TOKYO, June 27 (Reuters) - Benchmark TOCOM rubber futures inched lower in light trade on Tuesday on lingering concerns about oversupply in Asia, but firmer oil prices and a softer yen offered some support.
FUNDAMENTALS
* The Tokyo Commodity Exchange rubber contract for new December delivery was at 193.1 yen ($1.70) as of 0030 GMT, down 0.5 yen from an opening price of 193.6 yen.
* The June contract expired at 194.6 yen on Monday.
* General Motors Co now expects U.S. new vehicle sales in 2017 to be in the "low 17 million" unit range, reflecting a widespread expectation that the industry is headed for a moderate downturn, a top executive said on Monday.
MARKET NEWS
* Oil prices settled more than half a percent higher on Monday as some traders found bargains after last week's seven-month lows, but rising crude supply in the United States and other countries limited gains.
* The U.S. dollar hit a one-month high against the yen on Monday as investors awaited Federal Reserve Chair Janet Yellen's speech on Tuesday. It was quoted around 111.93 yen early on Tuesday. A weaker yen makes yen-denominated assets more affordable when purchased in other currencies.
* Japan's benchmark Nikkei stock average rose 0.3 percent on Tuesday.
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