KUALA LUMPUR (Feb 25): The Malaysian rubber market continued its downtrend today, on lack of buying support, due to a stronger ringgit against the US dollar, a dealer said.
He said that sentiment were also weak, brought by a report that Japan notched up a lower-than-expected economic growth rate of 0.3 per cent in the fourth quarter of 2013, less than half of what was forecast, and in spite of a boom in housing industry and stronger consumption.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR20, fell 14 sen to 599 sen a kg, while latex-in-bulk slipped one sen, to 478.5 sen per kg.
The unofficial closing price for tyre-grade SMR20, was 14 sen lower, at 595 sen a kg, while latex-in-bulk shed 0.5 sen, to 478 sen a kg.
