KUALA LUMPUR (June 23): The Malaysian rubber market closed higher today, in tandem with the better performance of the benchmark Tokyo Commodity Exchange (TOCOM) and Singapore Exchange Ltd (SGX), a dealer said.
He said that the rubber prices traded higher Monday, also due to the strong China June purchasing managers’ index data.
“The data showed that output expanded for the first time in six months and the expectation of a stronger recovery in China’s economy has led to a stronger demand for rubber,” he added.
At the close, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 soared 12.5 sen to 564 sen a kg, and latex-in-bulk rose 2.5 sen to 467 sen a kg last Friday.
The unofficial closing price for tyre-grade SMR 20 surged 13 sen to 568.5 sen a kg, while latex-in-bulk gained 3.5 sen to 468.5 sen a kg.
|AEON Credit appoints Fujita as managing director< Prev||Next >Gold up 63 sen at RM131.89 per gramme at 5pm|