KL Rubber Market Close Higher Supported By Higher Regional Futures Market
By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Jan 16 (Bernama) -- The Kuala Lumpur rubber market closed higher today, supported by the uptrend in regional rubber futures markets as traders responded to better-than-expected US economic data, said a dealer.
She said continued wet weather forecasted to affect major natural rubber (NR) producers, and gains in crude oil prices further lifted market sentiment.
“Nevertheless, further gains were capped by the stronger ringgit against the US dollar amid worries over uncertainties of US policies and tariff decisions,” the dealer told Bernama.
At 3 pm, the Malaysian Rubber Board reported that the Standard Malaysian Rubber 20 was higher by 2.0 sen per kilogramme (kg) to 894.00 sen per kg from Wednesday’s 892.00 sen per kg, while latex in bulk increased 1.0 sen per kg to 671.50 sen per kg from 670.50 sen per kg previously.
-- BERNAMA