Rubber Market Ends Mixed On Global Equity Market Uncertainty Amid Mideast Conflict

By K. Naveen Prabu

KUALA LUMPUR, March 6 (Bernama) -- The Kuala Lumpur rubber market ended mixed today, mirroring the uncertainty in global equity markets amid the ongoing Mideast conflict.

“Asian stocks were mixed on Friday but headed for steep weekly losses as the conflict in the Middle East dampened sentiment,” a dealer told Bernama. 

However, she said that rising crude oil prices limited the losses in rubber.  “Oil prices remained on track for a sharp weekly surge as the escalating conflict in the Middle East raised concerns over global supply disruptions,” she noted. 

At the time of writing, Brent crude oil price jumped 0.52 per cent to US$85.85 a barrel. 

At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 dropped 50 sen to 782.50 sen per kilogramme (kg), while latex-in-bulk gained 5.50 sen to 648 sen per kg.

-- BERNAMA