* Japanese rubber futures edged lower on Thursday, as a firmer yen and falling oil prices dragged the market, while traders braced themselves for more volatility after Federal Reserve Chair Jerome Powell on Wednesday said the banking industry stress could trigger a credit crunch
* Osaka Exchange's rubber contract for August delivery finished 0.3 yen, or 0.2%, lower at 204.1 yen ($1.56)
per kg.
* The rubber contract on the Shanghai futures exchange for
May
delivery fell 15 yuan to finish at 11,675 yuan
($1,711.43) per tonne.
* Japan's benchmark Nikkei average closed down
0.17%.
* "The market was up earlier because the banking
crisis
had seemed under control," said a Singapore-based trader. "But
the sell-off in U.S. equities, plus the Fed admitting the next
crisis could be a
credit crisis , indicates that storms are still ahead."
* 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 strengthened 0.45% against the
dollar to
130.83, as of 0701 GMT.
* A stronger yen makes yen-denominated assets less
affordable when
purchased in other currencies.
* Oil prices fell on Thursday following three sessions of
gains,
after Federal Reserve Chair Jerome Powell highlighted banking
sector credit risks for the world's largest economy, while U.S.
crude stocks rose more than expected.
* Lower oil prices incentivise manufacturers to shift to
synthetic
rubber derived from oil, hindering the natural rubber market.
* Asian shares spiked on Thursday and the dollar slid after
the
U.S. Federal Reserve hinted it could pause interest rate rises
following turmoil in the banking sector, though it also
reiterated its commitment to fighting sticky inflation.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 130.5 U.S.
cents per kg, up 0.20%.
($1 = 130.7700 yen)
($1 = 6.8218 yuan)
(Reporting by Carman Chew; Editing by Nivedita Bhattacharjee)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
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