Tocom rubber futures settle 2.1% higher after gaining as much as 3.3% to a one-month high of Y259.6/kg on short covering, as market sentiment is boosted by speculation that central banks will introduce more stimulus measures to boost the global economy. “Tocom has been posting strong gains this week, scaring all the bears, who are rushing to buy back their positions. Many of them have been shorting Tocom below Y235/kg. But now, even these people are saying there’s a good chance that prices may go up to Y270-Y280/kg,” says a trader in Thailand. Benchmark December rubber settles Y5.4 higher at Y256.6/kg.

Source: Dow Jones

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