Japan futures climb on better China data, post weekly gain
Updates closing prices with details
SINGAPORE, Oct 18 (Reuters) -
Japanese rubber futures rose for the second straight session on Friday to end the week higher, buoyed by better-than-expected manufacturing data and new central bank measures from China, although softer overall readings on the top consumer's economy capped gains.
The March Osaka Exchange (OSE) rubber contract JRUc6, 0#2JRU: closed up 9 yen, or 2.33%, at 394.5 yen ($2.63) per kg.
The contract gained 2.1% for theweek.
The January rubber contract on the Shanghai Futures Exchange (SHFE) SNRv1 rose 440 yuan, or 2.46%, to 18,295 yuan ($2,573.03) per metric ton.
The contract was up 1.17% this week.
China's economy grew at the slowest pace since early 2023 in the third quarter and thoughconsumption and factory output figures beat forecasts, a tumbling property sector remains a major challenge for Beijing as it races to revitalise growth.
Authorities have sharply ramped up policy stimulus since late September, but markets are waiting for a clearer roadmap to put the economy back on a solid longer-term footing.
The People's Bank of China (PBOC) on Friday kickedoff two funding schemes and urged swift adoption of financial policies to support capital markets, boosting investor sentiment.
The U.S. dollar forged to the strong side of 150 yen for the first time since early August, but pared some of those gains and last bought 149.92 yen JPY=EBS.
The dollar was helpedby a dovish European Central Bank and strong U.S. data that are pushing out expectations for how fast U.S. ratescan fall, particularly if Donald Trump wins the presidency. USD/
A weaker currency makes yen-denominated assets more affordable to overseas buyers. FRX/
The front-month November rubber contract on Singapore Exchange's SICOM platform STFc1 last traded at 198.6 U.S. cents per kg, up 1.6%.
($1 = 149.9900 yen)
($1 = 7.1103 yuan)
Reporting by Gabrielle Ng; Editing by Sumana Nandy
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