RUBBER MARKET EXTENDS LOWER DOWNTREND, TRACKING WEAKER REGIONAL FUTURES

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, April 16 (Bernama) -- The Malaysian rubber market continued to close lower on Wednesday, dragged by losses in regional rubber futures markets, sparked by fears of escalating global trade war, a dealer said.

She said Japanese rubber futures declined on Wednesday as uncertainty over tariffs imposed by United States President Donald Trump and their potential impact on the global economy.

“Nevertheless, further losses were capped by optimism for more stimulus from China amid better-than-expected Chinese economic data,” she told Bernama.

Meanwhile, the dealer reported that China's economy grew more than expected in the first quarter of 2025, with gross domestic product (GDP) growing 5.4 per cent year-on-year.

She said China's Industrial production rose 7.7 per cent year-on-year in March, surpassing expectations that it would remain steady at 5.9 per cent, as seen in the January-February period.

“China's March retail sales, which is a key gauge of consumption, jumped 5.9 per cent, above expectations of a 4.2 per cent growth,” she added.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 fell by 18 sen to 739.5 sen per kilogramme (kg), while latex in bulk was down by 5.5 sen to 649 sen per kg.

-- BERNAMA