TOKYO, Sept 30 (Reuters) – Benchmark TOCOM rubber futures fell 2 percent in early Friday trade as a stronger yen and sluggish Shanghai futures weighed on the market.
FUNDAMENTALS
The Tokyo Commodity Exchange rubber contract for March delivery JRUc6 0#2JRU: fell 3.2 yen to 163.6 yen per kg by 0042 GMT, after settling up 2.2 yen on Thursday. The contract is on course for a weekly decline of around 3 percent.
Shanghai futures ended lower in night trading on Thursday.
MARKET NEWS
The U.S. dollar was quoted around 101.04 yen JPY= , compared with around 101.75 yen on Thursday afternoon. USD/
Japan’s benchmark Nikkei stock average .N225 was down 1.7 percent. MKTS/GLOB
Oil prices dropped on Friday on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC’s first planned output cut in eight years would make a substantial dent in the global crude glut.
DATA/EVENTS (GMT)
The following data is expected on Friday: (Time in GMT)
0145 China Caixin manufacturing PMI final Sep
0600 Germany Retail sales Aug
0900 Euro zone Inflation flash Sep
0900 Euro zone Unemployment rate Aug
1230 U.S. Personal income Aug
1345 U.S. Chicago PMI Sep
(Reporting by Osamu Tsukimori; Editing by Michael Perry)
