SINGAPORE: Japanese rubber futures fell on Tuesday ahead of China’s Golden Week holiday and a dip in crude oil prices, though a soft yen limited losses.
Osaka Exchange’s rubber contract for March delivery finished 1.4 yen, or 0.6%, lower at 235.2 yen ($1.58) per kg.
The rubber contract on the Shanghai futures exchange for January delivery fell 260 yuan, or 1.9%, to finish at 13,905 yuan ($1,902.19) per metric ton.
In top consumer China, stocks fell on Tuesday as lingering economic worries and geopolitical tensions weighed on sentiment, with thin trading ahead of the National Day holiday.
“Due to the upcoming China holiday, market activity and liquidity are expected to be low.
This environment may allow liquidity providers to confine market movement within a specific range. Portfolio adjustments could also contribute to market behaviour,” said a Singapore-based trader.