KUALA LUMPUR: Malaysia's rubber market may continue to weaken this week due to uncertainty about the European economy and concerns before the US release of employment data. Dealers said that those investors who were optimistic about China's demand earlier liquidated contracts to avoid risks.
The European Central Bank has painted a dim prospect of the euro area and discussed the rate cut at this policy meeting.
Dealers also said that the global stock market will remain weak and fluctuate.
Last Friday, the spot price of tire grade SMR 20 from Malaysian Rubber Division increased by 13 cents to 860 cents per kilogram, while the price of bulk latex surged by 15.5 cents to 579.5 cents per kilogram.
The closing price of tire grade SMR 20 from unofficial vendors increased 7 cents to 858.5 cents per kilogram. The bulk latex price increased by 11.5 sen to 578 sen per kilogram.
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