TOKYO: Japanese rubber futures slid on Thursday, tracking a slump in Shanghai futures amid concerns over a slowing economy in top buyer China following weak automobile sales data and as weaker-than-expected lending data triggered liquidity fears.

The Osaka Exchange's rubber contract for January delivery finished 1.7 yen, or 0.8%, lower at 220.6 yen ($2.0) per kg.

The rubber contract on the Shanghai futures exchange for January delivery plunged 170 yuan to finish at 14,625 yuan ($2,258) per tonne.

China's vehicle sales slid in July for a third consecutive month, hit hard by flooding in some areas of the country, COVID-19 outbreaks in other areas and a global shortage of semiconductors.

China's new bank loans fell more than expected in July to their lowest in nine months. The world's second-largest economy has largely rebounded from the COVID-19 crisis, but recent outbreaks of the Delta variants and severe flooding threaten to slow its recovery. The front-month rubber contract on Singapore's SICOM exchange for September delivery last traded at 172.5 US cents per kg, down 0.4%.