KUALA LUMPUR, Dec 19 (Bernama) -- The rubber market closed mixed on Thursday amid the downtrend in regional rubber markets, a dealer said.
She said that the market sentiment was also dragged down by the losses in crude oil prices after the United States Federal Reserve (Fed) projected a slower pace of interest cuts in 2025.
"Oil prices fell after the Fed signalled that it would slow the pace of interest rate cuts, potentially impacting fuel demand," the dealer said.
The Fed lowered its benchmark interest rate to the 4.25 per cent-4.50 per cent range and the central bank now projects it will make just two quarter-percentage-point rate reductions by the end of 2025.
Meanwhile, according to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) eased by 2.5 sen to 871.0 sen per kilogramme (kg), while latex in bulk increased by 2.5 sen to 716.0 sen per kg.
At 5 pm, the price of SMR 20 stood at 865.0 sen per kg, while latex in bulk stood at 719.0 sen per kg.
-- BERNAMA
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