The cross-asset rally came after China’s central bank announced over the weekend that it would expand a pilot program to boost banks’ lending abilities.
Rubber futures’ move mirrored improvements elsewhere: the Shanghai Composite Index closed up 3.3% while Chinese firms in Hong Kong led the Hang Seng Index up 1.2%. Brent crude oil traded up 0.8% at $53.09 in Asia trade after hitting its highest level since July last week.
The Tocom rubber futures were closed during the day session, however. The Tocom benchmark March futures contract ended up 1.1 yen higher at 175.1 yen a kilogram in the night session, which is considered part of the following day’s trading.
Oct. 12 Change from previous close Tocom Mar RSS3 CLOSED Shanghai Jan SCR5 CNY11,790/Ton Up CNY180 Thai May RSS3 THB51.80/Kg Up THB0.15 Sicom Mar RSS3 143 US cents/Kg Unchanged Sicom Mar TSR20 129.9 US cents/Kg Up 1.7 US cents Asian Physical Rubber Grade Shipment Oct. 10 Oct. 9 RSS3 Nov/Dec 135/136 134/135 STR20 Nov/Dec 134/135 132/132 SMR20 Nov/Dec 133/134 132/132 SIR20 Nov/Dec 128/128.5 127/127.5 SVR3L Nov 133 132 USS THB42.62/Kg THB41.91/Kg