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TOCOM Rubber Hits 1-week High As Traders Look For Bargains
Oct 24, 2018

TOKYO (Oct 10): Benchmark Tokyo rubber futures rose to a one-week high on Wednesday as traders looked for bargains, but the session witnessed low activity as focus was on the newly listed technically specified rubber (TSR) contract, dealers said.

“Market participants, especially Thai producers, may be more interested in trading the new TSR futures now,” said Jiong Gu, an analyst at Yutaka Shoji.

In early evening trade on Wednesday, considered a part of Thursday’s trade, volume in TSR was twice that of RSS futures.

The Tokyo Commodity Exchange (TOCOM) launched the new rubber futures on Tuesday as the bourse looks to return to profitability by expanding its product listings to compete with other Asian exchanges.