KUALA LUMPUR, Feb 23 (Bernama) — The Malaysian rubber market extended its gains to close mixed to higher backed by buying support for the commodity.
A dealer said the local market initially moved in tandem with the uptrend in the Tokyo Commodity Exchange (TOCOM).
“TOCOM climbed to a 3-week high extending gains into a third straight session, following an overnight rally in crude oil prices and stronger Tokyo equities market.
“The local market followed suit but mild profit taking emerged before the close to trim gains,” he added.
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The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 added 0.5 sen to 463 sen a kg while latex-in-bulk gained 8.0 sen to 355 sen a kg.
The 5 pm unofficial closing price for SMR 20 was 3.0 sen lower at 461 sen a kg but latex-in-bulk rose 12.5 sen to 361.5 sen a kg.
— BERNAMA
