Rubber Market Ends Lower On Stronger Ringgit, Heightened Geopolitical Tensions

By K. Naveen Prabu

KUALA LUMPUR, Jan 26 (Bernama) -- The Kuala Lumpur rubber market ended lower today, dragged down by the stronger ringgit versus the US dollar amid mixed advice from regional rubber futures, said a dealer.

The dealer said market sentiment was further pressured by heightened geopolitical tensions after the United States (US) signalled an escalation in military posturing.

“It was reported that Iranian authorities unveiled a new mural with a direct warning to the US to not attempt a military strike on the country, as US warships head to the region,” she told Bernama. 

 However, she said further losses were capped by gains in crude oil prices.

At the time of writing, Brent crude oil was up 0.24 per cent to US$66.04 a barrel.

At 3 pm, Standard Malaysian Rubber (SMR) 20 decreased 9.5 sen to 748.5 sen per kilogramme (kg), while latex-in-bulk dropped by two sen to 576 sen per kg.

-- BERNAMA