DJ Tocom Rubber Settles Lower; Y190/Kg Strong Support -- Market Talk
Tocom rubber futures settle 1.2% lower after weakness in crude-oil prices reverses earlier gains in the Japanese market. Trade volumes are low, reflecting a lack of interest. Investors are struggling to find fresh cues in a depressed market, where prices have tanked 30% this year. As Tocom rubber breaches psychological support at Y200/kg, the next target is Y190/kg -- a "very strong" support that will likely spur bargain hunting and buybacks to cover short positions, a Tokyo-based analyst says. Benchmark December rubber settles Y2.5 lower at Y198.0/kg, after moving in the Y196.2-Y202.3/kg range. (huileng.tan@wsj.com; Twitter: @huileng_tan)
??�: Dow Jones Newswires
