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Oct 30, 2008

By profit-taking pressure on the 3rd TOCOM rubber futures prices down

Tokyo traders said, TOCOM rubber futures closed lower due to profit taking stock traders, day traders stop-loss selling after news came out that there is a fire in Thailand's rubber plant a small loss. Other commodity markets rise in early trading failed to provide upward momentum.

RSS3 benchmark January contract fell 1.9 yen, the newspaper 278.6 yen per kg.

Dealers said the market would not decline as a result of Japanese rubber stocks lower, and the contract price in a reverse state.

Expected benchmark contract technical support to 275 yen and 285 yen for the resistance.

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