By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Aug 13 (Bernama) -- The Malaysian rubber market closed lower today, influenced by the weaker United States (US) economic data reported yesterday, and the mixed trend in regional rubber futures markets, said a dealer.
According to reports, the US consumer prices in July were 2.7 per cent higher year-on-year, according to the Consumer Price Index (CPI) which tracks the cost of a basket of goods and services.
The US’ annual inflation rate has risen by 0.4 percentage points since April.
Meanwhile, the dealer said market sentiment was also dampened by losses in crude oil prices and a stronger ringgit against the US dollar.
“Nevertheless, further losses were capped by the dwindling raw materials in major natural rubber (NR)- producing countries due to wet weather and the latest Chinese stimulus measures to boost their economic performance,” she told Bernama.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 was down by 4.0 sen to 732.50 sen per kilogramme (kg), while latex in bulk dropped 4.5 sen to 573.0 sen per kg.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
