Rubber Market Extends Decline On Stronger Ringgit, Regional Futures Downtrend
By Abdul Hamid A Rahman
KUALA LUMPUR, April 29 (Bernama) -- The Malaysian rubber market extended the downtrend today in tandem with regional rubber futures markets and a stronger ringgit against the United States (US) dollar as China withheld additional stimulus, said a dealer.
She told Bernama that losses in oil prices amid the ongoing US-China trade war also dampened market sentiment.
“Nevertheless, further losses were capped by optimism on US President Donald Trump’s auto tariff relief and the bright natural rubber demand outlook reported by the Association of Natural Rubber Producing Countries,” she added.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 dropped 9.0 sen to 738.50 sen per kilogramme (kg), while latex in bulk fell by 5.0 sen to 661.50 sen per kg.
-- BERNAMA