KUALA LUMPUR, Nov 22 (Bernama) -- The Malaysian rubber erased yesterday's mixed to close lower today, dragged down by a weaker advice from regional rubber futures markets owing to persistent worries over the status of the US-China trade deal, a dealer said.
He said the decline was also influenced by falling oil prices, coupled with a stronger ringgit against the US dollar.
"The global commodity and equity markets have been see-sawing this week, as investors reacted to multiple news reports that the US and China might not be able to reach a ‘phase one’ deal until next year,” he said.
At 12 pm, the Malaysian Rubber Board’s reference physical price for tyre-grade SMR 20 eased half-a-sen to 581.0 sen per kg, while latex-in-bulk slipped half-a-sen to 447.0 sen per kg.
The 5 pm unofficial closing price for tyre-grade SMR 20 fell 2.0 sen to 586.0 sen per kg, while latex-in-bulk decreased 1.0 sen to 449.5 sen per kg.