TOKYO, July 11 (Reuters) – Key TOCOM rubber futures fell for a third day on Wednesday to their lowest level in more than a week after weak Chinese import data stoked concerns about a slowing global economy.
* The key Tokyo Commodity Exchange rubber contract for December delivery <0#2JRU:> was changing hands 1.3 yen lower, or down 0.5 percent, at 246.4 yen as of 0040 GMT. The benchmark contract fell as low as 245.0 yen, the lowest intraday price since July 3.
* China’s June imports rose at only half the pace expected, data showed on Tuesday, signalling a need for Beijing to do more to bolster growth.
* U.S. stocks fell for a fourth day on Tuesday as more pessimism from U.S. companies compounded worries that the sluggish world economy is taking a toll on U.S. profit growth.
* The euro wallowed around two-year lows against the dollar on Wednesday as investors waited to see if a German court would approve the use of the euro zone’s bailout fund to help contain the region’s debt crisis.
* U.S. crude futures rose on Wednesday to trade above $84, regaining a little ground after falling more than 2 percent a day earlier on the back of an averted oil workers’ strike in Norway and weak China crude import data.
* Jan’s Nikkei share average dropped at Wednesday’s open after more revenue warnings from U.S. companies, including engine maker Cummins Inc, weighed on sentiment already hit by weak global economic data.
* The following data is expected on Wednesday: (Time in GMT)
- 0200 Japan Petroleum Association of Japan oil data w/e
- 1100 US Mortgage market index w/e
- 1230 US International trade May
- 1230 US World agriculture supply/demand report
- 1400 US Wholesale inventories May
- n/a OPEC Monthly Oil Market Report
- 1430 US Energy Information Administration oil dat
eporting by Osamu Tsukimori; Editing by Edmund Klamann)
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