By Lucy Craymer
Asian rubber futures ended lower Wednesday on a drop in oil prices and as investor sentiment was hurt after a new poll showed Republican candidate Donald Trump leading the U.S. presidential race.
Equity markets in Asia sold off on the news, with Japan's Nikkei Stock Average down 1.8% at 17134.68 points and Australia's S&P/ASX 200 1.2% lower at a seven-week low.
"The market in Asia is reacting badly to the ABC/Washington Post poll," said Tareck Horchani, deputy head of APAC sales trading at Saxo Markets. "If Trump wins, it looks like we could get a massive selloff as the market is overall long risk assets."
U.S. crude stockpiles rose by 9.3 million barrels for the week endedOct. 28, according to an industry group. When crude-oil prices fall, speculative investors in rubber futures typically bet on increased use of petroleum-based synthetic rubber, weighing on natural-rubber prices.
Asian Rubber Futures
Nov 2 Change from previous close
Tocom Apr RSS3 Y178/Kg Down Y5.1/Kg
Shanghai Jan SCR5 CNY13,965/Ton Down CNY225/Ton
Sicom Dec RSS3 US 168.5 cents/Kg Down US 4.9 cents/Kg
Sicom Dec TSR20 US 145.8 cents/Kg Down US 2.5 cents/Kg
USS Nov THB54.01-THB54.79/Kg THB54.76-THB55.40/Kg
Write to Lucy Craymer at firstname.lastname@example.org, @lucy_craymer
(END) Dow Jones Newswires
November 02, 2016 07:05 ET (11:05 GMT)
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