KUALA LUMPUR: The Malaysian rubber market closed higher today due to the weakening ringgit coupled with uptrend in the regional futures market, a dealer said.
He said the rubber market saw a positive sentiment following a rally in stock prices over the Thai government announcement that it would spend over US$180 million to buy rubber to support prices.
“On the other hand, another fund will support domestic rubber futures with help from private firms,” he said.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 increased 12.5 sen to 507 sen a kg, while latex-in-bulk rose two sen to 352 sen a kg.
The unofficial closing price for tyre-grade SMR 20 gained 12 sen to 512 sen a kg, while latex-in-bulk earned four sen to 354 sen a kg. -– BERNAMA
