Rubber Market Closes Flat Amid Mixed Regional Futures Cues

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Oct 27 (Bernama) -- The Malaysian rubber market closed flat today amid mixed cues from the regional rubber futures markets and gains in crude oil prices, a dealer said.

She told Bernama that the market sentiment improved following the release of strong Chinese economic data, easing concerns of the US-China trade tension and increasing conviction of an upcoming United States interest rate cut.

“Oil prices increased on Monday as traders welcomed signs of progress in US-China trade talks. Easing concerns over an imminent supply glut, particularly due to additional sanctions on Russia, provided further support.

“Washington and Beijing said over the weekend that they had agreed to a framework trade deal, which will be built on when leaders Donald Trump and Xi Jinping meet in South Korea later this week,” the dealer said.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose 7.50 sen to 744.0 per kilogramme (kg), while latex-in-bulk eased by half a sen to 568.50 per kg.

-- BERNAMA