Rubber Market Ends Lower
By Durratul Ain Ahmad Fuad
KUALA LUMPUR, June 5 (Bernama) -- The Malaysian rubber market closed lower today amid mixed regional rubber futures market performance, as the ringgit strengthened slightly against the US dollar, a dealer said.
She said market sentiment was dented by uncertainties in relation to the United States (US) tariffs and trade policy amid weaker US economic data.
“Nevertheless, further losses were capped by gains in crude oil prices and growing hopes that China will introduce more stimulus measures to lift its economy,” she told Bernama.
According to the dealer, the US dollar slid in the previous session (morning) after weak US jobs and services data, with more weighty employment data due on Friday.
“Damage to the US economy is becoming more apparent from US President Donald Trump's erratic tariff action, while bilateral deals remain unrealised,” she added.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) fell by 8.5 sen to 690.5 sen per kilogramme (kg) while latex in bulk decreased by 4.5 sen to 605 sen per kg.
-- BERNAMA