The start of a U.S. government shutdown on Tuesday dented market sentiment and caused global stock markets to go down during the week. The dollar weakened against its rival currencies, especially the Japanese yen, while crude oil futures rose slightly.
At the same time, Asian rubber markets were subdued and trended downward because of investor concerns about the U.S. government shutdown, the closure of the Shanghai rubber market for the National Day holiday from Tuesday to Friday, and the weakening yen against the dollar.
It is expected that the U.S. debt limit and government shutdown will still dampen investor confidence and will weigh on rubber markets in the region in the coming week.
Source: IRCo
