The Malaysian rubber market extended its losses today as the ringgit strengthened against the US dollar, a dealer said.
She said rubber prices were also influenced by disappointing economic data from the United States which sparked fears of slowing growth in the world’s largest economy.
“Sentiment was also weighed by the steep fall on the Tokyo rubber futures exchange which ended lower after hitting a 17-month low on stop-loss selling,” the dealer added.
At noon, the Malaysian Rubber Board’s official physical price for
tyre-grade SMR 20 fell 10.5 sen to 623 sen a kg and latex-in-bulk eased three sen to 458 sen a kg.
The unofficial closing price for tyre-grade SMR 20 fell 11 sen to 618 sen a kg while latex-in-bulk slipped three sen to 456.5 sen a kg.
Source: Business Times
Published: 05 Feb 2014