Rubber Market Ends Lower Tracking Weaker Regional Futures Markets
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, April 22 (Bernama) -- The Malaysian rubber market ended lower today tracking the weaker regional rubber futures markets and a stronger ringgit versus the US dollar, said a dealer.
The Japanese rubber futures traded lower, pressured by a firmer yen and higher supply prospects.
Market tone remained quiet amid concerns over global economic uncertainties due to the brewing trade war and geopolitical tensions.
Nevertheless, further losses were capped by gains in crude oil prices and optimism over potential Chinese recovery supported by stimulus measures.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 declined by 15.5 sen to 745.00 sen per kilogramme (kg) from Monday, while latex in bulk was down by 5.5 sen to 641.00 sen per kg yesterday.
-- BERNAMA
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