RUBBER-Japanese futures rally on Shanghai gains, lacklustre outlook lingers

* Japanese rubber futures extended gains on Wednesday, tracking a firmer Shanghai market, although traders remain cautious and await more cues from financial markets.
* The Osaka Exchange (OSE) rubber contract for September delivery was up 1.5 yen, or 0.7%, to 206.5 yen ($1.55) per kg, as of 0211 GMT.
* The rubber contract on the Shanghai futures exchange (SHFE) for September delivery rose 50 yuan, or 0.4%, to 11,730 yuan ($1,703.41) per tonne.
* Japan's benchmark Nikkei average opened up 0.22%.
* World Bank Group President David Malpass said on Monday that the lender had revised its 2023 global growth outlook slightly upward to 2% from a January forecast of 1.7%, but the slowdown from stronger 2022 growth will increase debt distress for developing countries.
* However, the International Monetary Fund warned on Tuesday that lurking financial system vulnerabilities could erupt into a new crisis and slam global growth this year, but urged member countries to keep tightening monetary policy to fight persistently high inflation.
* Finance Minister Shunichi Suzuki said that Japan would chair a Group of Seven (G7) financial leaders' meeting on Wednesday in Washington to discuss the global economy and financial markets, the strengthening of supply chains, and the Ukraine crisis.
* Asian equities inched lower on Wednesday ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path, with markets wagering another hike in interest rates at the central bank's next meeting.
* The front-month rubber contract on Singapore Exchange's SICOM platform for May delivery last traded at 133.6 U.S. cents per kg, down 0.4%.
($1 = 133.6000 yen) ($1 = 6.8862 yuan)
(Reporting by Carman Chew; Editing by Sonia Cheema)