Tokyo Futures Higher On Stocks, Fund Buying

Tokyo rubber futures rose further on Wednesday (Mar 30) as funds resumed buying after the market was oversold while rising stock markets and a weaker yen lent additional support, dealers said.
FUNDAMENTAL
The benchmark rubber contract on the Tokyo Commodity Exchange for September delivery rose 11.4 yen from Tuesday's (Mar 29) close to the session's high of 428.6 yen ($5.20) per kg.
The most-active Shanghai rubber contract for September delivery rose 235 yuan to 34,550 yuan ($5,266) per tonne by 0106 GMT.
The yen wallowed at 10-month lows versus the euro and near a three-week trough on the dollar early in Asia on Wednesday (Mar 30), having suffered broad losses after several major chart support levels were breached.
(Reuters, March 30, 2011)