BANGKOK (Sept 26): Tokyo rubber futures ended higher on Friday on speculative buying due to a weaker yen and rising Shanghai futures, dealers said.
The Tokyo Commodity Exchange rubber contract for March delivery rose 4.5 yen to settle at 185.4 yen per kg.
“Rising Shanghai futures and a weaker yen encouraged investors to take speculative buying positions,” said a Bangkok-based dealer.
The yen fell 0.2 percent to 108.96 per dollar.
Shanghai benchmark futures for January delivery gained 4.8 percent to 12,545 yuan per tonne before finishing 3.7 percent higher at 12,415 yuan.
Dealers said TOCOM prices could rise further next week after finishing above a major support level of 185 yen.
The front-month rubber contract on Singapore’s SICOM exchange for October delivery was last traded at 146.5 U.S. cents per kg, up 1.5 cents.