RUBBER-Japan futures track Shanghai prices lower

Reuters03-28

TOKYO, March 28 (Reuters) -

* Japanese rubber futures slipped on Thursday, tracking weaker Shanghai prices, while a decline in Tokyo stocks also weighed on investor sentiment.

* The Osaka Exchange (OSE) rubber contract for September delivery

was down 2.7 yen, or 0.84%, at 318.5 yen ($2.1) per kg as of 0203 GMT.

* The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery was down 165 yuan, or 1.13%, at 14,405 yuan ($1,993) per metric ton.

* Japan's benchmark Nikkei average was down 1.2% on Thursday.

* The yen was holding its ground against the U.S. dollar after Japan's top monetary officials on Wednesday suggested they were ready to intervene. The yen hit a 34-year-low on Wednesday. A stronger yen makes yen-denominated assets less affordable to overseas buyers.

* Chinese electric vehicle maker BYD has set a 3.6- million-unit sales target for 2024, a jump of 20% from its record-breaking sales last year, according to three people who were familiar with the matter.

* The front-month rubber contract on Singapore Exchange's SICOM platform for April delivery last traded at 158.9 U.S. cents per kg, down 0.9%. ($1 = 151.3500 yen) ($1 = 7.2271 Chinese yuan)

(Reporting by Yuka Obayashi; Editing by Subhranshu Sahu)

((Yuka.Obayashi@thomsonreuters.com; +813-4520-1265;))

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