Tokyo rubber rises

TOKYO: Japanese rubber futures rose 2% on Thursday, gaining for a second straight session, after Bank of Japan’s (BoJ) governor said the country’s economy was picking up from the impact of the COVID-19 pandemic.

Osaka Exchange’s rubber contract for September delivery finished up 4.8 yen, or 2.1%, at 236.9 yen per kg.

The rubber contract on the Shanghai futures exchange for September delivery rose 1.4% to finish at 13,730 yuan per tonne.

Japan’s economy is picking up thanks to recovering global demand and massive stimulus spending, although any recovery is likely to be modest due to lingering caution over the pandemic, BoJ Governor Haruhiko Kuroda said on Thursday.