RUBBER-Japanese futures track shares higher; head for weekly and monthly loss

* Japanese rubber futures rose on Friday, tracking strength in the domestic share market, although recession fears spurred by weak U.S. economic data weighed on sentiment.
* The Osaka Exchange (OSE) rubber contract for October delivery was up 1.9 yen, or 0.9%, at 209.6 yen ($1.56) per kg as of 0210 GMT.
* The benchmark contract is set to post its first weekly drop in three, down 0.5% for the week, and headed for its third monthly decline, contracting about 0.4%.
* The rubber contract on the Shanghai futures exchange (SHFE) for September delivery was down 50 yuan, or 0.5%, at 11,795 yuan ($1,706.08) per tonne.
* Japan's benchmark Nikkei average opened up 0.87%.
* Brazil's government said on Thursday it could not interfere with a landmark European Union (EU) law banning imports of commodities linked to deforestation, but will keep farming according to its own laws.
* U.S. economic growth slowed more than expected in the first quarter as an acceleration in consumer spending was offset by businesses liquidating inventories in anticipation of weaker demand later this year amid higher borrowing costs.
* Still, core consumer inflation in Japan's capital, Tokyo, beat expectations in April and an index stripping away fuel costs rose at the fastest pace in four decades, highlighting the challenge the new central bank chief faces in keeping ultra-low interest rates.
* Asian stocks rallied as strong corporate earnings helped lift sentiment even as worries over economic weakness lingered, while investors were also waiting for a policy decision from the Bank of Japan.
* The front-month rubber contract on Singapore Exchange's SICOM platform for May delivery last traded at 133.4 U.S. cents per kg. ($1 = 134.1600 yen) ($1 = 6.9135 yuan) (Reporting by Carman Chew; Editing by Rashmi Aich)