Tokyo Commodity Exchange (TOCOM) futures inched higher on Tuesday, hitting an over 3-1/2-month high, as investors hoped that China's surprise rate cut would help bolster economy in the world's top rubber consumer. TOCOM's rubber contract for April delivery finished 0.3 yen higher at 182.6 yen ($1.68) per kg. It hit a high of 184.3 yen, since July 26, earlier in the session
The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 136.2 US cents per kg, down 0.5%. The most-active rubber contract on the Shanghai futures exchange for January delivery rose 160 yuan to finish at 12,130 yuan ($1,727) per tonne. China's new technically specified rubber (TSR) 20 futures contract was last up 55 yuan at 10,260 yuan per tonne.
China's central bank unexpectedly trimmed a closely watched lending rate on Monday, the first such cut in more than four years and a signal to markets that policymakers are ready to act to prop up slowing growth.
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