Tokyo rubber ends at 2-1/2 months high

TOKYO: Tokyo Commodity Exchange (TOCOM) rubber futures closed at their highest in two and a half months as the wider market gained over growing optimism of a recovery from the coronavirus pandemic.

TOCOM's rubber contract for November delivery finished 1.7 yen, or 1.1% higher, at 157 yen per kg, its highest close since March 18.

In the latest sign of an economic pickup, China's services sector returned to growth last month for the first time since January, a private survey showed on Wednesday.

Data has shown that economies are picking up in developed countries after activity bottomed out in April. The most-active rubber contract on the Shanghai futures exchange was up nearly 1% at 10,415 yuan per tonne as of 0633 GMT.