By Nur Athirah Mohd Shaharuddin
KUALA LUMPUR, Oct 2 (Bernama) -- The Malaysian rubber market ended mixed on Thursday, tracking regional rubber futures’ performance and steady oil prices amid supply concerns due to the rainy season in major producing countries, a dealer said.
She said market sentiment was boosted by growing optimism over additional United States (US) interest rate cuts and a positive demand outlook reported by the Association of Natural Rubber Producing Countries (ANRPC).
“However, further gains were capped by a stronger ringgit against the US dollar, as market participants assessed the potential impact of a possible US government shutdown,” she told Bernama.
The dealer noted that Japanese rubber futures fell on Thursday, weighed down by the slowdown in Chinese auto sales, although a weaker yen provided some support to prices.
“Oil prices rose slightly on Thursday as the potential for tighter sanctions on Russian crude lent some support, though concerns about oversupply capped gains,” she said.
At 3 pm, the Malaysian Rubber Board reported that the price of Standard Malaysian Rubber 20 (SMR 20) rose by 4.5 sen to 724.5 sen per kilogramme (kg), while latex-in-bulk decreased by 6.0 sen to 568.0 sen per kg.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
