Rubber Market Ends Higher On Regional Futures Uptrend, Supply Concerns
By Fatin Umairah Abdul Hamid
KUALA LUMPUR, Feb 20 (Bernama) -- The Kuala Lumpur rubber market closed higher on Thursday, supported by an uptrend in regional rubber futures markets and persistent concerns over a natural rubber supply shortage, said a dealer.
The dealer told Bernama that market sentiment was also lifted after the Chinese government announced a stimulus measure to boost economic performance.
China kept its benchmark lending rates unchanged, with the one-year loan prime rate (LPR) maintained at 3.10 per cent, while the five-year LPR remained at 3.60 per cent.
“Nevertheless, further gains were capped by a stronger ringgit against the US dollar amid concerns over escalating US-China trade tensions,” she said.
US President Donald Trump said on Wednesday that he would announce tariffs on lumber, cars, semiconductors and pharmaceuticals within the next month or sooner.
The Malaysian Rubber Board reported that, as of 3 pm, SMR 20 increased by 13.5 sen to 924.0 sen per kilogramme, while latex in bulk gained 3.5 sen to 693.5 sen per kilogramme.
-- BERNAMA