TOKYO (May 1): Benchmark TOCOM rubber futures edged higher on Monday, helped by short-covering, but worries over a supply glut and light trading due to public holidays in many Asian countries kept gains in check.

FUNDAMENTALS

* The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery was up 0.6 yen, or 0.3 percent, at 217.9 yen per kg as of 0043 GMT, after posting its first weekly gain in six weeks.

* Rubber inventories at TOCOM warehouses <JRU-WRHSTX-TOT> as of April 20 stood at 1,256 tonnes, slightly up from 1,249 of April 10, but down about four-fifths from a year earlier, according to the exchange.

* Markets are closed for a public holiday in many parts of Asia including China, Hong Kong, the Philippines, Indonesia, India, Singapore, Malaysia, Taiwan, Thailand and Vietnam.

*Japanese markets will be closed from Wednesday to Friday for Golden Week holidays.