Rubber Market Closes Mixed On Weaker Regional Futures

By K. Naveen Prabu

KUALA LUMPUR, Nov 7 (Bernama) -- The Malaysian rubber market ended mixed today, influenced by weaker advice in the regional rubber futures markets, said a dealer.

He said market sentiment was further weighed down by disappointing Chinese economic data and renewed United States-China trade tensions. 

“China’s exports dropped 1.1 per cent, the weakest since February, as US-bound shipments plunged over 25 per cent due to tariffs,” he told Bernama.

He said further losses, however, were limited by gains in crude oil.

“Oil rose on Friday following three days of declines on worries about excess supply and slowing demand in the US,” he said.

At 3 pm, the Malaysian Rubber Board (MRB) reported that the price of Standard Malaysian Rubber 20 (SMR 20) declined 7.50 sen to 720.00 sen per kilogramme (kg), while latex-in-bulk remained unchanged at 570 sen per kg.

-- BERNAMA