* Japanese rubber futures opened higher on Tuesday,
supported by
gains in oil prices amid supply concerns, while a weaker yen
also lent some support.
* The Osaka Exchange (OSE) rubber contract for August
delivery was up 2.1 yen, or 0.9%, at 227.1 yen ($1.67)
per kg, as of 0212 GMT.
* The rubber contract on the Shanghai Futures Exchange
(SHFE) for
May delivery was up 5 yuan, or 0.04%, at 12,470 yuan
($1,797.81) per tonne.
* Japan's benchmark Nikkei average opened down
0.12%.
* Oil prices edged up after industry executives flagged
concerns
about limited spare capacity in the market and uncertainty over
Russian supplies while demand from top crude importer China is
recovering.
* The natural rubber market is helped by stronger oil prices
as
manufacturers are incentivised to shift away from synthetic
rubber that is derived from oil, driving natural rubber prices
higher.
* The Japanese yen slipped ahead of the final
policy
meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday
and Friday.
* A weaker yen makes yen-denominated assets more affordable
when
purchased in other currencies.
* Asian financial markets were little changed as investors
awaited
a congressional testimony from Federal Reserve chairman Jerome
Powell due to start later in the day for clues on the central
bank's next move on interest rates.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 139.00 U.S.
cents per kg, down 0.2%.
($1 = 135.9400 yen)
($1 = 6.9362 yuan)
(Reporting by Carman Chew; Editing by Subhranshu Sahu)
SINGAPORE, March 7 (Reuters) -
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