By K. Naveen Prabu
KUALA LUMPUR, Dec 19 (Bernama) -- The Kuala Lumpur rubber market closed lower today following declines in regional rubber futures and softer crude oil prices, said a dealer.
She said market sentiment was further weighed down by expectations of improved weather in major natural rubber-producing countries.
“Thailand’s northeast monsoon is expected to weaken, reducing rainfall in the south from Dec 18-24,” she told Bernama.
At the time of writing, Brent crude oil price decreased 0.50 per cent to US$59.52 per barrel.
Nevertheless, she said further losses were limited by positive United States economic data.
“US initial jobless claims rose to 224,000, in line with forecasts, signalling a steady labour market and supporting risk sentiment,” she said.
At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 decreased 4.5 sen to 723.00 sen per kilogramme (kg) while latex-in-bulk declined by 1.5 sen to 575.00 sen per kg.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
