Benchmark Tokyo rubber futures rebounded on Wednesday, tracking higher Shanghai futures and on short-covering after China GDP came in line with expectations, but trade was light as physical traders in Thailand were away due to holiday, dealers said.
The Tokyo Commodity Exchange (TOCOM) rubber contract for September delivery finished 2.8 yen, or 1.4 percent higher, at 198.8 yen ($2) per kg.
TOCOM futures, which set the tone for tyre rubber prices in Southeast Asia, rose to as high as 199.2 yen, but the benchmark contract could not go beyond a key barrier of 200 yen.
Data earlier in the day showed growth in China's economy slowed to a six-year low of 7 percent in the first quarter.
That was better than many feared after a woeful trade performance in March, prompting some short-covering, dealers said.
"Trade was lacklustre because of an absence of physical traders in Thailand whom Japanese dealers do business with," a Tokyo-based dealer said.
Thailand's physical rubber market was closed for Songkran water festival holiday.
"After the China data, the TOCOM prices just followed Shanghai futures," he said.
The most-active rubber contract on the Shanghai futures exchange for September delivery rose 55 yuan to finish at 12,645 yuan ($2,038) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for May delivery last traded at 137.6 U.S. cents per kg, down 0.5 cent.
