SINGAPORE: Japanese rubber futures held steady on Thursday, supported by robust Chinese auto demand while currency market swings kept overseas buyers cautious.

The ringgit opened stronger against the US dollar on Friday, supported by growing expectations of a US interest rate cut and global risk-off sentiment.

Near-term prospects for the rubber glove sector remain bleak due to an unfavourable operating environment caused by price competition.

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Hartalega Holdings Bhd remains cautious amid growing competition from Chinese glove makers expanding into Southeast Asia and targeting the same United States market.

Malaysian palm oil futures slipped into a tight range on Friday.

Oil prices rose by around 1 per cent in early trade on Thursday.

At 8 am, the local note stood at 4.2220/2430 versus the greenback, strengthening from yesterday’s close of 4.2305/2355.