Tocom rubber futures settle 1.5% higher as hopes of action by U.S. and European policy makers to help the global economy offset worries ahead of Greek elections this weekend. Kaname Gokon, deputy general manager at Tokyo-based brokerage Okato Shoji, says Tocom is likely to be locked in the Y235-Y250/kg range this week due to low trading volumes and open interest after heavy long liquidation in the last few weeks; there may be further downside risk in the weeks ahead due to weak Chinese demand on high domestic stockpiles, he says. Benchmark November rubber settles Y3.6 higher at Y242.6/kg, off the intraday high of Y243.3/kg.

Source: Dow Jones

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