RUBBER-Tokyo futures head for weekly fall of about 2 pct

Reuters

TOKYO, Sept 27 (Reuters) - Key TOCOM rubber futures inchedup in light early trade on Friday, mirroring limited moves bythe yen and Nikkei, but prices were headed for their secondweekly fall out of three.

FUNDAMENTALS

* The key Tokyo Commodity Exchange rubber contract for Marchdelivery was up 0.1 yen, or 0.04 percent, at 277.8 yen as of 0035 GMT.

* Contracts to buy previously owned U.S. homes fell for thethird straight month in August but fewer Americans filed newclaims for jobless benefits last week, giving conflictingsignals on the health of the economy.

* China will allow banks to price loans based onmarket-based benchmark rates and will allow banks to launchcertificates of deposit soon to pave the way for liberalisingbank deposit rates, the central bank said on Thursday.

* Nine companies based in Japan and two executives haveagreed to plead guilty and to pay almost $745 million in finesfor their roles in long-running conspiracies to fix the pricesof auto parts sold to U.S. car manufacturers, the Department ofJustice said on Thursday.

* For the top stories in rubber market and other news, click, or

MARKET NEWS

* The S&P 500 and Dow snapped five-day losing streaks onThursday on positive job market data but gains were limited asinvestors worried if Washington lawmakers would pass bills toavoid a government shutdown and possible U.S. debt default ontime.

* The dollar held onto modest overnight gains in Asia onFriday but was on track to end the week flat, hampered by thethreat of a historic U.S. debt default hanging in the air andlack of clarity over when the Federal Reserve will scale backstimulus.

* Oil prices firmed on Thursday in light trading, despiteeasing political worries and an improving supply picture, astraders sought bargains after sharp losses earlier this month.

* Japan's benchmark Nikkei average were up 0.02percent at 14,802.52 in early trade on Friday, while the broaderTopix was also flat.

DATA EVENTS

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

- 0645 France Consumer spending

- 0800 Italy Business confidence

- 0900 Euro zone Economic sentiment

- 1200 Germany Consumer inflation

- 1230 U.S.

Personal income (Reporting by Yuka Obayashi; Editing by Ed Davies)

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