Tokyo rubber futures rose on Thursday on the back of strong Chinese economic data, but sentiment remained weak after prices failed to break above a major resistance of 265 yen, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for March delivery was up 1.2 yen to settle at 262.7 yen ($2.70) per kg.
"China PMI data and a weaker yen helped support TOCOM prices, but sentiment was not so good as there was no follow-through buying to push prices to break above 265 yen," said a Bangkok-based dealer. The most-active rubber contract on Shanghai futures exchange for January delivery was down 140 yuan to settle at 20,145 yuan ($3,300) per tonne. The front-month November rubber contract on Singapore's SICOM exchange was last traded at 232 US cents per kg, up 0.5 cent.