RUBBER-Japan futures advance on soft yen, oil strength

Oct 8 (Reuters) – * Japanese rubber futures climbed on Wednesday, buoyed by a weaker yen and tracking gains in oil and the Nikkei, though cautious sentiment persisted. * The Osaka Exchange (OSE) rubber contract for March delivery was up 3.6 yen, or 1.19%, at 307 yen ($2.01) per kg as of 0231 GMT. * The dollar was up 0.2% against the yen, hovering near the strongest level since February following the weekend election of Sanae Takaichi as Japan's next prime minister. * A weaker currency makes yen-denominated assets more affordable to overseas buyers. * Oil prices rose on fading oversupply concerns after OPEC+ decided to restrain its November production increases. * Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. * Japan's Nikkei increased 0.35%, just shy of the record peak touched in the previous session. * Muted sentiment and the absence of Chinese players kept trading activity subdued, Japan Exchange Group said in a report on Monday. * The Chinese National Day Holiday runs from October 1-8. * Top rubber producer Thailand's meteorological agency warned of heavy rains that may cause flash floods and overflows from October 6-8. * The World Bank lifted its projection for GDP growth in China this year to 4.8%, but cautioned that growth momentum may slow next year, citing low consumer and business confidence and weak new export orders. * A Reuters monthly poll showed business confidence in Japan's auto sector has plunged, after having to contend with U.S. tariffs of 15%. * Automobile sales could influence the intensity of automobile manufacturing, which involves rubber-made tyres. * The front-month rubber contract on Singapore Exchange's SICOM platform for November delivery last traded at 170.6 U.S. cents per kg, up 0.1%. ($1 = 152.5200 yen) (Reporting by Lucas Liew; Editing by Ronojoy Mazumdar)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)