* Japanese rubber futures inched higher on Wednesday, lifted
by
stronger crude prices, although traders remain cautious amid a
slowing global economy.
* Osaka Exchange's rubber contract for September delivery finished 0.5 yen, or 0.2%, higher at 211.0 yen ($1.61)
per kg.
* The Shanghai futures exchange (SHFE) is closed for the
Qingming
Festival and trading will resume on Thursday.
* Japan's benchmark Nikkei average closed 1.68%.
* Sluggish global outlook coupled with weak demand in China
contributed to the price drop this week, a Singapore-based
trader said.
* "Gains today were probably just a small retracement up
from the
market and wintering factors, but overall the market remains
bearish," he added.
* Federal Reserve Bank of Cleveland President Loretta Mester
said
on Tuesday the U.S. central bank likely has more interest rate
rises ahead amid signs that the recent banking sector troubles
have been contained.
* Still, oil prices rose on Wednesday, boosted by
expectations of
U.S. crude inventory declines as well as the latest output cut
targets set by the OPEC+ producer alliance.
* 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.
* Stocks struggled to make headway on Wednesday, the dollar
nursed
losses and bonds clung to gains, as signs of a slowing U.S.
labour market made investors nervous about the economic outlook,
while a bigger-than-expected rate hike lifted the kiwi dollar.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for April delivery last traded at 134.4 U.S.
cents per kg, up 0.2%.
($1 = 131.4600 yen)
(Reporting by Carman Chew)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
* Reuters Terminal users can see cash and futures rubber prices by double clicking on the codes in the brackets: - Tokyo rubber futures -- - Shanghai rubber futures -- - Singapore rubber futures -- - Thai rubber futures -- - All rubber news - Tokyo rubber report - Shanghai rubber report - Thailand rubber report - Asian rubber report For Related News and other topics, double click on one of these codes: SPEED GUIDES ))
