* Japanese rubber futures slipped on Monday, as losses in the Shanghai market, domestic equities and crude prices weighed on sentiment, although a weaker yen capped further decline.
* Osaka Exchange's rubber contract for July delivery finished 1.9 yen, or 0.9%, lower at 222.6 yen ($1.68)
per kg, hitting its lowest since Jan. 16.
* The rubber contract on the Shanghai futures exchange for
May
delivery fell 80 yuan to finish at 12,540 yuan ($1,836)
per tonne.
* Japan's benchmark Nikkei share average closed down
0.88%.
* "Rubber futures are likely to trade range-bound this week,
and
prices should move towards the technical support levels before
buying starts up again," a Singapore-based trader said.
* Rubber markets are waiting for signs of a demand pick-up
in top
buyer China after the country lifted its strict COVID-19 curbs
at the end of 2022.
* Oil prices eased on Monday after rising 2% in the previous
session, as investors focused on short-term demand concerns
stemming from crucial upcoming U.S. inflation data and refinery
maintenance in Asia and the United States.
* The natural rubber market is hindered by weaker oil
prices, as
manufacturers are disincentivised from shifting away from
synthetic rubber that is derived from oil, driving natural
rubber prices lower.
* The U.S. currency rallied 0.67% to as high as 132.30 yen .
* A weaker yen makes yen-denominated assets more affordable
when
purchased in other currencies.
* Asian shares slid and the dollar rose, as investors
hunkered
down for U.S. inflation data that could jolt the outlook for
interest rates globally, while accelerating or reversing the
recent spike in bond yields.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for March delivery last traded at 136.7 U.S.
cents per kg, down 0.6%.
($1 = 132.3000 yen)
($1 = 6.8291 yuan)
(Reporting by Matthew Chye; Editing by Rashmi Aich)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
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