Rubber Market Ends Mixed Amid Regional Trends

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Nov 28 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Thursday, with market sentiments supported by an uptrend in the regional rubber futures markets and concerns over the global natural rubber supply caused by adverse weather, a dealer said.

She noted that traders also reacted to the upbeat economic data from the United States (US).

"Nevertheless, further gains were capped by declines in crude oil prices and the stronger ringgit against the US dollar," she told Bernama.

She shared that the Japanese rubber futures rose on Thursday due to supply concerns in top producer Thailand, although gains were capped by a stronger yen.

The US economy also grew at a solid 2.8 per cent in the third quarter, driven by a 3.5 per cent rise in consumer spending, the highest this year, highlighting its resilience, she added.

The Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) was up by 1.5 sen at 870 sen per kilogramme (kg), while latex-in-bulk fell by 1.5 sen to 679.5 sen per kg.

At 5 pm, SMR 20 stood at 869.5 sen per kg, and latex-in-bulk was at 677 sen per kg.

-- BERNAMA