RUBBER-Tokyo futures hit 3-month high on weaker yen

Reuters

TOKYO, Sept 3 (Reuters) - Key TOCOM rubber futures rosenearly 3 percent on Tuesday to hit a three-month high in earlymorning trade, as the yen held at a one-month low against thedollar.

FUNDAMENTALS

* The key Tokyo Commodity Exchange rubber contract forFebruary delivery was changing hands 6.1 yenhigher at 284.6 yen as of 0036 GMT. The benchmark contract roseas much as 2.9 percent to 286.7 yen, the highest since May 23.

* The safe-haven yen started Asian trade at one-month lowsagainst the dollar on Tuesday, having fallen broadly as freshsigns of a pickup in global manufacturing activity helped liftrisk appetite. A weak yen makes yen-denominated assets moreaffordable when purchased in other currencies.

* A prolonged protest by rubber farmers in Thailand'ssouthern Nakhon Si Thammarat province has disrupted distributionsystems and delayed thousands of tonnes of prompt Thai rubbershipments for up to two weeks, exporters said on Monday.

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

MARKET NEWS

* U.S. crude futures fell in early Asian trade on Tuesday asPresident Barack Obama's efforts to persuade the Congress toback his plan to attack Syria met with skepticism.

* Japan's benchmark Nikkei average opened up 1.29percent at 13,748.68 on Tuesday, while the broader Topix gained 1.38 percent to 1,133.16.

* The U.S. stock market was closed on Monday for the LaborDay holiday.

DATA EVENTS

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

- 0430 Australia RBA cash rate Sep

- 1200 Brazil Industrial output Jul

- 1400 U.S. ISM Manufacturing PMI Aug

- 1400 U.S. Construction spending Jul (Reporting by Osamu Tsukimori; Editing by Richard Pullin)

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