TOKYO, July 22 (Reuters) – Benchmark Tokyo rubber futuresended little changed on Tuesday, erasing earlier losses helpedby a weaker yen and the strength in Shanghai futures, dealerssaid.
The benchmark rubber contract on the Tokyo CommodityExchange (TOCOM) for December delivery rose 0.1 yen tosettle at 202.3 yen ($1.99) per kg. TOCOM markets were closed onMonday due to a national holiday.
The contract touched an intraday low of 199.7 yen, thelowest since last Thursday.
“It started lower in the morning, dragged down from Monday’slower close in Shanghai futures, but a weaker yen helped themarket recover some ground amid thin trading,” said KanameGokon, general manager of research at brokerage Okato Shoji inTokyo.
The dollar crept up 0.1 percent to 101.48 yen on aslight reduction in geopolitically-inspired risk aversion thatlifted equities across Asia.
Starting Tuesday, TOCOM’s day session is between 0000 GMTand 0615 GMT, ending 15 minutes earlier than before. Rubbernight session is between 1630 and 1000 GMT, with tradingbeginning 30 minutes earlier. The total trading time is expandedby 15 minutes overall to increase trading opportunities.
The most-active rubber contract on the Shanghai futuresexchange for January delivery rose 170 yuan to finishat 15,390 yuan ($2,500) per tonne.
The front-month rubber contract on Singapore’s SICOMexchange for August delivery last traded at 166.80 U.S.cents per kg, down 1.0 cent.
($1 = 101.5200 Japanese Yen)
($1 = 6.2042 Chinese Yuan)
(Reporting by Osamu Tsukimori; Editing by Subhranshu Sahu)
– Reuters
