KUALA LUMPUR, March 20 (Bernama) -- The Malaysian rubber market rebounded to close higher on Thursday as it rode the upward momentum of regional rubber markets and steady benchmark crude oil prices, a dealer said.
She said the market was also supported by the seasonal tightening of raw materials in major rubber-producing countries amid optimism for further stimulus measures in China and an improved Chinese economic outlook in 2025.
"It was reported that global investment banks have raised their projections for China's economic growth for 2025 after early signs of economic recovery, though concerns over the escalating trade disputes with the US persist. Beijing introduced fresh stimulus measures this week to boost domestic consumption and pledged support for stock and property markets while maintaining its 2025 economic growth target at about five per cent," she told Bernama.
Nevertheless, further gains were capped by US tariff uncertainties and a stronger ringgit against the US dollar.
As of 3 pm, the Malaysian Rubber Board reported that the Standard Malaysian Rubber (SMR) 20 rose by 14 sen to 884.5 sen per kilogramme (kg) while latex in bulk added 2.0 sen to 693.5 sen per kg.
-- BERNAMA
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