Japan rubber up

TOKYO: Japanese rubber futures rose on Friday, tracking the Shanghai market after Chinese authorities reported the lowest level of new COVID-19 cases in more than a month, suggesting the latest outbreak there is easing. Osaka Exchange’s rubber contract for July delivery finished 5.8 yen, or 2.5%, higher at 239.5 yen ($2.27) per kg.

The rubber contract on the Shanghai futures exchange for May delivery rose 295 yuan to finish at 14,730 yuan ($2,276.59) per tonne. China reported the fewest new COVID-19 cases in over a month, official data showed on Friday, suggesting that the latest wave of the disease is subsiding ahead of the key Lunar New Year holiday period set to begin next week.