* Japanese rubber futures fell for a fourth straight session
on
Wednesday, as a contraction in domestic factory activity dented
demand sentiment, while losses in the Shanghai market also
weighed.
* The Osaka Exchange's rubber contract for July delivery finished 3.3 yen, or 1.4%, lower at 229.0 yen ($1.76)
per kg.
* The rubber contract on the Shanghai futures exchange for
May
delivery fell 90 yuan to finish at 13,180 yuan ($1,954)
per tonne.
* Japan's benchmark Nikkei share average closed up
0.07%.
* "While the factory activity data coming out of Japan and
China
shows slight signs of improvement, there still isn't enough
evidence to calm long-existing fears of a global recession,"
said a Singapore-based trader.
* Japan's factory activity contracted for a third straight
month
in January, a private survey showed, although manufacturers'
outlook remained upbeat on improved supply and price conditions.
* Demand sentiment in the rubber market has been positive
lately
following China's relaxation of its strict COVID curbs, which
had dampened consumption and industrial activity since the start
of the pandemic.
* China's factory activity shrank more slowly in January
than in
the previous month thanks to the end of the country's zero-COVID
policy, though infections among workers still hampered
production, a private sector survey showed.
* The data was in contrast to a better-than-expected survey
on
Tuesday, with the official purchasing managers' index (PMI)
showing economic activity swinging back to growth in January,
according to China's National Bureau of Statistics (NBS).
* Asia's stock markets steadied, with signs of a slowdown in
U.S.
wages bolstering hopes that the Federal Reserve could hint at an
end to interest rate hikes at its meeting later in the day.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for March delivery last traded at 145.2 U.S.
cents per kg, down 0.3%.
($1 = 130.2200 yen)
($1 = 6.7458 yuan)
(Reporting by Matthew Chye; Editing by Subhranshu Sahu)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
* Reuters Terminal users can see cash and futures rubber prices by double clicking on the codes in the brackets: - Tokyo rubber futures -- - Shanghai rubber futures -- - Singapore rubber futures -- - Thai rubber futures -- - All rubber news - Tokyo rubber report - Shanghai rubber report - Thailand rubber report - Asian rubber report For Related News and other topics, double click on one of these codes: SPEED GUIDES ))
