RUBBER-TOCOM climbs on stronger Shanghai, bargain-hunting

TOKYO, Nov 22 (Reuters) - Benchmark Tokyo rubber futures climbed for a second day on Wednesday, backed by stronger Shanghai futures and as investors looked for bargains after an extended decline to a 5-month low that was hit the previous day.

Investors unwound short positions ahead of a national holiday on Thursday in Japan and supported by a rally in Tokyo stock market, dealers said.

Japan's Nikkei share average rose to a near two-week high on Wednesday, buoyed by gains in large-cap stocks, and financial companies as global growth hopes lifted the mood across world markets.

Asian shares joined a global rally to reach their highest in a decade on Wednesday as strong world growth and rising corporate profits lured hordes of investors into equities, while oil prices jumped closer to a recent 2-1/2-year top.

The Tokyo Commodity Exchange (TOCOM) rubber contract for April delivery finished 1.3 yen higher at 191.3 yen ($1.7) per kg. Early on Tuesday, it touched its lowest since June 23 at 187.8 yen.

The most-active rubber contract on the Shanghai futures exchange for January delivery rose 170 yuan to finish at 13,390 yuan ($2,025) per tonne.

The front-month rubber contract on Singapore's SICOM exchange for December delivery last traded at 140.5 U.S. cents per kg, up 1.4 cent. ($1 = 112.0200 yen) ($1 = 6.6125 Chinese yuan) (Reporting by Yuka Obayashi; Editing by Gopakumar Warrier)