TOKYO: Tokyo Commodity Exchange (TOCOM) rubber futures fell on Monday (November 5, 2012) following share markets lower as investors shed risk before a closely fought U.S. presidential election and ignored strong U.S. jobs data to focus on stuttering economic growth worldwide.
The benchmark rubber contract on TOCOM for April delivery fell -6.8 Yen to 248.6 Yen per kg as of 15.05 JST.
The most active Shanghai rubber futures for May delivery also dropped 3 percent to 23,590 Yuan ($3,800) per ton.
U.S. president Barack Obama and Republican challenger Mitt Romney were neck-and-neck in opinion polls in the final 48 hours before Tuesday’s vote, making investors wary of holding riskier assets amid the uncertainty.
The U.S. dollar hovered around two-month highs against a basket of major currencies in Asia on Monday as investors sought the safe-haven currency given uncertainty.
Source: Rubber Country
