* Japanese rubber futures rose on Thursday, as the U.S.
Federal
Reserve sought to calm markets with a shift in tone, but a
stronger yen and lower oil prices weighed.
* The Osaka Exchange (OSE) rubber contract for August
delivery was up 2.1 yen, or 1.0%, at 206.5 yen ($1.58)
per kg as of 0207 GMT.
* The rubber contract on the Shanghai futures exchange
(SHFE) for
May delivery was down 20 yuan, or 0.17%, at 11,705 yuan
($1,707.99) per tonne.
* Japan's benchmark Nikkei average opened down
0.85%.
* The Fed raised its benchmark funds rate by 25 basis
points, as
expected, but dropped language about "ongoing increases" being
needed in favour of "some additional" rises, as it waits and
watches how wobbling confidence in banks affects the economy.
* Big Japanese manufacturers remained pessimistic about
business
conditions for a third straight month in March, the closely
watched Reuters Tankan survey showed, reflecting worry about
slowing global growth that could hurt the country's export
engine.
* The Japanese yen rose 0.43% against the dollar to
130.90,
as of 0208 GMT.
* A stronger yen makes yen-denominated assets less
affordable when
purchased in other currencies.
* Oil prices fell following three sessions of gains.
* Lower oil prices incentivise manufacturers to shift to
synthetic
rubber derived from oil, hindering the natural rubber market.
* Asian shares inched higher, after the Fed hinted it could
pause
future interest rate hikes in the wake of turmoil in financial
markets even as the central bank reiterated its commitment to
fight sticky inflation.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 131.2 U.S.
cents per kg, up 0.70%.
($1 = 130.9000 yen)
($1 = 6.8531 yuan )
(Reporting by Carman Chew; Editing by Rashmi Aich)
SINGAPORE, March 23 (Reuters) -
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