RUBBER-Tokyo futures end with gains, off 2-week high

Benchmark Tokyo rubber futures closed higher on Tuesday but off a two-week high as the yen's decline versus the dollar, which had stoked the recent rally, stalled and further buying withered as rubber prices hit a technical ceiling of 280 yen.

The dollar reversed earlier gains to fall 0.2 percent versus the yen on Tuesday, having hit a four-year high of around 99.65 yen after new Bank of Japan governor Haruhiko Kuroda unveiled a massive stimulus programme on Thursday and swiftly followed up by buying longer-dated bonds on Monday.

"The rubber market came back a bit after it went too far relative to a reaction to the Kuroda shock in the currency market," said a manager at a Japanese commodity brokerage.

The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM), for September delivery, rose 5.6 yen to settle at 275.9 yen ($2.8) per kg.

It earlier climbed as high as 280.3 yen, the highest since March 28.

A correction from a quick recovery from a 4-1/2 month low of 252 yen marked last week to a two-week high on Tuesday could lead to the market's technical retreat to around 265 yen, the manager said.

The most-active rubber contract on the Shanghai Futures Exchange for September delivery advanced 200 yuan to 21,685 yuan ($3,500) per tonne.

The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 255.00 U.S. cents per kg, down 6.4 cents. ($1 = 6.2033 Chinese yuan) ($1 = 98.8850 Japanese yen) (Reporting by Risa Maeda; Editing by Muralikumar Anantharaman)