Japan futures fall on stronger yen, Toyota's falling exports
Updates with closing prices
SINGAPORE, Nov 28 (Reuters) -
Japanese rubber futures inched lower onThursday on astronger yen and as lower exportfigures from Toyota Motor, Japan'sbiggest listed company,weighed on investorsentiment.
The Osaka Exchange (OSE) rubber contract for May delivery JRUc6, 0#2JRU: closed down 0.8 yen, or 0.22%, at 367.1 yen($2.42) per kg.
The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery SNRv1 closed up 405 yuan, or 2.29%, to 18,125 yuan($2,500.28) per metric ton.
The most active January butadiene rubber contract on the SHFE SHBRv1 closed up 90 yuan, or 0.7%, to 12,910 yuan ($1,780.89) per metric ton.
The yen has rallied sharply for two days, rising through its 200-day moving average to 151.50 per dollar JPY=EBS.USD/
A stronger currency makes yen-denominated assets less affordable to overseas buyers. FRX/
Oil prices drifted lower on Thursday after a surprise jump in U.S. gasoline inventories, with investors focusing on the OPEC+ meeting this weekend to discuss oil output policy.O/R
Natural rubber often takes direction from oil as it competes for market share with synthetic rubber, which is made from crude oil.
Top rubber producer Thailand's meteorological agency warned of heavy rains that may cause flash floods from Nov. 28-Dec. 4.
Ahead of U.S. President-elect Donald Trump's pledge to slap additional tariffs on Chinese goods, Chinese autoshares declined after media reports said that BYD and other automakers pushed suppliers to cut prices, signalling a brutal price war in the world's largest auto market is set to escalate.
Toyota Motor's 7203.T global output dropped for a ninth consecutive month in October, dragged lower by big falls in production in the U.S. andChina.
Vehicle sales could influence the intensity of automobile manufacturing, which involves using rubber-made tyres.
The front-month rubber contract on Singapore Exchange's SICOM platform for December delivery STFc1 last traded at 192 U.S. cents per kg, up 1.2%.
($1 = 151.6200 yen)
($1 = 7.2492 yuan)
Reporting by Haridas; Editing by Sumana Nandy and Sonia Cheema
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