KUALA LUMPUR: The Malaysian rubber market continued to close higher today on further weakening of the ringgit against the US dollar, a dealer said.
He said the higher price today was also in tandem with higher opening of Tokyo Commodity Exchange prices resulting from a rally in Japanese equities and a weaker yen.
“The Nikkei newspaper reported that the Japanese government is considering setting aside one trillion yen (US$9.65 billion) for stimulus spending next fiscal year to help lessen the economic damage from a sales tax hike scheduled for October next year,” he added.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 earned 3.5 sen to 516.5 sen a kg while latex-in-bulk added 0.5 sen to 418 sen a kg.
The unofficial closing price for tyre-grade SMR 20 rose 2.5 sen to 516 sen a kg while latex-in-bulk gained 0.5 sen to 418 sen a kg.
— Bernama
