Japan rubber futures higher

SINGAPORE: Japanese rubber futures edged higher on Friday, tracking gains on the Nikkei share average and in the Shanghai market. The Osaka Exchange’s rubber contract for Oct delivery was up 0.7 yen, or 0.3%, at 245.1 yen ($1.90) per kg as of 0122 GMT. The benchmark was headed for a 2.9% loss for the week, after last week’s 0.8% gain.

The rubber contract on the Shanghai futures exchange for September delivery was up 70 yuan, or 0.6%, at 12,820 yuan ($1,889.18) per tonne. Beijing denied it was heading for lockdown as panic buying gripped the capital on Thursday. The front-month rubber contract on Singapore Exchange’s SICOM platform for June delivery last traded at 159.3 US cents per kg, up 0.3%.