SINGAPORE: Japanese rubber futures rose on Tuesday, buoyed by optimism over rising automobile demand, following plans by China’s BYD to ramp up electric vehicle (EV) assembly in Brazil. The Osaka Exchange (OSE) rubber contract for December delivery ended daytime trade up 2.9 yen, or 0.94%, at 312.2 yen ($2.14) per kg.

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The ringgit opened lower against the US dollar on Tuesday as market sentiment turned cautious following the United States’ (US) latest reciprocal tariff policy adjustments, which will take effect on Aug 1, 2025, said an analyst.

Oil prices retreated after rising almost 2 per cent in the previous session as investors assessed new developments on US tariffs and a higher-than-expected OPEC+ output hike for August.

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At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell by 7.59 points to 1,529.95 from Monday’s close of 1,537.54.

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Donald Trump sent letters to 14 countries, mainly in Asia, informing them that higher import tariffs will come into effect on August 1 unless they reach a deal with the United States.