By Muhammad Fawwaz Thaqif Nor Afandi
KUALA LUMPUR, Feb 25 (Bernama) -- The Kuala Lumpur rubber market ended higher on Wednesday, supported by gains in regional rubber futures and tightening global supply due to weather disruptions during the wintering season, a trader said.
She said Japanese rubber futures touched their highest in a year as top producers Thailand and Indonesia faced weather disruptions and localised rainfall during the low-production wintering season.
The trader said that the United States (US) demand signals were strong, with consumer confidence rebounding to 91.2 points in February and December wholesale inventories showing a 2.9 per cent year-over-year increase, including significant growth in motor vehicle stocks.
“Market sentiment was lifted by Hyundai Motor Group's plans for a multi-billion-dollar investment in South Korea to expand into artificial intelligence, robotics, and autonomous driving,” she added.
However, further gains were limited by traders' concerns over the impact of US President Donald Trump administration's new global tariff, as well as a slightly stronger ringgit against the US dollar.
At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 increased 14 sen to 801 sen per kilogramme (kg), while latex-in-bulk was up by seven sen to 604 sen per kg.
-- BERNAMA
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