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Tokyo futures slip amid concerns over U.S.-China trade war on May 14

The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery slipped more than 1% on Tuesday amid fears that commodities' demand may drop due to an escalation in the U.S.-China trade war.

It was down 2.2 yen, or 1.2%, at 185.1 yen ($1.69) per kg as of 0033 GMT.

Key Shanghai futures ended overnight trading down 0.6% at 11,735 yuan ($1,707) per tonne

China said it would impose higher tariffs on a range of U.S. goods, striking back in its trade war with Washington shortly after President Donald Trump warned it not to retaliate in the long-running trade dispute between the world's two biggest economies. Trump said he would meet with Chinese President Xi Jinping next month.

Vehicles sales in China, the world's largest auto market, fell 14.6% in April from the same month a year earlier, the country's biggest auto industry association said on Monday, marking the 10th consecutive month of decline.

Japan's benchmark Nikkei stock average fell 2% on Tuesday, after Wall Street sank the previous day as China defied Washington by announcing retaliatory tariffs, sending investors scouting for less risky assets.

Oil futures fell on Monday with Wall Street, as the negative turn in the U.S.-Chinese trade talks spooked investors, who had sent oil higher in early trade on concerns about reports of sabotage attacks on tankers in the Middle East that could disrupt supplies.

The U.S. dollar quoted around 109.21 yen, compared with around 109.73 yen on Monday afternoon

TOCOM's technically specified rubber (TSR) 20 futures contract for November delivery was down 0.3% at 161.8 yen per kg

The front-month rubber contract on Singapore's SICOM exchange for June delivery settled at 149.5 U.S. cents per kg on Monday, up 0.1% from the previous session.