Kuala lumpur: The Kuala Lumpur rubber market concluded Monday with a mixed performance, buoyed by gains in regional rubber futures markets and the anticipation of a new tyre plant in Selangor.

According to BERNAMA News Agency, market sentiment was positively influenced by supply concerns following a recent rubber export ban by African countries. Despite these factors, the potential for further gains was restricted by subdued crude oil prices amidst ongoing geopolitical uncertainties.

An almost stable ringgit against the US dollar also limited market gains. At the start of the day, the local currency stood at 4.0695/0780 against the dollar, compared to 4.0690/0735 at the close of the previous Friday.

The dealer noted that Japanese rubber futures experienced an uptick on Monday, as traders covered short positions and bargain hunters entered the market after recent significant losses. By 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) had risen by 14.5 sen to 887 sen per kg, while latex-in-bulk decreased by five sen to 741 sen per kg.