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Rubber prices close higher

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Rubber prices close higher Empty Rubber prices close higher

Post by Cals Thu 17 Oct 2013, 18:15

Rubber prices close higher
Business & Markets 2013
Written by Bernama   
Thursday, 17 October 2013 17:36
KUALA LUMPUR (Oct 17): The Malaysian rubber market extended its gains to close higher today as the ringgit continued to strengthen against the US dollar, dealers said.
The local market was also in tandem with the Tokyo Commodity Exchange as the US agreed on a deal to end the budget impasse that had cast a gloom over the global economy.
"The US Senate approved a deal that ended the political crisis that partially shut down the federal government and brought the world's biggest economy to the edge of a debt default that could have threatened financial calamity," a dealer said.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 gained 6.5 sen to 757.0 sen a kg and latex-in-bulk increased 0.5 sen to 537.0 sen a kg.
Meanwhile, the unofficial seller's closing price for tyre-grade SMR 20 dipped 4.5 sen to 748.50 sen a kg and latex-in-bulk shed one sen to 535.50 sen a kg.
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