BANGKOK: Tokyo rubber futures jumped 3 percent to a one-week high on Wednesday, tracking rises in stocks and oil prices, which were supported by upbeat US economic data, dealers said.
The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 6.6 yen to settle at 277.9 yen ($3.57) per kg.
It rose as much as 3 percent to an intra-day high of 279.7 yen, the highest since December 14.
"TOCOM sentiment improved as prices were supported by stocks and oil. However, the upside may still be capped by profit-taking," one dealer said.
US housing starts and building permits jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was entering a tentative recovery.
With upbeat US data that pointed to a recovery in demand in the world's biggest oil consumer, Brent crude futures rose above $107 on Wednesday, gaining for a third straight day.
US stocks also rallied nearly 3 percent on Tuesday as investors bought surging banks, homebuilders and networking companies, though low volume was seen as amplifying the market's move.
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