RUBBER-Japan futures track Shanghai market lower, soft oil prices add pressure

TOKYO, Sept 30 (Reuters) – * Japanese rubber futures eased on Tuesday, extending the previous day's losses, as a softer Shanghai market amid concerns over a sluggish economy in top buyer China weighed on sentiment, while falling oil prices also added pressure. * The Osaka Exchange (OSE) rubber contract for March delivery was down 1.8 yen, or 0.59%, at 304.0 yen ($2.0) per kg, as of 0216 GMT. * The rubber contract on the Shanghai Futures Exchange (SHFE) for January delivery fell 215 yuan, or 1.4%, to 15,125 yuan ($2,123) per metric ton. * China's purchasing managers' index (PMI) rose to 49.8 in September versus 49.4 in August, below the 50-mark separating growth from contraction. It suggested producers are waiting for further stimulus to boost domestic demand, as well as clarity on a U.S. trade deal. * Oil prices fell on Tuesday as another anticipated production increase by OPEC+ and the resumption of oil exports from Iraq's Kurdistan region via Turkey reinforced the outlook for a looming supply surplus. * Natural rubber often takes direction from oil prices as it competes for market share with synthetic rubber, which is made from crude oil. * The yen traded at 148.66 against the U.S. dollar, compared with around 148.76 in late Asia trade on Monday. A stronger Japanese currency makes yen-denominated assets less affordable to overseas buyers. * The dollar was on the back foot in cautious trading as investors braced for a possible U.S. government shutdown that would halt economic data releases including the crucial jobs report later this week. * Japan's Nikkei was down 0.1% in early Tuesday trade. * The front-month rubber contract on Singapore Exchange's SICOM platform for October delivery last traded at 171.0 U.S. cents per kg, down 1.1%. ($1 = 148.6900 yen) ($1 = 7.1245 Chinese yuan) (Reporting by Yuka Obayashi; Editing by Subhranshu Sahu)

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