The price of rubber for delivery in February 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rose 1.14% or 2.60 points to 231.40 yen per kilogram (kg) at 10:34 pm.
Previously, rubber prices opened up 0.39% at 229.70 yen per kg position, after trading on Tuesday (12/9) ended with a gain of 1.06% at 228.80 position.
According to Gu Jiong, Yutaka Shoji analyst in Tokyo, rubber prices also gain support from Nikkei's strengthening.
"The strengthening of Nikkei and crude oil prices sustained the price of rubber," he said, as quoted by Bloomberg.
WTI oil price contract of October 2917 today remained stable at US $ 48.23 per barrel at 10:30 am after posting a strengthening 0.33% at the end of trading Tuesday (12/9).
Meanwhile, Japan's Nikkei 225 index was up 0.47% or 93.20 points to 19,869.82 at 09.35 WIB after ending up more than one percent in the previous trading session.
Rubber prices continue the rally even as the yen's currency appreciates. Today's yen exchange rate is observed to strengthen 0.08% or 0.09 point to 110.08 at 1039 WIB.
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