Tokyo rubber futures rise

TOKYO: Japanese rubber futures rose more than 2% on Tuesday following gains in similar contracts on the Shanghai exchange, with most Chinese markets rising in the world’s biggest user of almost all commodities including rubber.

Osaka Exchange’s rubber contract for September delivery finished 5 yen, or 2.2%, higher at 234.9 yen per kg.

The rubber contract on the Shanghai futures exchange for September delivery rose 2.7% to finish at 13,915 yuan per tonne.

Shares in many Asian markets were higher led by Chinese equities, while oil prices gained as a weaker dollar stoked buying demand for the greenback-denominated commodity.