BANGKOK: kyo rubber futures rose 2 percent to their highest in a week on Monday, boosted by upbeat US job data which investors said boded well for vehicle -- and tyre -- purchases, but profit-taking quickly eroded gains.
The benchmark rubber contract on the Tokyo Commodity Exchange for August delivery rose 2.6 yen to settle at 338.0 yen ($4.10) per kg.
It rose 2 percent to hit a one-week high level of 341.9 yen briefly, before investors cashed in on the increase.
Weaker oil prices also capped gains, traders said. Lower oil prices make synthetic rubber a cheaper alternative to natural rubber for tyre-makers.
"It seems like investors could take profits again if prices break above a major resistance of 340 yen and that could trap TOCOM prices to move in the narrow range with 340 yen, being seen as a major resistance," a Bangkok-based trader said.
The most active rubber contract on Shanghai futures Exchange for May delivery rose 35 yuan to finish at 28,795 yuan ($4,600) per tonne.
The front-month April rubber contract on Singapore's SICOM exchange was last traded at 380.5 US cents per kg, down 0.7 cents.
US employers added more than 200,000 workers to their payrolls for a third straight month in February, a sign the economy was strengthening.
Oil fell on Monday for the first time in four sessions due to concerns about slowing global demand following weak Chinese exports.
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