Local Rubber Market Ends Mixed Amid Weaker Regional Sentiment

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Oct 11 (Bernama) -- The Kuala Lumpur rubber market finished mixed on Friday amid weaker advice from the regional rubber futures markets and declining benchmark crude oil prices as the ringgit strengthened against the US dollar, a dealer said.

She said market sentiment was also dented by concerns over the escalation of the Middle East conflict.

“Nonetheless, further losses were capped, as sentiment was supported by the optimism for further Chinese stimulus and improved global economic data,” she told Bernama. 

She said oil prices declined on Friday after a rally the previous day, but prices remained set for a second straight weekly gain as investors weighed the impact of hurricane damage on US demand against any broad supply disruption if Israel attacked Iranian oil sites.

The Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) was down by 13 sen to 851 sen per kilogramme (kg), while latex-in-bulk remained unchanged at 748.5 sen per kg.

At 5 pm, SMR 20 stood at 853.5 sen per kg while latex-in-bulk was at 749 sen per kg.

-- BERNAMA