RUBBER-Japan futures rebound on softer yen

Oct 6 (Reuters) – * Japanese rubber futures rebounded after a six-session losing streak on Monday, as a weaker yen fuelled gains. * The Osaka Exchange (OSE) rubber contract for March delivery rose 4.5 yen, or 1.51%, to 302.2 yen ($2.02) per kg as of 0228 GMT. * The yen tumbled 1.5% against the dollar to 149.73 yen, the biggest one-day percentage drop in five months, after Sanae Takaichi won the LDP leadership election, setting the country on course for more expansionary fiscal policy. * A weaker currency makes yen-denominated assets more affordable to overseas buyers. * Japan's Nikkei gained as much as 4.3% to an all-time high on news of the leadership vote. * Oil prices rose around 1% in early trade on Monday after a lower-than-expected OPEC+ output hike. * Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. * Trading activity was subdued last week, with prices moving in a narrow range due to muted sentiment and the absence of Chinese market players in light of the Chinese National Day holiday, the Japan Exchange Group said on Monday. * Top rubber producer Thailand's meteorological agency warned of heavy rains and accumulations that may cause flash floods and overflows from October 5-7. * China's Chery is in talks with several South African automakers about sharing manufacturing plants to produce its vehicles. * In 2021, the largest car-producing nation in Africa had launched a plan to boost annual vehicle production from an average of 600,000 to 1.4 million by 2035, while increasing local content by attracting more manufacturers. * Automobile sales could influence the intensity of vehicle manufacturing, which involves using rubber-made tyres. * The front-month rubber contract on the Singapore Exchange's SICOM platform for November delivery last traded at 171.3 U.S. cents per kg, up 0.2%. ($1 = 149.8400 yen) (Reporting by Lucas Liew; Editing by Sumana Nandy)

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