Rubber Market Closes Lower, Tracking Regional Futures

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, July 23 (Bernama) -- The Malaysian rubber market closed lower on Wednesday, in tandem with regional rubber futures markets, amid a stronger ringgit against the US dollar, a dealer said.

She said market sentiment was dampened by the current state of European Union (EU)-China ties and global economic concerns.

“Nevertheless, further losses were capped by optimism from newly announced United States’ trade deals, which bolstered (hopes) for more US agreements ahead of an impending tariff deadline,” she told Bernama.

At 3 pm, the Malaysian Rubber Board (MRB) reported the price of Standard Malaysian Rubber 20 (SMR 20) was down 12.5 sen to 730.50 sen per kilogramme (kg), while latex in bulk fell by half a sen to 572.50 sen per kg.

-- BERNAMA