Kuala lumpur: The Malaysian rubber market concluded on a positive note, influenced by rising regional rubber futures and climbing crude oil prices. The uplift in the market comes as pressures on the global automotive industry eased following China's decision to resume Nexperia chip exports, according to a dealer.

According to BERNAMA News Agency, market sentiment was further enhanced by the prospect of the United States government reopening. However, these gains faced limitations due to the strengthening of the ringgit against the US dollar, as noted by the dealer.

The dealer also highlighted that Japanese rubber futures saw an increase, driven by China's decision to grant exemptions on export restrictions for Nexperia chips intended for civilian use. Additionally, a weaker yen has made rubber more affordable for foreign currency holders.

Oil prices saw an uptick in Asian markets amid optimism that resolving the prolonged US government shutdown could stimulate demand in the world's largest fuel consuming nation. As of the latest figures, Brent crude oil rose by 0.44 percent, reaching US$63.89 per barrel.

The Malaysian Rubber Board (MRB) reported at 3 pm that the price of Standard Malaysian Rubber 20 (SMR 20) increased by 3.5 sen to 723.5 sen per kilogramme, while latex-in-bulk rose by half a sen to 570.5 sen per kilogramme.