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0648 GMT [Dow Jones] Tocom rubber futures settle 2.7% lower, tripping the circuit breaker in late trade as prices came under pressure from crude oil, which is extending a sharp overnight decline in Asian trade. Investors on Japanese bourses were also rattled after an earthquake of 6.8 magnitude struck northeastern Japan late Friday afternoon. Despite Tocom”s decline, trade volumes are still low, with many participants out of the market since the steep selloff early last week and amid the Japanese summer holiday season. Tocom will continue to take macroeconomic cues in the next session; the key support is Y335/kg, Bangkok-based DS Futures analyst Chaiwat Muenmee says. Benchmark January rubber settles Y9.9 lower at Y352.3/kg, off an intraday low of Y352/kg.
Source: Dow Jones