Rubber Futures Rise on Weaker Yen, Stronger Nikkei
Japanese rubber futures rose on Friday due to a weaker yen and an uptick in local stocks, although lower oil prices capped gains. The Osaka Exchange's (OSE) rubber contract for January delivery was up 1.7 yen or 0.41% at 419.6 yen per kg, but remained little changed for the week.
The Shanghai Futures Exchange's (SHFE) September delivery rubber contract and the most-active September butadiene rubber contract on the SHFE fell by 2.59%, to 12,595 yuan per ton. A weaker Japanese currency makes yen-denominated assets more affordable to overseas buyers.
Japan's Nikkei share average jumped 4% after an overnight rally on Wall Street, fueled by Microsoft's forecasts that eased fears about the tech industry's massive AI infrastructure spending. Oil prices fell as more supplies flowed through crucial maritime chokepoints despite a lack of major breakthroughs in talks between the United States and Iran.