By Fatin Umairah Abdul Hamid
KUALA LUMPUR, July 11 (Bernama) -- The Standard Malaysian Rubber grade 20 (SMR 20) closed higher for the third consecutive day on Thursday in tandem with gains in regional rubber futures markets and crude oil prices, said a dealer.
The dealer said that sentiment was buoyed by expectations of United States (US) interest rate cuts.
She said anticipation of strong Chinese economic data, coupled with more stimulus measures to support the country’s economic recovery, helped sustain the market.
“Nevertheless, further gains were capped by a stronger ringgit against the US dollar ahead of a key US inflation report,” she told Bernama.
The Malaysian Rubber Board’s (MRB) price for SMR 20 increased 7.5 sen to 786.5 sen per kilogramme (kg) while latex-in-bulk fell by 2.0 sen to 660 sen per kg.
As of 5 pm, the MRB reference price for physical SMR 20 stood at 782.5 sen per kg while latex-in-bulk was at 657 sen per kg.
-- BERNAMA
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