TOKYO: Japanese rubber futures rose on Wednesday, after a release showed that Bank of Japan (BoJ) board members were hopeful of an economic recovery from the pandemic.

Osaka Exchange’s rubber contract for November delivery finished 24 yen, or 1%, higher at 234.1 yen per kg.

BoJ board members voiced hope in April that the massive stimulus deployed by governments would quicken Japan’s economic recovery, with domestic consumption potentially providing a tailwind as accumulated savings get spent.

The rubber contract on the Shanghai futures exchange for September delivery rose 2.3% to finish at 12,935 yuan per tonne.