Benchmark TOCOM rubber futures rose on Thursday, snapping a 4-day losing streak and bouncing back from a 1-month low hit the previous day, with an overnight gain in the Shanghai market prompting investors to unwind short positions.
FUNDAMENTALS
* The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery was up 4.6 yen, or 2.2 percent, at 216.8 yen ($1.92) per kg at 0027 GMT. The previous day, it touched its lowest since Aug. 15 at 209.5 yen, before finishing at 212.2 yen.
* The most-active rubber contract on the Shanghai Futures Exchange, for January delivery, rose 140 yuan overnight to 15,115 yuan ($2,301) per tonne.
* The U.S. Federal Reserve left interest rates unchanged on Wednesday but signaled it still expects one more increase by the end of the year despite a recent bout of low inflation.
MARKET NEWS
* The U.S. dollar rose broadly on Wednesday, hitting a two-month high versus the yen. It was quoted around 112.63 yen early Thursday.
* Japan's benchmark Nikkei stock average was up 0.7 percent on Thursday, helped by the weaker yen.
* Aluminium soared to its highest in five years on Wednesday on reports that mammoth Chinese producer Chinalco was cutting output two months early and would soon pare back stocks of available metal.
* Oil prices settled up 2 percent on Wednesday despite a rise in U.S. crude inventories, with the market heading for its largest third-quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts.
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