Local Rubber Market Ends Lower, Weak Sentiment Regionally

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Nov 1 (Bernama) -- The Kuala Lumpur rubber market ended lower on Friday, influenced by weaker sentiment from regional rubber futures markets, said a dealer.

She noted that a cautious sentiment has prevailed in the market with the impending United States election, alongside escalating geopolitical conflicts in the Middle East.

“Nevertheless, further losses were limited by gains in benchmark crude oil prices and positive Chinese economic data,” she told Bernama.

At 5 pm, Brent crude oil prices rose by 2.62 per cent to US$74.72 per barrel. 

According to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) declined by 6.5 sen to 860.0 sen per kilogramme (kg), while latex in bulk fell by five sen to 731.5 sen per kg.

At 5 pm, SMR 20 stood at 862.5 sen per kg, while latex in bulk was at 726.5 sen per kg.

-- BERNAMA