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, and Shanghai futures fell in tandem as some investors were unwinding speculative investments ahead of year-end holidays, a Tokyo-based dealer said.
The Tokyo Commodity Exchange rubber contract for May delivery JRUc6 0#2JRU: finished down 7.1 yen at 276.3 yen ($2.35) per kg. The contract, which hit a 3-1/2-year high of 291.7 yen on Friday, is down more than 5 percent from that peak. Against the yen, the dollar fell as much as 0.9 percent on Friday as investors booked profits from last week’s highs. USD/ A stronger yen makes Japanese currency-denominated assets more expensive when purchased in other currencies.
The most-active rubber contract on the Shanghai futures exchange for May delivery SNRcv1 fell 425 yuan to finish at 19,520 yuan ($2,810) per tonne. The front-month rubber contract on Singapore’s SICOM exchange for January delivery STFc1 last traded at 194 U.S. cents per kg, down 3.1 cents.
($1 = 117.4700 yen) ($1 = 6.9460 Chinese yuan)
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(Reporting by Osamu Tsukimori; Editing by Sherry Jacob-Phillips)
