Tocom rubber futures settle 1.9% lower after the U.S. Federal Reserve decided to continue scaling back its bond-buying program and as China posted a greater-than-expected decline in factory activity in January. Despite the bearish sentiment, Tocom rubber's downside may be limited to around Y200/kg, as prices are trading near the production cost of rubber in Southeast Asia, says a Singapore-based analyst. However, if currencies of producing countries extend recent declines on emerging market fears, prices of Tocom rubber may be further pressured, he adds. Benchmark July rubber settles Y4.5 lower at Y228/kg, off the intraday low of Y225.5/kg. (huileng.tan@dowjones.com)
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