Rubber Market Ends Lower, Tracking Loses In Regional Futures, Oil Prices

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Nov 11 (Bernama) -- The Malaysian rubber market ended lower today, weighed down by declining benchmark crude oil prices and a stronger ringgit against the US dollar, amid weaker cues from regional rubber futures markets, a dealer said.

He said market sentiment was further dampened by growing uncertainty over United States (US) trade policy, interest rates, and weaker Chinese auto sales data.

"Nevertheless, further losses were capped by optimism over an end to the prolonged US government shutdown and signs of easing US-China trade tensions," he told Bernama.

Meanwhile, the dealer said oil prices declined on Tuesday as markets weighed the risk of a looming supply glut, while some resilience in the dollar also weighed on prices.

At the time of writing, Brent crude oil slid 0.05 per cent to US$64.18 per barrel.

At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) was down by 1.5 sen to 722 sen per kilogramme (kg), while latex-in-bulk inched down by half a sen to 570 sen per kg.

-- BERNAMA