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Tokyo Commodity Exchange (TOCOM) futures surged more than 3% on Tuesday, buoyed by Sino-US trade deal optimism.

TOCOM's rubber contract for June delivery finished 6.4 yen ($0.0582) higher at 207.8 yen per kg.

The most-active rubber contract on the Shanghai futures exchange for May delivery fell 30 yuan ($4.36) to finish at 13,250 yuan per tonne. China's new technically specified rubber (TSR) 20 futures contract was last down 50 yuan at 10,870 yuan per tonne.

Japan's benchmark Nikkei stock average was up 0.73%. The front-month rubber contract on Singapore's SICOM exchange for February delivery last traded at 151.6 US cents per kg, down 0.5%.

China and the United States are expected to sign the Phase 1 trade deal on Wednesday. Under the deal, Beijing has pledged to ramp up purchases of US energy, auto, aircraft and farm products.

The US dollar was quoted around 109.94 yen, compared with around 109.93 yen on Monday afternoon.

Copyright Reuters, 2020

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