Rubber Market Ends Higher On Gains In Regional Futures

By Nur Athirah Mohd Shaharuddin

KUALA LUMPUR, Feb 19 (Bernama) -- The Kuala Lumpur rubber market ended higher today, in line with the upward trend in regional rubber futures as well as firmer crude oil prices, a dealer said.

She also said that market sentiment was buoyed by a weaker ringgit against the US dollar and by positive performances in the United States and Chinese markets.

“However, gains were capped by thin trading activity across Asia, as several regional markets remained closed for the Lunar New Year holidays,” he told Bernama.

She noted that the oil prices increased as the US and Iran resumed nuclear talks, despite rising geopolitical tensions in the region.

At the time of writing, Brent crude oil was up 1.42 per cent to US$71.36 a barrel.

At 3 pm, the Standard Malaysian Rubber (SMR) 20 rose 13.5 sen to 770.50 sen per kilogramme (kg), while latex-in-bulk increased by five sen to 583.5 sen per kg.

-- BERNAMA