* Japanese rubber futures posted a seventh decline in eight
days
on Tuesday, as oil prices slid and investor confidence took a
hit amid looming fears of a U.S. banking crisis and caution
ahead of inflation data due later in the day.
* Osaka Exchange's rubber contract for August delivery finished 2.7 yen, or 1.2%, lower at 215.0 yen ($1.61)
per kg.
* Earlier in the session, the benchmark contract hit 214.0
yen,
its lowest since Nov. 30.
* The rubber contract on the Shanghai futures exchange for
May
delivery finished flat at 11,955 yuan ($1,741.57) per
tonne.
* Japan's benchmark Nikkei share average closed
2.19%
lower.
* Japanese banking shares on Tuesday tumbled the most since
the
onset of the COVID-19 pandemic, dragging the Nikkei share
average down more than 2%, as investors tried to gauge the
fallout from the collapse of two U.S. lenders.
* The market has "no confidence in demand short
term" as
pressure from the rate hike is expected to slow the U.S.
economy, a big market for rubber consumption, said a
Singapore-based trader.
* The Japanese yen softened 0.19% to 133.44 per
dollar, as
of 0704 GMT.
* A weaker yen makes yen-denominated assets more affordable
when
purchased in other currencies.
* Oil prices fell more than $1 on Tuesday, extending the
previous
day's slide, as the collapse of Silicon Valley Bank rattled
equities markets and sparked fear about a fresh financial
crisis.
* Lower oil prices incentivise manufacturers to shift to
synthetic
rubber derived from oil, hindering the natural rubber market.
* Asia's share markets slid on Tuesday, with financial
stocks in
Tokyo leading losses as fear of a U.S. banking crisis had
investors fleeing the sector and slashing the interest rate
outlook even ahead of U.S. inflation data due later in the day.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 133.0 U.S.
cents per kg, up 0.5%.
($1 = 133.5300 yen)
($1 = 6.8645 yuan)
(Reporting by Carman Chew; Editing by Varun H K)
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