TOKYO: Japanese rubber futures hit an about one-month high on Tuesday, as a strong performance in the Tokyo stock market raised hopes of swift economic recovery in the country, while a weaker yen also provided support.
Osaka Exchange's rubber contract for January delivery finished 2.3 yen higher at 222.2 yen ($2) per kg, after reaching the highest since July 7 of 223.8 yen earlier in the session.
Japanese stocks ended higher on Tuesday as corporate earnings continued to impress, with the Nikkei share average marking a mid-July peak during the session.
Japanese financial markets were closed on Monday for a national holiday.
The dollar was quoted around 110.48 yen in late Asia trade on Tuesday, against 109.80 yen on Friday. A weaker yen makes yen-denominated assets more affordable when purchased in other currencies.
The rubber contract on the Shanghai futures exchange for January delivery fell 10 yuan to finish at 14,910 yuan ($2,300) per tonne. The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 173.5 US cents per kg, up 0.1%.
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