TOKYO Aug 28 Benchmark TOCOM rubber futures
fell on Thursday as the stronger yen and geopolitical tensions
in Syria pressured the contract which sets the tone for
Southeast Asian tyre rubber prices.
* The key Tokyo Commodity Exchange (TOCOM) rubber contract
for February delivery was down 3.0 yen at
274.9 yen per kg at 0036 GMT, after settling 0.9 yen lower on
* The U.S. dollar was quoted around 97.18 yen in
early Asian trade, down from a high around 98.54 yen on Monday,
as the geopolitical uncertainty in Syria prompted investors to
pile into the safe-haven Japanese currency.
A strong yen makes yen-denominated assets more expensive
when purchased in other currencies.
* The United States and its allies geared up for a likely
military strike against Syria that could come within days and
would be the most aggressive action by the West in the Middle
Eastern nation's two-and-a-half-year civil war.
* The Goodyear Tire & Rubber Co said late on Tuesday
it has reached an agreement with its labour union that allows it
to freeze its defined benefit pension plans, reduce staffing and
keep wages and benefits in line with a prior agreement.
* For the top stories in the rubber market and other news,
* Japan's benchmark Nikkei stock average dropped
1.95 percent in early Wednesday trade, with exporters leading
the declines as the stronger yen hurt sentiment for the
companies that support Japan's export-reliant economy.
* The 19-commodity Thomson Reuters-Jefferies CRB index
ended 0.9 percent higher on Tuesday as higher crude
oil, gasoline and precious metals prices outweighed losses in
grains and other agricultural commodities.
* The following data is expected on Wednesday: (Time in
0600 Germany Gfk consumer sentiment
0600 Germany Import prices
0800 Euro zone M3 money supply
1400 U.S. Pending home sales
1430 U.S. EIA weekly crude stocks