Tokyo rubber futures rise

Benchmark Tokyo rubber futures rose in slow trade on Friday following a rally in Shanghai, but were still down 2 percent on the week due to a halt in the yen's decline and caution over a rise in seasonal supply in coming months. Prices in the Shanghai rubber market rose more than 3 percent, tracking higher share prices in China as property stocks surged ahead of April home price data due on Saturday.
The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery settled at 287.8 yen ($2.8) per kg, up 5.5 yen from the previous close and snapping a three-day losing streak. "The Tokyo market fell in early trade but later followed a rally in Shanghai to go higher," a manager at a Japanese commodity brokerage said. The most-active rubber contract on the Shanghai futures exchange was up 665 yuan at 20,595 yuan ($3,300) per tonne. The front-month June rubber contract on Singapore's SICOM futures exchange was last traded at 255 US cents per kg, up 8.4 cents.