Benchmark Tokyo rubber futures rose nearly three percent on Wednesday to hit a two-week high as a rally in Shanghai futures prompted a flurry of buying, dealers said. The Tokyo Commodity Exchange (TOCOM) rubber contract for January delivery finished 5.6 yen, or 2.7 percent, higher at 215.4 yen ($1.96) per kg, after hitting the highest since July 26 at 216.3 yen.
The most-active rubber contract on the Shanghai futures exchange for January delivery surged 560 yuan to finish at 16,615 yuan ($2,489) per tonne. It earlier touched a high of 16,750 yuan, the highest since April 7. An overnight rally in Shanghai led to fresh buying in Tokyo in early trade and Shanghai's further gains in day-trading then lent an extra push, a Tokyo-based dealer said.
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