Rubber Market Closes Lower On Weaker Oil, Firm Ringgit

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, July 21 (Bernama) -- The Malaysian rubber market ended slightly lower on Monday, weighed down by weaker crude oil prices and a firmer ringgit against the US dollar, a dealer said.

The dealer added that the decline also reflected lingering uncertainties over potential US trade tariffs and the ongoing crisis in the Middle East.

“However, losses were limited by optimism surrounding US-China trade talks and signs of increased economic stimulus from China,” she told Bernama.

At the time of writing, Brent crude oil fell 0.38 per cent to US$68.96 per barrel.

At 3 pm, the Malaysian Rubber Board (MRB) reported the price of Standard Malaysian Rubber 20 (SMR 20) eased by half-a-sen to 735.50 sen per kilogramme, while latex in bulk dropped 2.0 sen to 569.50 sen per kg.

-- BERNAMA