TOKYO: Tokyo Commodity Exchange (TOCOM) rubber futures closed lower on Wednesday, after staying in a tight range, as Covid-19 continued to spread unabatedly in some parts of the world, but losses were limited on Chinese economic rebound hopes.
TOCOM's rubber contract for December delivery finished 0.2 yen lower at 157.2 yen ($1.46) per kg.
The US coronavirus outbreak crossed a grim milestone of more than 3 million cases on Tuesday as more states reported record rise of new infections.
But the most-active rubber contract on the Shanghai futures exchange for September delivery rose 55 yuan to finish at 10,650 yuan ($1,518) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for August delivery last traded at 118.0 US cents per kg, up 0.9%.
Stronger equities in top buyer China helped boost investors' sentiment. Shares in mainland China closed at multi-year highs on Wednesday.
But some investors were concerned that damage from heavy rain in China may stall its economic rebound.
The country raised its national emergency response level as days of torrential rain triggered flood warnings.
The US dollar was quoted around 107.55 yen, in line with the levels in late Asia trade the previous day. Japan's benchmark Nikkei stock average lost 0.9%.