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Japan futures fall for 4th session as yen jumps, Tokyo equities drop

By Reuters News

By Emily Ou Yong

Nov 4 (Reuters) - Japanese rubber futures fell for a fourth straight session on Wednesday, weighed down by a stronger yen and weaker Tokyo equities, while doubts lingered over whether El Niño will trigger significant production cuts in key growing regions.

  • The Osaka Exchange (OSE) rubber contract for April delivery , was down 6.9 yen, or 1.57%, at 431.2 yen ($2.73) per kg. The market was closed on Tuesday for a holiday

  • The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery fell 370 yuan, or 1.92%, to 18,865 yuan ($2,821.74) per metric ton

  • The most-active December butadiene rubber contract on the SHFE lost 155 yuan, or 0.94%, to 16,370 yuan per ton

  • The yen jumped nearly 0.8% to 157.92 per US dollar as the dollar tumbled to a one-month low, with safe-haven currencies leading gains after Democrats captured Congress in midterm elections, spurring fears of tougher regulation of the AI sector FRX/

  • A stronger Japanese currency makes yen-denominated assets less affordable to overseas buyers

  • Japan's Nikkei .N225 ended 1.42% lower, after falling as much as 4.8% to its lowest since May 20 .T

  • Weaker risk sentiment tends to weigh on rubber futures

  • Output in major producing areas faces a test in November and prices could extend their pullback if there is no clear news of production cuts materialising, analysts at broker Everbright Futures said in a note

  • However, they said year-on-year declines in output and expectations of stronger domestic demand later this year should provide support to the market

  • The front-month rubber contract on Singapore Exchange's SICOM platform for January delivery last traded at 240.7 US cents per kg, down 1.6% as of 0705 GMT

($1 = 157.8800 yen)

($1 = 6.6856 Chinese yuan)

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