Tokyo rubber futures jumped 3.7 percent to a three-week high on Monday, with charts indicating they could keep rising the next day, helped by climbing share prices and expectations of further economic stimulus in the United States and Europe. The benchmark rubber contract on the Tokyo Commodity Exchange for January delivery settled up 3.3 percent, or 7.3 yen, at 228.6 yen ($2.91) per kg, after earlier marking 229.5 yen, its highest since August 6.
"TOCOM prices gained on expectations that the US and the EU would take further action to boost the global economy and that helped support commodity and share prices," said a Bangkok-based trader. The most-active January delivery contract on the Shanghai Futures Exchange advanced 775 yuan, or 3.6 percent, to finish at 22,545 yuan ($3,500) per tonne. The front-month September rubber contract on Singapore's SICOM exchange was last traded at 259.0 US cents per kg, up 2.2 cents.
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