Tokyo rubber jumps

Benchmark TOCOM rubber futures were on Friday set for their biggest annual gain since 2009, rising more than 60 percent in 2016, helped by a rally in crude oil prices and fund buying. The Tokyo Commodity Exchange rubber contract for June delivery jumped 66 percent to 263.9 yen per kg in 2016. In December, it rallied around 15 percent to end higher for the fourth consecutive month. The most-active rubber contract on the Shanghai futures exchange climbed 35 percent during the year to 18,170 yuan a tonne. Both markets have finished lower in the last three years.
"Shanghai has crossed 18,000 mark and Tokyo is above 260 level as the dollar is weakening," said Jiong Gu, an analyst at Yutaka Shoji Co in Tokyo.