Tokyo rubber moves up

TOKYO: Japanese rubber futures rose on Monday to the highest in nearly two months as manufacturing activity data signalled an improvement in Asian economies despite the Covid-19 crisis that hit global growth and demand for commodities.

Osaka Exchange's rubber contract for January delivery finished up 3.4 yen, or 2.1%, at 167 yen ($1.58) per kg.

The contract rose to as high as 167.2 yen, the highest since June 8.

The rubber contract on the Shanghai futures exchange for September delivery rose 35 yuan to finish at 10,860 yuan per tonne.

China's factory activity increased at the fastest rate in nearly a decade in July, with the Caixin/Markit PMI at 52.8.-Reuters