Japan rubber futures rise

TOKYO: Japanese rubber futures rose on Wednesday, as a sharp jump in exports from the world’s third-largest economy last month boosted hopes for a fast-paced economic recovery.

Osaka Exchange’s rubber contract for April delivery finished 2.1 yen, or 0.9% higher, at 229.4 yen per kg.

Japanese exports rose 9.4% year-on-year in October, Ministry of Finance data showed on Wednesday, slightly below a median market forecast for a 9.9% increase in a Reuters poll. It followed 13.0% growth in the prior month and was the weakest expansion since a decline in February. Car shipments fell 36.7%.

The rubber contract on the Shanghai futures exchange for January delivery fell 0.4% to finish at 14,615 yuan per tonne.