By Vibhuti Agarwal
Asian rubber prices Thursday ended the session higher, led by a rise in Japanese stocks as investors embraced Donald Trump's surprise victory in the U.S. presidential election.
Japan's Nikkei Stock Average closed up 6.7%, its highest percentage gain since February, as traders overcame initial worries about Trump's victory.
Analysts said a Trump presidency could turn positive for growth in Japan because more fiscal stimulus in the U.S. would be likely to increase demand in the U.S. for Japanese goods. "This could result in higher Japanese growth," a Tokyo-based analyst said.
The Tokyo Commodity Exchange rubber contract for April delivery ended 10.3 yen higher to Y198.6 ($1.86) a kilogram Thursday.
In other Asian markets, the most-active rubber contract on the Shanghai futures exchange for January delivery rose 210 yuan to settle at CNY15,535 ($2,287) a metric ton.
Asian Rubber Futures
Nov 10 Change from previous close
Tocom Apr RSS3 Y198.6/Kg Up Y10.3
Shanghai Jan SCR5 CNY15,535/ton Up CNY210
Sicom Jan RSS3 186.9 US cents/Kg Up 8.4 US cents/Kg
Sicom Mar TSR20 172.9 US cents/Kg Up 9.9 US cents/Kg
USS Nov THB56.25-THB56.36/Kg THB55.98-THB56.60/Kg
By Vibhuti Agarwal at firstname.lastname@example.org
(END) Dow Jones Newswires
November 10, 2016 06:23 ET (11:23 GMT)
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