Tokyo rubber futures ended higher on Friday on the back of brighter US economic data and firm oil prices, but some operators chose to take quick profits ahead of the weekend as the market is still jumpy, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for May delivery rose 3.9 yen to settle at 270.7 yen ($3.47) per kg. During the session it hit a high of 271.8 yen.
On Thursday, the benchmark fell more than 4 percent to a two-week low of 266.2 yen on heavy stop-loss selling. "The rubber market got support from good US economic data and firmer oil prices, but players still took profits ahead of the weekend to avoid risks," one dealer said. Dealers said TOCOM prices could rise further next week after prices they finished above key resistance at 270 yen per kg.
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