SINGAPORE: Japanese rubber futures rose for a second session on Monday, as a weaker yen supported the market, although trading was subdued with the Chinese market closed for a holiday.
The Osaka Exchange (OSE) rubber contract for March delivery rose 1.5 yen, or 0.6% at 236.8 yen per kg.
The dollar was steady on Monday but remained close to a 10-month peak as investors positioned for US interest rates staying higher for longer, while the yen slid towards 150 per dollar and near a one-year low, putting traders on watch for intervention.
Japan’s Nikkei share average erased earlier gains to end lower on Monday as investors sold stocks amid worries about rising interest rates.
The front-month rubber contract on Singapore Exchange’s SICOM platform added 0.6% to 140.6 US cents per kg.
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