Kuala lumpur: The Malaysian rubber market concluded its trading session with mixed results, fueled by optimism surrounding the trade relations between the United States and China, according to a dealer.

According to BERNAMA News Agency, the dealer noted that market sentiment received a boost from stable crude oil prices. However, potential gains were limited due to declines in regional rubber futures markets, ongoing challenges in the global automotive sector, and a weak economic outlook in the United States.

The optimism regarding US-China relations was attributed to a recent meeting held in Busan, South Korea, where leaders from both nations expressed their commitment to bilateral cooperation. The steady crude oil prices on Thursday were also linked to investor anticipation of the US-China trade talks outcome, which could potentially ease tensions affecting global economic growth.

Despite the positive developments, Japanese rubber futures experienced a downturn on Thursday, influenced by concerns over an intensifying semiconductor shortage and diminished demand for electric vehicles, which impacted the automotive industry.

By 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) had increased by 1.5 sen to 749.50 sen per kilogramme, while latex-in-bulk saw a decrease of 2.0 sen, settling at 563.50 sen per kilogramme.