TOKYO: TOCOM rubber futures fell on Thursday to their lowest in almost two months following other riskier assets down as investors focused on the fiscal challenges facing president Barack Obama after his re-election that may push the United States into a recession.
Rubber futures on Tokyo Commodity Exchange for April delivery were down by 5.8 yen, to 243.2 yen per kilogram as of 15.20 JST. The contract declined as far as 242.2 yen earlier in the session, the lowest since September 14.
Obama had little time to savour victory on Wednesday after voters gave him a second term in the White House where he faces urgent economic challenges, a looming fiscal showdown and a still-divided Congress able to block his every move.
Japan’s Nikkei average shed 1.1 percent in early trade on Thursday, hurt by downbeat investor sentiment on concerns over the fiscal problems facing Obama.
Source: Rubber Country
