SMR 20 Ends Higher On Regional Rubber Market Gains, Stimulus-Driven Optimism

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Jan 10 (Bernama) -- Standard Malaysian Rubber 20 (SMR 20) closed higher today, supported by an uptrend in regional rubber futures markets and gains in benchmark crude oil prices, said a dealer.

She said Japanese rubber futures climbed higher for a third consecutive session on Friday, buoyed by a softer yen, although they were still on track to end the week lower due to a subdued global demand outlook.

According to her, sentiment was further bolstered by optimism that China would significantly increase its stimulus measures, particularly through fiscal measures aimed at spurring economic growth in 2025.

As part of these measures, she said, China announced the auto trade-in subsidies, which expired on Dec 31, 2024, would be extended this year under an expanded consumer trade-in scheme to revitalise economic growth.

“Nevertheless, further gains were capped as a slightly stronger ringgit against the United States (US) dollar weighed on sentiment ahead of the US jobs report (for December),” she told Bernama.

At the time of writing, the ringgit traded at 4.4950/5000 against the greenback compared with 4.5005/5055 at yesterday's close. 

The Malaysian Rubber Board reported that as of 3 pm, SMR 20 had risen by 16 sen to 876 sen per kilogramme (kg) while latex in bulk declined by 1.5 sen to 676.5 sen per kg.

-- BERNAMA