Rubber Market Closes Mixed Tracking Regional Futures Markets

By Rosemarie Khoo

KUALA LUMPUR, April 23 (Bernama) -- The Malaysian rubber market was mixed today in line with the performance of regional rubber futures markets, said a dealer. 

She said market sentiment was lifted by gains in oil prices and a weaker ringgit against the US dollar amid optimism around trade deals with the United States (US). 

Market players were relieved after US President Donald Trump softened his tone on the US Federal Reserve (Fed) and by the expectations of a de-escalation in trade tensions between the US and China. 

Nevertheless, further gains were capped by a clouded global economic outlook due to US tariffs and geopolitical tensions. 

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 rose by 3.5 sen to 748.50 sen per kilogramme (kg) from Tuesday, while latex in bulk was down by 6.5 sen to 634.50 sen per kg yesterday.

-- BERNAMA