Rubber Market Ends Higher On Regional Futures Uptrend
By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, May 19 (Bernama) -- The Malaysian rubber market ended higher today, in tandem with the uptrend in regional rubber futures markets and a weaker ringgit against the dollar, a dealer said.
She said Japanese rubber futures inched up on Monday on easing US-China trade tensions, though gains were capped by a firmer supply outlook in top producer Thailand.
At 4.50 pm, the local currency eased to 4.2935/4.2975 versus the greenback from Friday's close of 4.2900/2980.
'Further gains were capped by losses in crude oil prices amid concerns of the US-China trade talks along with an anticipation of weaker Chinese economic data,' the dealer told Bernama.
At the time of writing, Brent crude oil prices declined 0.79 per cent to US$64.92 per barrel.
Meanwhile, at 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose by 5.5 sen to 764.50 sen per kilogramme (kg), while latex in bulk was up by 2.5 sen to 611.50 sen per kg.
-- BERNAMA
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