TOKYO, Aug 19 (Reuters) – Benchmark Tokyo rubber futuresrose 0.2 percent on Tuesday, helped by a weaker yen and firmShanghai futures, dealers said.
The benchmark rubber contract on the Tokyo CommodityExchange (TOCOM) for January delivery rose 0.4 yen tosettle at 197.9 yen ($1.93) per kg.
The contract rose to as high as 199.0 yen during thesession, rebounding from near a 10-week low of 195.0 hit onMonday.
The dollar gained to 102.54 yen, having maintainedits slow rebound from a low of 101.51 hit on Aug. 8, on upbeatU.S. housing data and a rise in U.S. bond yields.
“The dollar/yen rose and helped (TOCOM) rubber recover the198 yen level,” said Kaname Gokon, general manager of researchat brokerage Okato Shoji in Tokyo.
“The trading is very thin after last week’s obon holidays,and the market could not pull out of range trading due to nochange in fundamentals.”
The most-active rubber contract on the Shanghai futuresexchange for January delivery rose 90 yuan to finish at14,980 yuan ($2,440) per tonne.
The front-month rubber contract on Singapore’s SICOMexchange for September delivery last traded at 163.40U.S. cents per kg, up 0.1 cent.
(1 US dollar = 102.5500 Japanese yen)
(1 US dollar = 6.1384 Chinese yuan)
(Reporting by Osamu Tsukimori; Editing by Anupama Dwivedi)
– Reuters
