By Vibhuti Agarwal
Rubber prices across Asian markets ended stronger Monday, thanks to weaker currency moves that buoyed the mood of the market.
"Tokyo rubber rose as the Chinese yuan and Japanese yen fell against the U.S. dollar," said Kaname Gokon, an analyst at Okato Shoji brokerage in Tokyo.
Encouraging economic data out of Japan boosted Tokyo-traded shares, creating spillover positivity for rubber. The Nikkei Stock Average closed up 0.8% at 18106.02, its highest level since Jan. 6.
Japan energy stocks rose on hopes for a deal to trim crude-oil output, aiding rubber sentiment, Mr. Gokon said.
April Tokyo futures finished 14.6 yen higher at Y224.1 ($2.02) a kilogram.
The most-active rubber contracton the Shanghai futures exchange for January delivery rose 440 yuan to settle at 16,605 yuan ($2,411) a metric ton.
Asian Rubber Futures
Nov 21 Change from previous close
Tocom Apr RSS3 Y224.1/Kg Up Y14.6
Shanghai Jan SCR5 CNY16,605/ton Up CNY440
Sicom Apr RSS3 201.4 US cents/Kg Up 10.4 US cents/Kg
Sicom Mar TSR20 178.4 US cents/Kg Up 7.5 US cents/Kg
USS Nov THB61.18-THB61.78/Kg THB59.60-THB60.19/Kg
By Vibhuti Agarwal at email@example.com
(END) Dow Jones Newswires
November 21, 2016 05:52 ET (10:52 GMT)
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