* Japanese rubber futures rose for the first time in 11 days
on
Friday, as governments sought to bolster investor confidence
amid global monetary tightening policies and banking turmoil.
* The Osaka Exchange (OSE) rubber contract for August
delivery was up 1.2 yen, or 0.6%, at 209.1 yen ($1.57)
per kg as of 0202 GMT.
* The benchmark OSE contract is headed for its second weekly
loss,
down 4.6%.
* The rubber contract on the Shanghai futures exchange
(SHFE) for
May delivery was down 25 yuan, or 0.21%, at 11,705 yuan
($1,697.98) per tonne.
* Japan's benchmark Nikkei share average opened up
0.82%.
* Japan posted two straight years of export gains in
February, led
by solid U.S.-bound shipments of cars, although expectations of
a strong demand recovery are quickly fading amid global monetary
tightening and banking concerns.
* Japan is closely coordinating with the Bank of Japan and
financial authorities overseas to prevent fallout from the
crisis of confidence engulfing banks in the West, Finance
Minister Shunichi Suzuki said.
* With the bulk of relevant economic data released ahead of
their
policy meeting next week, U.S. central bankers are seen pressing
on with their inflation-fighting campaign with a quarter-point
interest-rate hike that just days ago looked possibly derailed
by turmoil in the banking sector.
* The European Central Bank also raised interest rates by 50
basis
points on Thursday.
* Asian markets extended a risk rally on Wall Street, after
a
tumultuous week that saw a brewing banking crisis plunged bond
yields globally and markets sharply revised down the
expectations of future rate hikes in developed world.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 130.0 U.S.
cents per kg, up 0.5%.
($1 = 133.3400 yen)
($1 = 6.8935 yuan)
(Reporting by Carman Chew; Editing by Rashmi Aich)
SINGAPORE, March 17 (Reuters) -
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