RUBBER-Japan futures rise on hopes of easing US-China trade tensions

TOKYO, June 6 (Reuters) -

• Japanese rubber futures touched a one-week high on Friday, buoyed by hopes of easing U.S.-China trade tensions, but the contract was set for a modest weekly loss amid signs of weakness in the U.S. economy.

• The Osaka Exchange (OSE) rubber contract for November delivery JRUc6, 0#2JRU: climbed 4.9 yen, or 1.68%, to 297.3 yen ($2.1) per kg, as of 0238 GMT, its highest level since May 30.

• The contract has lost nearly 1% so far this week.

• The rubber contract on the Shanghai Futures Exchange (SHFE) for September delivery SNRv1 rose 215 yuan, or 1.59%, to 13,770 yuan ($1,917) per metric ton.

• U.S. President Donald Trump and Chinese leader Xi Jinping confronted weeks of brewing trade tensions and a battle over critical minerals in a rare leader-to-leader call on Thursday that left key issues to further talks.

• U.S. nonfarm payrolls report later on Friday, which will draw greater scrutiny after a slew of weaker-than-expected economic data this week, will be in focus.

• Japanese household spending unexpectedly fell in April, government data showed on Friday, as consumers tightened their purse strings in the face of higher prices.

• Japan has eased its demand for a full repeal of the 25% U.S. auto tariff and is instead proposing a mechanism to reduce the rate based on how much countries contribute to the U.S. auto industry, the Asahi newspaper reported.

• The yen JPY=EBS traded at 143.88, against 143.15 yen in late Asia trade on Thursday. USD/

• A weaker currency makes yen-denominated assets more affordable to overseas buyers. FRX/

• Japan's Nikkei .N225 rose 0.5% on Friday.

• Oil prices slipped but were on track for their first weekly gain in three weeks. O/R

• The front-month rubber contract on Singapore Exchange's SICOM platform for July delivery STFc1 last traded at 161.9 U.S. cents per kg, up 1.2%.

($1 = 7.1834 Chinese yuan renminbi)

($1 = 143.8500 yen)