Tokyo rubber rises

TOKYO: Tokyo Commodity Exchange (TOCOM) rubber futures rose more than 2% on Tuesday on rising confidence in financial markets about positive trial data from potential Covid-19 vaccines.

TOCOM's rubber contract for December delivery finished 3.7 yen, or 2.4%, higher at 159 yen per kg.

The rubber contract on the Shanghai futures exchange for September delivery rose 1.6% to 10.695 yuan per tonne.

Initial findings from trials of three potential vaccines have shown encouraging results, without any serious side effects, with one possibly being rolled out by the end of the year.

European Union leaders also agreed to a massive stimulus plan for their coronavirus-throttled economies in the early hours of Tuesday.