Tokyo rubber at five-month high on demand hopes

SINGAPORE: Japanese rubber futures finished higher on Friday, recording their biggest weekly gain in more than five months on expectations of strong demand on the back of a global economic recovery.

The Osaka Exchange rubber futures rose 1.6% to 219.3 yen ($2.00) per kg. The market has gained 4.5% this week, its biggest weekly rise since mid-February.

The rubber contract on the Shanghai futures exchange for September delivery advanced 1.3% to 13,420 yuan ($2,078.94) per tonne.

Global shares tracked Asia lower on Friday but remain on course for their sixth straight month of gains as solid corporate earnings and central bank largesse keep sentiment intact, while the dollar held near a 1-month low.