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TOKYO: Japanese rubber futures hit a more than one-week low on Monday as slumping Shanghai market and weaker Tokyo equities dented investors' risk appetite, while soft factory activity data in top buyer China also raised concerns over slower demand.

Osaka Exchange's rubber contract for November delivery finished 8.6 yen, or 3.4%, lower at 245.7 yen ($2.2) per kg. It fell to its lowest since May 20 of 244.4 yen earlier in the session.

Still, it eked out a 0.3% gain for the month.

The rubber contract on the Shanghai futures exchange for September delivery plunged 340 yuan to finish at 13,400 yuan ($2,103) per tonne.

China's factory activity growth slowed slightly in May as raw materials costs grew at their fastest pace in over a decade, weighing on the output of small and export-oriented firms.

Japanese shares closed lower, as investors locked in gains after a recent rally.

The front-month rubber contract on Singapore's SICOM exchange for June delivery last traded at 171.0 US cents per kg, unchanged from the previous session.

Malaysian government said on Sunday that palm oil and rubber plantations are allowed to operate during a strict coronavirus lockdown.

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