BANGKOK: Tokyo rubber futures rose 1.2 percent on Monday on the back of rising oil and share prices, but ended off a three-week high as profit taking and easing Shanghai futures capped gains.
The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery rose 3.8 yen to settle at 321.3 yen ($4.15) per kg.
It rose as much as 10.4 yen, or 3.2 percent, to 327.9 yen, the highest since September 26.
The most-active rubber contract on the Shanghai futures exchange for January delivery fell 170 yuan to finish at 28,700 yuan ($4,499) per tonne.
"Rubber sentiment was good in the early session as firmness in oil and shares lent support, but profit-taking still capped the rises," a dealer said.
Brent crude futures rose on Monday, staying above $112, on hopes European policymakers will reach an agreement to tackle the euro zone's debt crisis and help stem a slowdown in oil demand growth.
The Nikkei average rose to a six-week high on Monday, helped by hopes for corporate earnings and expectations that Europe will come up with a plan to contain its debt crisis.
Copyright Reuters, 2011
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