KUALA LUMPUR. June 9 (Bernama) -- The Malaysian rubber market ended mixed amidst downward momentum in the Japanese rubber futures market, a dealer said.
He said market sentiment was lifted by optimism over high-level United States (US)-China trade talks scheduled to take place later today, as well as a stronger US jobs report released last Friday.
Nevertheless, he noted that further gains were capped by declining benchmark crude oil prices and weak Chinese economic data amid uncertainties from the tariff war and US trade policy.
He explained that China’s export growth fell to a three-month low in May as US tariffs hit shipments, while factory-gate deflation worsened to a two-year low, adding pressure both at home and abroad.
“China’s producer deflation worsened to 3.3 per cent in May, the steepest in nearly two years, while consumer prices also fell amid trade tensions and a housing slump,” he said.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose by 4.0 sen to 695.00 sen per kilogramme (kg), while latex in bulk dropped by 6.0 sen to 595.50 sen per kg.
-- BERNAMA
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