Rubber Market Ends Higher, Tracking Regional Futures

Kuala lumpur:<Text>

The Kuala Lumpur rubber market ended higher on Monday in tandem with the uptrend in the regional rubber futures markets and a weaker ringgit against the US dollar, a dealer said.

According to BERNAMA News Agency, Japanese rubber rose for a ninth consecutive session, reaching its highest since March. The market was supported by strong car sales and higher oil prices. However, further gains were limited due to a downtrend in crude oil prices, following political turmoil in an Organisation of the Petroleum Exporting Countries member state that disrupted oil supply.

The dealer noted that oil prices drifted lower on Monday as adequate global supplies offset concerns about supply disruptions after the United States captured Venezuelan President Nicolas Maduro in a raid over the weekend. At 4.29 pm, the ringgit weakened to 4.0675/0720 against the greenback from last Friday's close of 4.0515/0560.

Meanwhile, Brent crude was down 1.37 percent to US$59.92 a barrel at the time of writing. By 3 pm, Standard Malaysian Rubber (SMR) 20 increased 12.5 sen to 756 sen per kilogramme (kg), while latex-in-bulk rose two sen to 577 sen per kg.

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