Tokyo rubber futures rise on Shanghai gains

TOKYO, April 22 (Reuters) –

* The benchmark Tokyo Commodity Exchange (TOCOM) rubber contract, for September delivery , rose on Monday, moving further away from a 1-1/2-week low hit last Friday, helped by an overnight gain in Shanghai.

* It was up 1.8 yen, or 1.0 percent, at 190.3 yen ($1.7) per kg as of 0029 GMT.

* Key Shanghai futures ended overnight trading up 90 percent at 11,540 yuan ($1,722) per tonne

* Rubber inventories in warehouses monitored by the Shanghai Futures Exchange climbed 0.5 percent from the previous Friday, the exchange said on Friday.

* Goodyear Tire & Rubber Co is expected to show a fall in quarterly revenue when it reports results on April 26.

* Oil prices rose early on Monday, with Brent hitting its highest levels since Nov. 2018, driven up by a decline in U.S. drilling activity and the ongoing supply cuts led by producer club OPEC.

* The U.S. dollar was quoted around 111.94 yen, compared with around 111.90 yen on Friday afternoon

* Japan’s benchmark Nikkei stock average opened down 0.05 percent at 22,188.62 on Monday, while the broader Topix shed 0.21 percent to 1,613.54.

* TOCOM’s technically specified rubber (TSR) 20 futures contract for October delivery was steady at 169.0 yen per kg on Monday. ($1 = 6.7032 Chinese yuan renminbi) ($1 = 111.9400 yen) (Reporting by Yuka Obayashi; Editing by Joseph Radford)