Tokyo Commodity Exchange (TOCOM) futures rose
on Monday, recovering from an about 6-week low it hit last Friday, amid
optimism over economy in China, the world's biggest rubber buyer, after strong
factory activity data. Factory activity in China unexpectedly grew for the
first time in four months in March, an official survey showed on Sunday,
suggesting government stimulus measures may be starting to take hold in the
world's second-largest economy.
The benchmark TOCOM rubber contract for September delivery
finished 2.3 yen, or 1.3 percent, higher at 184.5 yen ($1.66) per kg.
The most-active rubber contract on the Shanghai futures
exchange for September delivery rose 185 yuan to finish at 11,365 yuan ($1,694)
per tonne.
"Robust data from China gave a boost to investors,"
a Tokyo-based dealer said. "Higher stocks in China and Tokyo also lent
support," he added.
TOCOM's technically specified rubber (TSR) 20 futures
contract for new October delivery closed steady at its opening price of 162.7
yen per kg
The front-month rubber contract on Singapore's SICOM exchange
for May delivery last traded at 144.8 US cents per kg, up 1.8 percent.
Thailand, the world's top natural rubber producer, will delay
the start of planned curbs on exports of the commodity by over a month due to
the general election in the country, officials from two other nations that are
also making cuts said last month.
Japan's benchmark Nikkei stock average climbed 1.4 percent on
Monday as strong Chinese factory activity data and signs of progress in
US-China trade negotiations gave investors a reason to cheer.
Oil prices rose on Monday, adding to gains in the first quarter
when major benchmarks posted their biggest increases in nearly a decade, as
concerns about supplies outweigh fears of a slowing global economy.
US President Donald Trump said on Friday that trade talks
with China were going very well, but cautioned that he would not accept
anything less than a "great deal" after top US and Chinese trade
officials wrapped up two days of negotiations in Beijing.