By Siti Noor Afera Abu
KUALA LUMPUR, Sept 4 (Bernama) -- The Malaysian rubber market ended lower on Thursday, tracking losses in regional rubber futures markets, with sentiment being clouded by uncertainty over the US interest rate moves and persistent geopolitical crisis.
A dealer said market sentiment was also dragged down by a stronger ringgit against the US dollar and losses in crude oil prices.
“Nevertheless, further losses were capped by dwindling raw materials in major natural rubber-producing countries due to wet weather,” she told Bernama.
Oil prices declined by one per cent on Thursday, as investors and traders looked ahead to a weekend meeting of OPEC+ where producers are expected to consider another increase in output targets.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 fell by 4.0 sen to 751.50 sen per kilogramme (kg), while latex in bulk remained unchanged at 575.0 sen per kg.
The Kuala Lumpur rubber market will be closed on Friday (Sept 5) in conjunction with the Maulidur Rasul public holiday. Operation will commence on Monday (Sept 8).
-- BERNAMA
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