SINGAPORE: Japanese rubber futures ended higher on Thursday, helped by a weaker yen, supply disruptions from heavy rainfall, and a strong vehicle market.
The Osaka Exchange (OSE) rubber contract for March delivery was up 2 yen, or 0.65 percent, at 309 yen (USD2.05) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery rose 130 yuan, or 0.86 percent, to 15,245 yuan (USD2,140.25) per metric ton. The most-active November butadiene rubber contract on the SHFE gained 105 yuan, or 0.95percent, to 11,120 yuan per ton.
The yen weakened to a one-week low against the dollar as the market awaited details of a big stimulus package from new Prime Minister Sanae Takaichi. A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers. Japan’s Nikkei fell more than 1percent as investors booked profits from a rally driven by expectations for fiscal dove Takaichi’s new government.
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