KUALA LUMPUR: The Malaysian rubber market ended higher today as market sentiment was lifted by stronger-than-expected growth in China's manufacturing activity, said a dealer.
The dealer said data from China's National Bureau of Statistics today reported that the Manufacturing Purchasing Managers' Index (PMI) rose 52.6 last month, higher than expectations of 50.5 and Jan's 50.1.
"Oil prices were also up today as stronger-than-expected Chinese economic data drummed up hopes for a demand rebound in the country," she told Bernama.
At the time of publication, the global benchmark Brent crude oil price was up by 0.77 per cent to US$84.09 (RM376) per barrel.
The Malaysian Rubber Board (MRB) price for Standard Malaysian Rubber 20 (SMR 20) was up 15.5 sen to 623.5 sen a kilogramme (kg), while latex-in-bulk rose 1.5 sen to 540 sen a kg.
At 5pm, the MRB closing price for SMR 20 stood at 626 sen a kg, while latex-in-bulk was at 543 sen a kg. – Bernama