By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Jan 9 (Bernama) — The local rubber market closed higher on Thursday, bolstered by an uptrend in regional rubber futures markets and steady benchmark crude oil prices, said a dealer.
Market sentiment was further lifted by expectations of additional stimulus measures from China to mitigate the impact of incoming United States (US) trade tariffs, she told Bernama.
“Nevertheless, further gains were capped by weak Chinese economic data, rising concerns over US-China trade tensions amid increased conviction that the US will cut interest rates at a slower pace in 2025,” the dealer noted.
She also highlighted that Japanese rubber futures edged higher today, supported by the yen reaching a milestone low.
However, softer consumption data from China, the world’s largest consumer, kept price gains in check, the dealer emphasised.
The Malaysian Rubber Board reported that, as of 3 pm, Standard Malaysian Rubber 20 (SMR 20) rose by 11.5 sen to 860 sen per kilogramme (kg), while latex in bulk declined by 2.5 sen to 678 sen per kg.
-- BERNAMA
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