TOKYO (Jan 16): Benchmark Tokyo rubber futures pulled back from a 3½-month high to close lower on Tuesday as investors took profits and the yen stayed at high levels against the dollar, making the yen-denominated assets less affordable when purchased in other currencies.
The Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery finished 1.9 yen lower at 212.9 yen (US$1.92) per kg, after touching the highest since Sept. 28 at 216.3 yen earlier in the session.
The dollar was quoted at around 110.74 yen in late trade in Asia, near a four-month low of 110.32 yen set on Monday.
Weaker Shanghai futures also weighed on sentiment, dealers said.
The most-active rubber contract on the Shanghai futures exchange for May delivery fell 145 yuan to finish at 14,225 yuan (US$2,210) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for February delivery last traded at 152.5 US cents per kg, down 1.2 cents.
(US$1 = 6.4380 Chinese yuan)
(US$1 = 110.7400 yen)
