SINGAPORE: Japanese rubber futures edged lower for the second straight session on Tuesday, as a batch of soft economic data from top consumer China outweighed support from Beijing’s pledge to ramp up its policy stimulus.

The Osaka Exchange (OSE) rubber contract for May delivery shed early gains to close down 3.3 yen, or 0.9%, at 367.7 yen ($2.43) per kg. The rubber contract on the Shanghai Futures Exchange (SHFE) for May delivery dropped 270 yuan, or 1.44%, to finish at 18,530 yuan ($2,558.12) per metric ton.

The most active February butadiene rubber contract on the SHFE, however, gained 385 yuan, or 2.91%, to 13,610 yuan ($1,878.90) per metric ton.

China’s exports grew at a slower pace in November than the bumper month before, while imports unexpectedly shrank, customs data showed on Tuesday, in a worrying sign for the world’s No. 2 economy as US President-elect Donald Trump’s imminent return to the White House brings fresh trade risks.

The trade data follows official numbers on Monday that showed deflationary pressures persisting despite Beijing’s recent stimulus efforts. Top policymakers on Monday said China will adopt an “appropriately loose” monetary policy, the first easing of its stance in some 14 years, alongside a more proactive fiscal policy to spur economic growth.

China stocks jumped following the government’s major policy shift. Chinese authorities are expected to meet at the annual Central Economic Work Conference this week to set their priorities for the coming year.