Rubber Market Ends Mixed Amid Global Trade Uncertainties

KUALA LUMPUR, Feb 26 (Bernama) -- The Kuala Lumpur rubber market closed mixed on Wednesday, weighed by a downtrend in the regional rubber futures market amid global trade uncertainties, said a dealer.

She said Japanese rubber futures declined for a third consecutive session today, pressured by a stronger yen along with brewing trade tension between the East and the West, despite tight supply concerns.

"Market sentiment was also dragged by weak United States (US) economic data, while optimism for further Chinese stimulus measures and expectation of US interest rate cuts helped support the market," she told Bernama.

Nevertheless, further losses were capped by ongoing worries over natural rubber supply shortage in the near term due to anticipation of wet seasons within rubber-producing regions, coupled with rising crude oil prices.

As of 3 pm, the Malaysian Rubber Board reported that Standard Malaysian Rubber (SMR) 20 fell 20 sen to 910.5 sen per kilogramme while latex in bulk gained half-a-sen sen to 704 sen per kilogramme.

-- BERNAMA