The Malaysian rubber prices closed higher today in line with the rise in prices on Tokyo Commodity Exchange (TOCOM), dealers said.
A dealer said prices on TOCOM extended their gains after Japanese Prime Minister Shinzo Abe’s ruling coalition scored a decisive victory in an election on Sunday and won control of the upper house.
“This will lead to a sustained economic recovery,” a dealer said.
At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 jumped 2.5 sen to close at 717.0 sen per kg while latex-in-bulk gained two sen to 531.5 sen per kg.
The unofficial closing price for tyre-grade SMR 20 increased five sen to 720.5 sen per kg while latex-in-bulk rose three sen to 533.5 sen per kg.– Bernama
