Rubber prices moved higher in trading today, Monday (26/2/2018), amid strengthening Japanese and global stock markets
The price of rubber for delivery in August 2018, the most-active contract on the Tokyo Commodity Exchange (Tocom), rose 2.80 percent, or 5.40 points, to 194.00 yen per kilogram (kg) at 10:12 pm.
The July 2018 rubber contract rose 2.82 percent to 193.50 yen per kg after trading last week closed up 1.67 percent to 188.20 yen.
Kazuhiko Saito, an analyst with brokerage commodity Fujitomi, said a global stock market rally prompted investor interest in riskier assets.
"This leads to an increase in rubber purchases in futures exchanges," he said, as quoted by Bloomberg, Monday (26/2/2018).
Japan's Nikkei 225 index rose 0.82 percent or 179.29 points to 22,072.07 at 9:35 am, while the broader Topix gained 0.63 percent to 1,771.59.
Meanwhile, today's yen exchange rate strengthened 0.28% or 0.30 points to 106.59 position per US dollar at 10:39 pm.
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