Japanese rubber futures inched lower on Thursday after a six-session winning run, although the fall was limited by fears of supply disruptions from Thailand.
The Osaka Exchange (OSE) rubber contract for January delivery was down 0.7 yen, or 0.22%, at 322.9 yen ($2.19) per kg as of 0200 GMT.
The January rubber contract on the Shanghai Futures Exchange (SHFE) rose 65 yuan, or 0.41%, to 15,940 yuan ($2,225.67) per metric ton.
Data showed China’s new home prices fell for the 13th straight month in July. China’s property sector, at its peak, accounted for a fifth of the economy.
Top producer Thailand’s meteorological agency warned of heavy rains that may cause flash floods from Aug. 14-20.
The yen was steady at 147.26 per dollar, after data showed Japan’s economy expanded by a faster-than-expected annualised 3.1% in April-June, rebounding from the previous quarter due to a solid pick-up in consumption.
A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers.
Investors are still digesting Japanese Prime Minister Fumio Kishida’s decision to step down next month, although analysts said the news has had limited impact on markets.
The front-month rubber contract on Singapore Exchange’s SICOM platform for September delivery last traded at 172.2 U.S. cents per kg, up 0.6%.
($1 = 147.5100 yen)
($1 = 7.1619 yuan)
