By Engku Shariful Azni Engku Ab Latif
KUALA LUMPUR, April 1 (Bernama) -- The Kuala Lumpur rubber market ended higher on Tuesday, driven by renewed optimism following US President Donald Trump’s announcement of a potential exit plan from the West Asia conflict within the next two weeks to three weeks, the dealer said.
She said the announcement has sparked a rally in Asian stocks and improved investor sentiment.
“Market sentiment was further bolstered by the peak of the wintering season in major producing countries, which has significantly tightened the supply of raw materials.
“Earlier gains were partially capped by mixed signals from regional rubber futures, a slightly stronger ringgit against the US dollar and a decline in crude oil prices,” she told Bernama.
At the time of writing, Brent crude oil prices eased 0.74 per cent to US$103.18 per barrel (US$1=RM4.02).
At 3 pm, the price of Standard Malaysian Rubber (SMR) 20 rose by 8.0 sen to 817 sen per kilogramme (kg), while latex in bulk surged by 11 sen to 715.50 sen per kg.
-- BERNAMA
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