Japan futures fall as Tokyo equities slump, China imports weaken

By Reuters News

By Emily Ou Yong

Oct 15 (Reuters) - Japanese rubber futures fell on Thursday, as a slump in Tokyo equities, weaker Chinese rubber imports, and profit-taking after a recent rally weighed on sentiment.

  • The Osaka Exchange (OSE) rubber contract for March delivery , was down 6.4 yen, or 1.41%, at 447 yen ($2.83) per kg as of 0055 GMT

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery slumped 575 yuan, or 2.84%, to 19,640 yuan ($2,934.58) per metric ton

  • The most active November butadiene rubber contract on the SHFE fell 425 yuan, or 2.64%, to 15,675 yuan per metric ton

  • Rubber prices may be tracking broader risk sentiment and profit-taking following a recent run-up, a Singapore-based trader said

  • With prices now near support levels, short positions could face a squeeze given the continued tightness in raw material supply, the trader said

  • Japan's Nikkei .N225 share average slumped in early trading on Thursday, with tech stocks hit hard after hot US inflation figures sparked fears of higher interest rates .T

  • China imported 588,000 tons of natural and synthetic rubber in September, down 20.8% from 742,000 tons a year earlier, the General Administration of Customs of China said on Wednesday

  • Imports totaled 5.68 million tons in the first nine months of the year, down 7.1% from 6.11 million tons in the same period last year

  • The front-month rubber contract on Singapore Exchange's SICOM platform for January delivery last traded at 247.7 US cents per kg, down 2.7%

($1 = 157.8400 yen)

($1 = 6.6926 Chinese yuan)

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