April 26, 2019 / 12:40 AM / a month ago

RUBBER-Tokyo futures slip on position adjustment ahead of long holiday

TOKYO, April 26 (Reuters) -

* The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract, for October delivery , inched lower as investors adjusted positions ahead of holidays which will see most Japanese markets shut for six whole trading days.

* It was down 0.2 yen, or 0.1 percent, at 190.8 yen ($1.7) per kg as of 0018 GM, but heading for a weekly gain of about 1.2 percent.

* Japanese markets will be shut from April 29 to May 6, easily the longest break in modern times, to celebrate Crown Prince Naruhito’s enthronement as the next emperor.

* Key Shanghai futures ended overnight trading up 0.2 percent at 11,510 yuan ($1,707) per tonne

* U.S. President Donald Trump said on Thursday he would soon host Chinese leader Xi Jinping at the White House, setting the stage for a possible agreement on trade between the world’s two largest economies.

* Ford Motor Co on Thursday posted a better-than-expected first quarter largely due to strong pickup truck sales in its core U.S. market and said it was more confident in its forecast 2019 would bring better results than last year.

* The U.S. dollar was quoted around 111.47 yen, compared with about 111.93 yen on Thursday afternoon

* Oil prices eased after Brent touched $75 per barrel on Thursday for the first time in nearly six months on the suspension of some Russian crude exports to Europe as investors second-guessed the market’s ability to rally further.

* Japan’s benchmark Nikkei stock average opened down 0.63 percent at 22,167.48 on Friday, after Wall Street ended Thursday mixed following a raft of earnings reports.

* TOCOM’s technically specified rubber (TSR) 20 futures contract for new November delivery was steady at an opening price of 169.0 yen per kg.

* The front-month rubber contract on Singapore’s SICOM exchange, for May delivery, settled at 151.3 U.S. cents per kg on Thursday, up 0.2 percent from the previous session ($1 = 6.7418 Chinese yuan renminbi) ($1 = 111.4800 yen) (Reporting by Yuka Obayashi; Editing by Joseph Radford)

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