Rubber prices ended Friday's session mixed as a weakening in the Japanese yen provided support for Tokyo contracts, while other rubber futures were hit by the weakness in the broader market.
Japanese shares were hammered Friday, capping their worst week since the 2008 global financial crisis, as a litany of worries weighed on investors, from slowing global growth to the health of the world's banks. Shares elsewhere dropped, as the extent of declines in Japan fueled worries that global market volatility was far from over. Hong Kong's Hang Seng Index closed down 1.2% at 18,319.58, the lowest since June 2012. The index posted a loss of 5% for the week. Australia's S&P/ASX 200 closed off 1.2% and South Korea's Kospi fell 1.4%.
Also, a Singapore-based trader said some investors remained hesitant to position for significant moves lower after a decision last week from the International Tripartite Rubber Council. The council plans to reduce supply into the export market for six months from the start of March.
