Kuala Lumpur: The Malaysian rubber market settled lower on Monday, dragged down by losses in regional rubber futures markets. A dealer attributed the decline to heightened concerns over a possible global recession due to mixed economic data and escalating trade tensions following the United States tariff move.

According to BERNAMA News Agency, the dealer noted that further losses were capped by gains in crude oil prices. She explained that Japanese rubber futures fell due to a strengthening yen, while the escalating trade war dampened the outlook for global markets.

Additionally, US President Donald Trump confirmed that the country would implement reciprocal and sectoral tariffs starting April 2, targeting trading partners including China and India. This move has further intensified trade tensions globally.

Oil prices surged on Monday as the US vowed to continue attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping. This development has contributed to the gains in crude oil prices, providing some support to the rubber market.

As of 3 pm, the Malaysian Rubber Board reported that Standard Malaysian Rubber (SMR) 20 fell by 13 sen to 871.5 sen per kilogramme, while latex in bulk decreased by 4.5 sen to 693 sen per kilogramme.