Rubber Market Ends Mixed On Optimism Over Possible Chinese Stimulus
The Malaysian rubber market closed mixed today amid optimism over potential Chinese stimulus, according to a dealer.
Market sentiment was influenced by expectations of a United States (US) Federal Reserve rate cut, the dealer said.
“Further gains were limited by a stronger ringgit against the US dollar, amid weaker US data and concerns over upcoming Chinese economic indicators,”he told Bernama.
- Oil prices rose slightly in Asian trade on Wednesday due to renewed geopolitical tensions in the Middle East.
- Traders remained cautious ahead of the Federal Reserve’s policy meeting outcome.
The Federal Reserve is expected to cut rates by 0.25 per cent as policymakers navigate limited data and lingering concerns over the US job market.
Author's summary: Mixed close for Malaysian rubber market.
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