TOKYO, May 16 (Reuters) – Key TOCOM rubber futures fell for a second consecutive session on Friday, losing more than 1 percent on a stronger yen, weaker global equities and concerns over a slowing Chinese economy.
FUNDAMENTALS
* The key Tokyo Commodity Exchange rubber contract for October delivery traded 2.8 yen down at 202.2 yen as of 0023 GMT. The benchmark contract fell as low as 201.6 yen, the weakest since May 12.
* Crude rubber inventories at Japanese ports stood at 21,880 tonnes as of May 10, up 0.05 percent from 10 days earlier, data from the Rubber Trade Association of Japan showed on Thursday.
MARKET NEWS
* U.S. stocks fell on Thursday, giving the Dow and the S&P 500 their worst declines in more than a month, as small-cap shares extended their retreat and Wal-Mart results disappointed.
* Against the yen, the greenback plumbed a two-month low of 101.31 before steadying at 101.51.
* Front-month Brent crude futures rose and went off the board on Thursday at the highest settlement since March, while U.S. futures fell, snapping a string of three straight higher settlements.
* Japan’s Nikkei average was down 1.56 percent.
DATA EVENTS
* The following data is expected on Friday: (Time in GMT)
– 0200 China Foreign direct investment Jan-April
– 0900 Euro zone Eurostat trade March
– 1230 U.S.
Housing starts April
– 1230 U.S.
Building permits April
– 1355 U.S. Univ of Michigan sentiment index May
(Reporting by Osamu Tsukimori; Editing by Ed Davies)
– Reuters
