TOKYO, Sept 5 (Reuters) - Benchmark Tokyo rubber futures closed up 0.8 percent on Thursday, on support from a weaker yen and hopes of global economic recovery.
The benchmark rubber contract on the Tokyo Commodity Exchange (TOCOM) for February delivery rose 2.2 yen to settle at 283.6 yen ($2.85) per kg.
The contract hit 287.9 yen during trade on Wednesday, its highest level since May 23, driven up by a weaker yen. The contract is currently up 5.4 percent for the week.
"With funds increasing their long positions, the losses in the morning had been limited, until the market got support from a weak yen in the afternoon," a Tokyo-based broker said.
The market also awaited U.S. labor market data, with the ADP private-sector jobs number due out Thursday and the government employment report on Friday, the broker added. The data will likely help determine whether the Federal Reserve will start reducing its stimulus at its Sept. 17-18 meeting.
The yen was stuck near a one-month low against the dollar, after investors unwound their safe-haven buying, spurred by concerns over U.S. plans to attack Syria.
The Bank of Japan kept monetary policy steady on Thursday and revised up its assessment of the economy, encouraged by growing signs the benefits of its stimulus policy are broadening.
The most-active rubber contract on the Shanghai futures exchange for January delivery rose 65 yuan to finish at 20,795 yuan ($3,400) per tonne.
The front-month rubber contract on Singapore's SICOM exchange for October delivery last traded at 249.80 U.S. cents per kg, up 1.0 cent. ($1 = 99.5350 Japanese yen) ($1 = 6.1201 Chinese yuan) (Reporting by Osamu Tsukimori; Editing by Sunil Nair)