TOKYO, Oct 29 (Reuters) – Key TOCOM rubber futures rose to a one-week high early on Monday on expectations that the Bank of Japan will deliver more economic stimulus when it meets on Tuesday.
* The key Tokyo Commodity Exchange rubber contract for April delivery was up 1.2 percent, or 3.2 yen, at 262.7 yen per kg as of 0100 GMT. The benchmark contract earlier rose as far as 264.5 yen, up 1.9 percent, the highest since Oct. 19.
* The BOJ is likely to expand its asset-purchase programme by at least 10 trillion yen ($125.69 billion) on Tuesday in a bid to spur an economy teetering on the verge of recession.
MARKET NEWS
* Japan’s Nikkei share average edged up in early Monday trade, while the yen got off to a steady start ahead of the BOJ policy meeting.
* U.S. crude futures slipped below $86 a barrel on Monday as refineries along the East Coast lowered run rates ahead of approaching Hurricane Sandy, reducing crude use in the world’s largest oil consumer.
DATA EVENTS
* The following data is expected on Monday:
– 1230 U.S. Personal income Sep
– 1230 Chicago Fed Midwest Manufacturing index Sep
– 1430 Dallas Fed Texas Manufacturing index Oct
(Reporting by Yuko Inoue; Editing by Joseph Radford)
Source: Reuters
