By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, May 21 (Bernama) -- The Malaysian rubber market ended with mixed results today, following losses in the regional rubber futures market, said a dealer.
Market sentiment was also dampened by concerns over strained US-China relations, the economic impact of the United States' trade tariffs and the lack of progress on fresh trade deals, she said.
“Nevertheless, further losses were capped by gains in crude oil prices and encouraging Chinese economic data,” the dealer told Bernama.
Japanese rubber futures declined on Wednesday due to an improved supply outlook as production areas began their harvest season. However, demand for the tyre-making material is increasing, along with concerns about inclement weather, she noted.
At 5.25 pm, Brent crude oil prices increased by 1.45 per cent to US$66.36 per barrel.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber (SMR) 20 rose by 14.0 sen to 743 sen per kilogramme (kg) while latex in bulk was down by 3.0 sen to 601.50 sen per kg.
-- BERNAMA
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