KL Rubber Market Ends Mixed

By Abdul Hamid A Rahman

KUALA LUMPUR, Aug 21 (Bernama) -- The Kuala Lumpur rubber market ended mixed on Friday, supported by an uptrend in regional rubber futures markets, said a dealer.

He said expectations of further Chinese stimulus and firmer demand from China’s tyre industry also lifted market sentiment.

“China pledged to roll out additional fiscal policy measures as needed to support economic growth amid slowing momentum.

“Also, China’s rubber tyre output increased 8.1 per cent year-on-year to 102.66 million units in July, signalling stronger downstream demand,” he told Bernama.

The dealer said ongoing El Niño concerns, which could disrupt natural rubber production in major producing regions, as well as a weaker ringgit against the US dollar, also supported market sentiment.

However, he said easing crude oil prices and continued geopolitical uncertainty in West Asia capped further gains.

At 3 pm, the price of Standard Malaysian Rubber 20 (SMR 20) increased by nine sen to 947.0 sen per kilogramme (kg), while latex in bulk decreased by one sen to 679.5 sen per kg.

-- BERNAMA