By Lucy Craymer
Asian rubber futures were largely higher Friday despite recent declines in the broader market.
Shares in the region broadly banked weekly losses, with Japan shrugging off the better-than-expected economic data as concerns about the U.S. presidential race curbed investors' appetite for risk.
Rubber prices were likely buoyed by upbeat economic data from China, one of the world's largest consumers of the commodity. The data showed activity in the nation's services sector expanded at a faster pace in October, which added to recent signs of firmness in the country's economy. The Caixin China services purchasing managers index, released Thursday, rose to 52.4 in October from 52.0 in September. A reading above 50 indicates expansion.
This was followed by the Nikkei Japan services purchasing managers index early Friday, which rose to 50.5 in October from 48.2 in September.
The benchmark Tokyo rubber futures prices ended the day session lower but rebounded in the night session.
Asian Rubber Futures
Nov 4 Change from previous close
Tocom Apr RSS3 Y177.8/Kg Down Y0.2/Kg
Shanghai Jan SCR5 CNY13,940/Ton Up CNY145/Ton
Sicom Dec RSS3 US 174.7 cents/Kg Up US 4.6 cents/Kg
Sicom Dec TSR20 US 149.0 cents/Kg Up US 1.7 cents/Kg
USS Nov THB54.16-THB54.69/Kg THB53.80-THB54.49/Kg
Write to Lucy Craymer at firstname.lastname@example.org, @lucy_craymer
(END) Dow Jones Newswires
November 04, 2016 06:50 ET (10:50 GMT)
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