Kuala Lumpur: The Malaysian rubber market ended lower today, influenced by weaker regional rubber futures markets and a stronger ringgit against the US dollar, according to a dealer.
According to BERNAMA News Agency, the Japanese rubber futures experienced a decline, pressured by a firmer yen and higher supply prospects. The overall market tone remained quiet, with concerns over global economic uncertainties arising from the ongoing trade war and geopolitical tensions.
However, potential further losses were somewhat limited by gains in crude oil prices and optimism about a potential Chinese economic recovery, supported by stimulus measures.
At 3 pm, the Malaysian Rubber Board noted a decrease in the price of Standard Malaysian Rubber (SMR) 20, which fell by 15.5 sen to 745.00 sen per kilogramme (kg) from Monday. Meanwhile, the price of latex in bulk was down by 5.5 sen to 641.00 sen per kg yesterday.