KUALA LUMPUR (May 15): The Malaysian rubber market closed higher today, extending its gains for the second consecutive day, on the back of buying support for the commodity.
A dealer told Bernama that the local market took the cue from the steadier rubber futures market in Singapore.
“Gains, however, were limited by the lower opening on Tokyo and Shanghai futures markets which saw buyers sidelined in the absence of positive news,” he said.
Another dealer said the strengthening yen coupled with renewed concerns over the slowing Chinese economy curbed demand for the commodity.
The Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose seven sen to 550 sen a kg at noon while latex-in-bulk added one sen to 455 sen a kg.
The unofficial closing price for tyre-grade SMR 20 inched up half-a-sen to 548 sen a kg while latex-in-bulk was unchanged at 455.5 sen a kg.
Malaysia: Rubber market finishes higher
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