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Japan futures climb on Tokyo equities rally, firmer oil prices



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TOKYO, April 4 (Reuters) -

  • Japanese rubber futures climbed on Thursday, buoyed by a rally in Tokyo stocks and higher oil prices, although trading was subdued with the Shanghai market closed for a holiday.

  • The Osaka Exchange (OSE) rubber contract for September delivery JRUc6, 0#2JRU: was up 1.7 yen, or 0.52%, at 327.5 yen ($2.2) per kg as of 0238 GMT.

  • Oil prices rose in early Asian trade on concerns of lower supply as major producers are keeping output cuts in place and on signs of stronger economic growth in the U.S., the world's biggest oil consumer. O/R

  • Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil.

  • Japan's benchmark Nikkei average .N225 was up 1.5% in early trade. .T

  • The Japanese yen JPY= traded at 151.66 against the dollar, near the levels seen in late Asia trade on Wednesday. FRX/

  • Japan's economic output recovered to full capacity for the first time in about four years in the October-December quarter, a positive sign that may allow the central bank to raise interest rates again.

  • The Shanghai Futures Exchange is closed on April 4 and 5 for the Tomb-Sweeping Day holiday in China.

  • Rubber inventories in warehouses monitored by the Shanghai Futures Exchange rose 0.5% from last Friday, the exchange said on Wednesday.

  • China's central bank will accurately and effectively implement prudent monetary policy, pay more attention to counter-cyclical adjustments and make efforts to expand domestic demand and boost confidence, it said on Wednesday.

  • The return of China's key manufacturing index to positive territory for the first time in six months has sparked optimism that commodity demand from the world's biggest buyer of natural resources is poised to accelerate.

  • The front-month rubber contract on Singapore Exchange's SICOM platform for May delivery STFc1 last traded at 161.6 U.S. cents per kg, down 0.1%.

    ($1 = 151.6800 yen)



Reporting by Yuka Obayashi; Editing by Subhranshu Sahu

For morning and afternoon prices at Thailand's state-run central rubber market, click on RUB-BKK3.
For other physical rubber prices in Thailand, click onRUB-BKK1, RUB-BKK2.
For more details on Indonesian and Malaysian prices click on RURKJK and RUQG.
* Reuters Terminal users can see cash and futures rubber prices by double clicking on the codes in the brackets:

- Tokyo rubber futures -- 0#JRU:
- Shanghai rubber futures -- 0#SNR:
- Singapore rubber futures -- 0#SRS:0#SRU:0#STF:
- Thai rubber futures -- 0#ARU:0#ASR20:
- All rubber news RUB
- Tokyo rubber report RUB/T
- Shanghai rubber report RUB-CN
- Thailand rubber report RUB/TH
- Asian rubber report RUB/AS

For Related News and other topics, double click on one of these codes: SPEED GUIDES RUBBER1, SOFTS/NEWS1
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