TOKYO (Dec 18): Benchmark Tokyo rubber futures ended up 2.1% on Monday, after hitting a near two-week high in the morning, helped by firm Shanghai futures and a weaker yen against the dollar, brokers said.
The dollar held modest gains against its peers, having received a lift after US tax reform efforts moved another step closer to ratification over the weekend.
A weaker yen makes commodities denominated in the Japanese currency cheaper for holders of other currencies.
The Tokyo Commodity Exchange rubber contract for May delivery finished 4.2 yen higher at 209 yen (US$1.86) per kg after earlier hitting its highest since Dec. 5 at 210.3 yen.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 195 yuan to finish at 14,560 yuan (US$2,202) per tonne.
The front-month rubber contract on Singapore’s SICOM exchange for January delivery last traded at 145.10 US cents per kg, up 0.1 cent.
(US$1 = 112.6400 yen)
(US$1 = 6.6124 Chinese yuan)
