Rubber Market Slides, Mirroring Regional Weakness

By Siti Noor Afera Abu

KUALA LUMPUR, May 26 (Bernama) -- The Malaysian rubber market closed lower on Monday, tracking the downward movement in the regional rubber futures markets.

A dealer said the ongoing uncertainty over US trade policies also dented market sentiment.

“Nevertheless, further losses were capped by gains in benchmark crude oil prices as market sentiment was lifted by the emerging hints of global economic stability after the postponement of tariffs on the European Union by the US,” he told Bernama.

Furthermore, the Japanese rubber futures fell, tracking a decline in Shanghai futures, weighed by concerns over China’s slowing economic growth.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) decreased by 15 sen to 725.5 sen per kilogramme (kg), while latex in bulk was down by three sen to 624 sen per kg.

-- BERNAMA