KUALA LUMPUR, June 11 (Bernama) -- The Malaysian rubber market extended its mixed performance at the close today, in tandem with regional rubber futures markets and crude oil prices, a dealer said.
He said the progress of US-China trade talks helped to support market sentiments. “United States and Chinese officials said they had reached a framework to move forward on a trade deal after two days of high level talks in London, with rare earths and chip export restrictions in focus,” he added.
Most Asian stocks rose on Wednesday, with Chinese markets in the lead amid optimism over a trade framework agreement with the US, although investors were still awaiting more details on the trade talks.
Nevertheless, the dealer said further gains were capped by weaker global economic prospects as US tariff uncertainties persisted. “The World Bank on Tuesday slashed its global growth forecast for 2025 to 2.3 per cent, saying that higher tariffs and heightened uncertainty posed a significant headwind for nearly all economies,” he noted.
It was reported that the US Federal Reserve is expected to keep interest rates on hold for at least another couple of months as risks linger that inflation may surge again due to US President Donald Trump’s tariff policies.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose by 2.5 sen to 709.00 sen per kilogramme (kg), while latex in bulk dropped three sen to 587.50 sen per kg.
-- BERNAMA
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