Tokyo futures drop, tracking Shanghai market

Benchmark TOCOM rubber futures fell around 1 percent on Tuesday, tracking Shanghai futures that were sluggish overnight as worries over supply continued to ease.

FUNDAMENTALS

* The Tokyo Commodity Exchange rubber contract for August delivery had declined 2.2 yen to 267.8 yen per kg by 0021 GMT, after ending higher for the firsttime in nine sessions on Monday.

* Benchmark Shanghai futures finished overnight trading down 2.2 percent.

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MARKET NEWS

* The U.S. dollar was quoted around 112.71 yen, compared with around 112.20 yen on Monday afternoon.

* Japan's benchmark Nikkei stock average was up 0.8 percent.

* Copper edged higher on Monday as production stoppages at the world's two biggest mines lent support.

* U.S. oil prices were little changed on Tuesday as the prospect for U.S. crude production to continue growing offset reports of high compliance with the OPECproduction cut agreement.

DATA/EVENTS (GMT)

* The following data is expected on Tuesday: (Time in GMT)

- 0745 France Detailed GDP Q4

- 0745 France Producer prices Jan

- 1330 U.S. GDP 2nd estimate Q4

- 1330 U.S. Goods trade balance Jan

- 1400 U.S. S&P/Case-Shiller housing index Dec

- 1500 U.S. Consumer confidence Feb