Rubber rebounds on Dec.27

Benchmark Tokyo rubber futures rose on Tuesday, rebounding from a 2-week low hit earlier in the session, as investors covered short positions after the US dollar inched higher against the yen. The Tokyo Commodity Exchange (TOCOM) rubber contract for June delivery finished 1.7 yen, or 0.7 percent, higher at 257.2 yen ($2.19) per kg. It touched the lowest since December 12, at 248.8 yen earlier in the session.

"The Tokyo market was weighed down by position adjustments despite a continued fall in Shanghai futures," said Jiong Gu, an analyst at Yutaka Shoji Co. The most-active rubber contract on the Shanghai futures exchange for May delivery fell 70 yuan to finish at 17,930 yuan ($2,579.82) per tonne. The front-month rubber contract on Singapore's SICOM exchange for January delivery last traded at 186.9 US cents per kg, down 3.4 cent.

The TOCOM delayed its start of evening trading to 6:15 pm (0915 GMT) from its usual opening at 0730 GMT, due to data processing trouble. The bourse plans to begin Wednesday's day trading at 8:45 am (23:45 GMT), a spokeswoman said, adding that TOCOM is looking into the reasons for the trouble. The dollar was around 0.1 percent higher at 117.23 yen in late Asian trade on Tuesday in trade curtailed by holidays in financial centres in Europe and Asia.

"The TOCOM may be boosted if the yen slides again against the US dollar," Gu said. "But investors may stay cautious for a while as there is a chance that the US dollar will come under pressure after US President-elect Donald Trump takes office next month," he added.