Rubber Market Ends Lower On Mixed Regional Futures

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Sept 29 (Bernama) -- The Malaysian rubber market closed lower on Monday, weighed by a mixed trend in regional rubber futures, a dealer said.

She said weaker crude oil prices also dampened sentiment, though losses were partly cushioned by signs of stronger Chinese economic activity.

“Japanese rubber futures lost ground on Monday, pressured by weakness in the Shanghai market and a stronger yen, while declines in Tokyo equities and oil prices also weighed on prices,” she told Bernama.

China’s industrial profits rose 20.4 per cent in August from a year earlier, reversing a 1.5 per cent fall in July. For January-August, profits were up 0.9 per cent compared with a 1.7 per cent decline in the January-July period, she added.

At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) fell 5.5 sen to 737.50 sen per kilogramme, while latex-in-bulk eased two sen to 580.00 sen per kilogramme.

-- BERNAMA