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Analysts said said local players' earnings margins are not going to recover to pre-Covid-19 levels until at least 2028, mainly due to the oversupply faced globally.

The ringgit opened against the US dollar on Monday, as investors are in a cautious mode ahead of the Federal Open Market Committee (FOMC) meeting scheduled on Oct 28-29, an analyst said.

Key export products covered include palm oil, rubber, cocoa, aerospace equipment and pharmaceuticals.

The ringgit continued to open higher against the US dollar on Tuesday, buoyed by recent US-Malaysia trade deals that have increased appetite for the local currency, an analyst said.

Oil prices rose in early trade on Monday after US and Chinese economic officials sketched out a trade-deal framework, easing fears that tariffs and export curbs between the world's top two oil consumers could dent global economic growth.

RHB Investment Bank Bhd (RHB Research) has kept its “Underweight” stance on the rubber products sector, citing ongoing structural headwinds such as prolonged oversupply, intensifying global competition and subdued pricing power that continue to weigh on the industry’s outlook.

The prices in international markets recorded on a downward trend during current month and domestic market prices also have moved in tandem with this