TOKYO: Japanese rubber futures rose more than 2% on Thursday as optimism firmed over the country’s economic recovery from the COVID-19 pandemic after a survey showed that consumer confidence improved in February.

Osaka Exchange’s rubber contract for August delivery finished 5.9 yen, or 2.3%, higher at 266.9 yen per kg.

Japan’s consumer confidence improved in February, a Cabinet Office survey showed on Thursday, with the sentiment index for general households that includes views on incomes and jobs at 33.8 in February, versus 29.6 in January.

The rubber contract on the Shanghai futures exchange for May delivery fell 1.9% to finish at 15,200 yuan per tonne.—Reuters