December 15, 2016 / 12:59 AM / 8 months ago

RUBBER-Tokyo futures jump to 3-year high on speculator buying

TOKYO, Dec 15 (Reuters) - Benchmark TOCOM rubber futures jumped nearly 4 percent on Thursday to hit their highest in three years, with speculators continuing to buy following a rally in Shanghai futures.

FUNDAMENTALS

* The Tokyo Commodity Exchange rubber contract for May delivery <0#2JRU:> had risen 10.3 yen, or 3.8 percent, to 282.6 yen ($2.40) per kg by 0041 GMT. In evening trade, it surged to its highest since September 2013 at 288.8 yen.

* The U.S. Federal Reserve raised interest rates on Wednesday and signalled a faster pace of increases in 2017 as central bankers adapted to the incoming Trump administration's promises of tax cuts, spending and deregulation.

* Shares of U.S. automakers General Motors Co and Ford Motor Co skidded on Wednesday after a Chinese official warned the government could slap a penalty on an unnamed U.S. automaker for monopolistic behaviour.

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

MARKET NEWS

* The U.S. dollar surged more than 1.5 percent overnight to a 10-month high of 117.400 yen. A weaker yen makes yen-denominated assets more affordable when purchased in other currencies.

* Japan's benchmark Nikkei stock average edged higher on Thursday despite Wall Street's biggest percentage decline overnight since before the Nov. 8 U.S. presidential election, hit by the Fed rate hike.

* Oil prices slid more than 3 percent on Wednesday as the dollar jumped.

DATA/EVENTS (GMT)

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

0800 France Markit manufacturing flash PMI Dec

0830 Germany Markit manufacturing flash PMI Dec

0900 Euro zone Markit manufacturing flash PMI Dec

0930 Britain Retail sales Nov

1200 Bank of England interest rate decision

1330 U.S. Consumer prices Nov

1330 U.S. Current account Q3

1330 U.S. New York Fed manufacturing Dec

1330 U.S. Weekly jobless claims

1330 U.S. Philly Fed business index Dec

1500 U.S. NAHB housing market index Dec ($1 = 117.6100 yen) (Reporting by Yuka Obayashi; Editing by Joseph Radford)

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