Japan rubber futures track Shanghai higher to hit 3-week high
Japanese rubber futures rose to their highest in three weeks on Monday, tracking strength in the Shanghai market as authorities a day earlier vowed to coordinate support to resolve local government debt, while weak Asian currencies also lent some support. Osaka Exchange’s rubber contract for January delivery recorded a five-day uptick, finishing 1.5 yen, or 0.8%, higher at 200.1 yen ($1.38) per kg. The rubber contract on the Shanghai futures exchange for January delivery jumped 180 yuan to finish at 13,000 yuan ($1,777.17) per metric ton. Japan’s benchmark Nikkei average closed up 0.37%. China will coordinate financial support to resolve local government debt problems, the central bank said in a statement on Sunday.