KUALA LUMPUR: The Kuala Lumpur rubber market ended higher on Tuesday, supported by the uptrend in the regional rubber futures markets and steady crude oil prices, a dealer said.

The dealer said sentiment was lifted by the prospect of more Chinese fiscal stimulus measures amid concerns for tight natural rubber supply in the region due to adverse weather forecast.

"Nevertheless, further gains were capped by concerns on the prospect of a renewed trade war between China and the United States (US) and its potential impact on the global economy," he told Bernama.

He said Japanese rubber futures rose on Tuesday as a weaker yen buoyed the market owing to the strengthening of the US dollar.

"Oil prices rose higher on Tuesday after falling in the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil's risk premium," he said.

At 5 pm, Brent crude oil prices advanced by 0.56 per cent to US$73.48 per barrel.

The dealer noted that Beijing is set to hold two top political meetings in December, where China is expected to introduce more fiscal stimulus measures to offset the impact of the tariffs.

Meanwhile, it was reported that President-elect Donald Trump on Monday pledged tariffs on the US's three largest trading partners, which include Canada, Mexico and China, detailing how he will implement campaign promises that could trigger trade wars.

According to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) rose by 13.5 sen to 860.5 sen per kilogramme (kg), while latex-in-bulk was up by four sen to 686.5 sen per kg.

At 5 pm, SMR 20 stood at 854.5 sen per kg, and latex-in-bulk was at 684.5 sen per kg.