KUALA LUMPUR, Jan 7 --The Malaysian rubber market extended its rally with the SMR 20 surpassing the RM6.00 level per kilogram today, bolstered by firmer guidance from regional rubber futures markets, said a dealer.
Investors he said, were also optimistic over the market's positive outlook despite spiralling tension in the Middle East over the recent assassination of an Iranian commander in Baghdad.
"Benchmark oil prices erased gains from yesterday to open lower today as no fresh escalation in tensions were reported from the Middle East. Investors are optimistic that the geopolitical tension will have a major impact on the global economy,” said the dealer.
On Jan 3, the United States killed a top Iranian general, triggering fears of military conflict in the oil-rich region.