* Japanese rubber futures crept up for a third session on
Tuesday
amid concern over tighter inventories, though long-term demand
fears capped gains.
* Osaka Exchange's rubber contract for September delivery finished 0.2 yen, or 0.1%, higher at 211.0 yen ($1.57)
per kg.
* The rubber contract on the Shanghai futures exchange for
September delivery rose 95 yuan to finish at 11,905 yuan
($1,732.27) per tonne.
* Japan's benchmark Nikkei average closed 0.51% up.
* China's economy grew 4.5% year on year in the first
quarter,
official data showed on Tuesday, as policymakers moved to
bolster growth after the end of strict COVID-19 curbs in
December.
* China's industrial output in March rose 3.9% year on year,
accelerating from a 2.4% increase in the first two months of the
year but slightly behind expectations.
* Rubber's recent uptrend was driven by speculation that hot
weather could hamper supply, a Singapore-based trader said,
adding that the Chinese data seemed in line with predictions
that slow economic recovery "will remain an issue".
* Combined with the potential recession predicted by the
U.S.
Federal Reserve and data showing a U.S. consumer slowdown,
overall the market lacks clear direction and any significant
rally could come under pressure as wintering comes to an end in
Thailand, Vietnam and Africa, the trader added.
* Asian stocks weakened on Tuesday as the signs of
patchiness in
the country's economic recovery weighed on investor sentiment.
* The front-month rubber contract on Singapore Exchange's
SICOM
platform for May delivery last traded flat at 137.4 U.S.
cents per kg.
($1 = 134.3500 yen)
($1 = 6.8725 yuan)
(Reporting by Carman Chew
Editing by David Goodman
)
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