KUALA LUMPUR: The Malaysian rubber market closed higher for the second consecutive day yesterday on the back of persistent buying for the commodity.
A dealer said investors took the cue from the higher rubber prices on the Tokyo Commodity Exchange.
Positive sentiments from a rally in the Singapore Exchange and Shanghai Futures Exchange supported local prices.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 10.5 sen to 551 sen a kg and latex-in-bulk added 2.5 sen to 464.50 sen a kg. Bernama