KUALA LUMPUR, Jan 13 (Bernama) -- The Malaysian rubber market ended firmer, buoyed by the uptrend in regional rubber futures market following the United States (US)-China trade optimism, coupled with an expected rebound in China's December 2019 trade growth.
“Nevertheless, further gains were capped by a stronger ringgit against the US dollar,” a dealer said.
The local note opened higher versus the greenback at 4.0640/0680 from 4.0750/0780 on Friday.
According to reports, China is expected to post stronger export and import growth in December, helped by a rebound from a low base; signalling a modest recovery in demand as Beijing and Washington takes a step closer to end the trade tiff.
At 12pm, the Malaysian Rubber Board’s (MRB) reference physical price for tyre-grade SMR 20 gained three sen to 604 sen per kg and latex-in-bulk added 1.5 sen to 462 sen per kg.
At 5pm, the MRB’s reference physical price for SMR 20 rose 13 sen to 615 sen per kg, while latex-in-bulk increased nine sen to 471 sen per kg.
Rubber, MRB, SMR 20, stronger ringgit