RUBBER Japan futures slip on fears over China’s Evergrande woes – Reuters

1 minute read

  • Japanese rubber futures slipped on Wednesday, as China’s Evergrande Group woes heightened fears about slowing economic growth in the world’s top rubber consumer, while a weak Japanese economic data also weighed on sentiment.
  • The Osaka Exchange rubber contract for May delivery , was down 0.7 yen, or 0.3%, at 236.3 yen ($2.1) per kg as of 0409 GMT.
  • The rubber contract on the Shanghai futures exchange for May delivery was unchanged at 14,715 yuan ($2,316) per tonne on Wednesday.
  • Evergrande Group’s shares hit an all-time low after a missed debt payment deadline put the developer at risk of becoming China’s biggest defaulter, although hopes of a managed debt restructuring calmed fears of a messy collapse. [USN:L1N2ST02B]
  • Japan’s economy shrank slightly faster than initially reported in the third quarter, as a sharp rise in local COVID-19 cases hit private consumption and a global chip supply shortage hurt corporate sentiment. [USN:L4N2SS141]
  • The front-month rubber contract on Singapore’s SICOM exchange for January delivery last traded at 171.1 U.S. cents per kg, up 0.2%.

TOKYO, Dec 8 (Reuters) – ($1 = 6.3538 Chinese yuan renminbi)

($1 = 113.4800 yen)

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Reporting by Yuka Obayashi; Editing by Rashmi Aich

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