Rubber Market Closes Mixed, Tracking Regional Futures Markets

By Engku Shariful Azni Engku Ab Latif

KUALA LUMPUR, Nov 22 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Friday, dragged down by a downtrend in the regional rubber futures market, a dealer said.

She said market sentiment also reacted to the uncertainties in the US-China trade tension, coupled with the geopolitical crisis in the Middle East.

“The supply disruption also lifted sentiment due to the adverse weather conditions in major natural rubber producing countries.

“Nevertheless, further losses were capped by gains in crude oil prices and the weaker ringgit against the US dollar,” she told Bernama.

The dealer also noted that Japanese rubber futures fell on Friday, dragged down by the yen's strong rally, but firmer oil prices limited the losses.

Citing the Thai meteorological department, she said heavy rains may cause flash floods, including in southern Thailand from Nov 22 until Nov 27.

At 5 pm, Brent crude oil prices rose 0.61 per cent to US$74.72 per barrel.

According to the Malaysian Rubber Board, the price of Standard Malaysian Rubber 20 (SMR 20) slid by 9.5 sen to 844.5 sen per kilogramme (kg), while latex in bulk was up by three sen to 681 sen per kg.

At 5 pm, SMR 20 stood at 842 sen per kg and latex in bulk was at 684 sen per kg.

-- BERNAMA