By Abdul Hamid A Rahman
KUALA LUMPUR, Oct 2 (Bernama) -- The Kuala Lumpur rubber market ended higher on Friday, supported by firm manufacturing activity across Europe and Asia, a dealer said.
She said factory activity across Europe and Asia expanded last month, as demand, partly boosted by the global artificial intelligence (AI) spending boom, remained strong despite the energy price shock from the US-Iran conflict, which has kept inflation elevated.
“The market was also supported by ongoing supply disruptions caused by heavy rains in major rubber-producing countries, as well as positive developments in China’s electric vehicle exports.
“Chinese electric vehicle maker BYD’s global sales rose for a fifth straight month in September, increasing 17 per cent, buoyed by strong exports,” she told Bernama.
Nevertheless, she said further gains were capped by lower crude oil prices, concerns over a renewed military build-up in West Asia, and mixed signals from regional rubber futures markets.
At 3 pm, Standard Malaysian Rubber 20 (SMR 20) rose six sen to 1,044.5 sen per kilogramme (kg), while bulk latex increased 3.5 sen to 749.5 sen per kg.
-- BERNAMA