Rubber Market Ends Mixed Amid Weaker Regional Futures

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Sept 18 (Bernama) -- The Malaysian rubber market ended mixed on Thursday amid a weaker regional rubber futures market and lower crude oil prices, a dealer said.

She said the market sentiment turned negative after the United States (US) Federal Reserve (Fed) trimmed interest rates and signalled further cuts.

“Nevertheless, further losses were capped by a weaker ringgit against the US dollar and Chinese stimulus measures,” she told Bernama.

She noted that Japanese rubber futures fell on Thursday, weighed by Thailand’s stronger baht and mounting concerns over export competitiveness in the key auto production hub, which is squeezing automaker margins.

The dealer said oil prices declined for a second session on Thursday, following the US Fed rate cut, with traders remaining concerned about the US economy and excess supplies.

At the time of writing, Brent crude oil inched down 0.1 per cent to US$67.89 per barrel.

As at 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) declined by 14.5 sen to 726.5 sen per kilogramme (kg), while latex-in-bulk inched up by 1.0 sen to 577.5 sen per kg.

-- BERNAMA