Tocom rubber futures settle 2.3% higher on buy orders after prices breached the previous Y235/kg resistance, says Kaname Gokon, a general manager at Tokyo-based brokerage, Okato Shoji Co's research section. "Tocom investors are taking new longs as they're taken back by strong gains on Shanghai today". He adds Tocom may test Y250/kg this week if gains extend Thursday, although negative factors like large stockpiles in China, Japan and negativity in Japanese equities weigh. Benchmark August rubber settles Y5.3 higher at Y240.3/kg, off the one-and-a-half month high of Y242.8/kg. (huileng.tan@dowjones.com)
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