To provide a resin composition for use in a sealant, an adhesive or the like which is excellent in not only easy peelability but also sealability and heat resistance, exhibits substantially no oil bleeding and preferably has improved compression set and the like.

The resin composition comprises 1-200 pts. wt. of a heat-resistant polymer (B), 5-100 pts. wt. of a liquid softener (C) selected from a process oil, a liquid rubber and a modified product thereof, and 5-250 pts. wt. of a tackifier (D) based on 100 pts. wt. of a styrenic thermoplastic elastomer (A), wherein the resin composition further comprises air bubbles. The heat-resistant polymer (B) preferably has a Tg of 90°C or higher. The volume of the resin composition containing air bubbles is preferably 1.5-4.0 times the volume of the resin composition before containing the air bubbles.