* Japanese rubber futures slid on Thursday as recession
fears and
dipping oil prices weighed but the market remains in limbo,
watching financial regulators' next moves closely.
* Osaka Exchange's rubber contract for September delivery finished 4.5 yen, or 2.1%, lower at 209.8 yen ($1.60)
per kg, reversing gains in the previous session.
* The rubber contract on the Shanghai futures exchange for
September delivery fell 145 yuan to finish at 11,660
yuan ($1,694.94) per tonne.
* Japan's benchmark Nikkei average closed 1.22%
lower.
* "The market is stable but lacking direction," said
a
Singapore-based trader. "Recent
ISM statistics indicate a slowdown in the U.S. economy. Tonight's non-farm payrolls (NFP) report will be crucial in determining the future (moves) of the Federal Reserve."
* "While the Chinese economy is recovering,
data suggests work is still in progress."
* japan's economic output ran below full capacity for the
11th
straight quarter in October-December, Bank of Japan (BOJ) data
showed on Wednesday, suggesting that conditions for ending
ultra-low interest rates have yet to fall into place.
* "BOJ policy changes, if any, would only mean a
stronger
yen and hence, lower rubber prices," the trader said.
* Oil fell on Thursday as weak U.S. economic data raised
concerns
over a potential global recession and demand reduction, but
benchmark prices were headed for a weekly advance after OPEC+
announced further output cuts and U.S. oil stocks dropped.
* Lower oil prices incentivise manufacturers to shift to
synthetic
rubber derived from oil, pressuring the natural rubber market.
* Asian stocks and U.S. equity futures sank on Thursday
while
bonds and the safe-haven U.S. dollar and Japanese yen were bid
as mounting evidence of a U.S. slowdown fuelled worries about a
possible global recession.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for May delivery last traded at 134.8 U.S.
cents per kg, down 0.7%.
($1 = 131.3300 yen)
($1 = 6.8793 yuan)
(Reporting by Carman Chew; Editing by Savio D'Souza)
For other physical rubber prices in Thailand, click on . For more details on Indonesian and Malaysian prices click on and .
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