S'pore rubber futures sink

S'pore rubber futures sink

SINGAPORE (Reuter): Singapore rubber futures, reversing recent uptrend, sank slightly by the close on profit-taking to recent gains, traders said.

"Prices have risen so much, so there is good chance to take profit," one European firm's trader said. The easier sentiment also mirrored lower Tokyo values on investor selling.

Talk of persistent China buying enquiries and unfavorable crop weather in Thailand and Indonesia slowed the slide, they said. Most Indonesian offers were seen at 62-63 U.S. cents a lb. By 0945 GMT, Dec RSS3 dipped one U.S. cent to 146 cents a kg from the previous settlement.