KUALA LUMPUR, Dec 17 (Bernama) -- The rubber market closed mixed on Tuesday, as market sentiment was weighed down by declining crude oil prices but supported by China's positive announcement to spur economic growth, said a dealer.
"Further losses were also limited by the mixed performance of regional rubber futures markets, concerns over tight natural rubber supply due to bad weather in Thailand and Malaysia, and growing confidence in US rate cuts," she told Bernama.
As of the time of writing, Brent crude oil prices had dropped 0.85 per cent to US$73.28 per barrel.
China’s top leaders were reported to have agreed to raise the country's budget deficit to four per cent of gross domestic product in 2025, aligning with plans for a more proactive fiscal policy to support economic growth, she noted.
According to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) eased half a sen to 895.0 sen per kilogramme (kg), while latex in bulk rose by three sen to 711.5 sen per kg.
At 5 pm, SMR 20 was recorded at 894.0 sen per kg, while latex in bulk stood at 714.0 sen per kg.
-- BERNAMA
