Malaysian rubber prices closed higher yesterday in line with the better showing on the Tokyo Commodity Exchange (TOCOM), dealers said.
A dealer said prices on TOCOM extended their gains as a result of the weakening yen against the US dollar.
“Positive manufacturing data from Europe data also drove investors towards the rubber market,” he said.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 jumped 12 sen to close at 805.5 sen per kg while latex-in-bulk gained four sen to 558 sen per kg.
The unofficial closing price for tyre-grade SMR 20 increased seven sen to 808.5 sen per kg while latex-in-bulk rose two sen to 559 sen per kg.– Bernama