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Tokyo rubber futures higher

Tokyo rubber futures higher

TOKYO: Benchmark Tokyo rubber futures on Thursday ended higher to snap four consecutive sessions of declines as market participants went bargain-hunting after the contract hit a five-month low.

Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, recovered after falling as much as 2.5 percent earlier in the session, getting support from a jump in the nearest-month contract ahead of the expiry on Monday.

“The nearest month contract stabilised after recent heavy selling ahead of the expiry, leading to the gains in benchmark TOCOM contract,” said a Tokyo-based dealer.—Reuters

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