Rubber Market Ends Higher Amid Strong Regional Futures, Firmer Oil Prices

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Oct 8 (Bernama) -- The Malaysian rubber market closed higher on Wednesday, tracking gains in regional rubber futures and oil prices, supported by a weaker ringgit against the US dollar, a dealer said.

Further gains were capped by increased global political uncertainties, particularly the prolonged United States (US) government shutdown ahead of the latest Federal Reserve (Fed) minutes.

“The shutdown, now in its second week, clouded the US economic data outlook and investor sentiment, adding uncertainty to the Fed's policy path,” she told Bernama.

At the time of writing, Brent crude was up 0.89 per cent at US$66.03 per barrel.

The Malaysian Rubber Board reported at 3 pm that the price of Standard Malaysian Rubber 20 (SMR 20) rose by five to 735.5 sen per kilogramme (kg) while latex-in-bulk added a sen to 573 sen per kg.

-- BERNAMA