Rubber market ends higher after long holiday break | Malay Mail

KUALA LUMPUR, May 5 — The rubber market ended higher today after a five-day long weekend in conjunction with the Labour Day and Hari Raya Aidilfitri celebrations, a dealer said.

“Oil prices edged higher on Thursday as a European Union proposal for new sanctions against Russia, including an embargo on crude oil in six months, offset concerns over Chinese oil demand. On US interest rate, it was reported that the US Fed chairman Jerome Powell said policymakers were ready to approve additional half-percentage-point rate hikes in June and July. The US central bank this week raised its benchmark interest rate by a half-percentage point to a range of between 0.75 and 1.0 per cent.

At 5.11 pm, the local note appreciated to 4.3450/3490 versus the greenback from Friday’s close of 4.3520/3570.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Don’t discount the prospect of Malaysia’s rubber glove industry yet ― Zuraida Kamaruddin | Malay MailMAY 4 ― It is an open secret that prices of glove stocks on Bursa Malaysia have slumped substantially since the beginning 2H 2021. This comes about as manufacturers from the Big-Four glove makers to other smaller producers are grappling with normalising average selling prices (ASPs) which is...
Source: malaymail - 🏆 1. / 86 Read more »