KUALA LUMPUR: Bursa Malaysia closed lower across the board today as investors assessed the impact of the US’s latest tariffs on imports from 60 economies.However, the FTSE Bursa Malaysia KLCI (FBM KLCI) fared better than its regional peers.Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the latest trade measures, coupled with rising crude oil prices and uncertainty surrounding upcoming US technology earnings, weighed on market sentiment.Brent crude oil traded above US$100 (RM409.11) per barrel before easing to US$97.28 (RM397.98) per barrel at the close today, after attacks on Saudi oil tankers in the Red Sea and renewed US strikes on Iran intensified concerns over West Asia supply risks, adding to worries over inflation and the global growth outlook.As for the local bourse, Thong said sentiment has turned cautious amid escalating geopolitical tensions and the implementation of the latest US tariffs.“However, we believe the 1,700 level should provide strong psychological and technical support, driven by bargain-hunting after the recent pullback.While external headwinds are likely to keep volatility elevated, the FBM KLCI has retreated to above the 1,700-support level, bringing valuations to more attractive levels,” he told Bernama.Meanwhile, IPPFA Sdn Bhd director and country economist Sedek Jantan said the local market has demonstrated greater resilience than during the previous oil price spike, despite the benchmark index’s decline.He said the FBM KLCI has so far managed to hold above the 1,700-point level, suggesting stronger underlying market support, underpinned by improved domestic fundamentals and continued institutional participation.“While geopolitical developments and elevated energy prices are likely to keep volatility high in the near term, the market's ability to remain above key psychological support indicates that investors are adopting a more measured approach rather than a broad-based risk-off reaction,” he said.At 5pm, the FBM KLCI declined 13.57 points, or 0.79%, to 1,701.02 from yesterday's close of 1,714.59.The benchmark index opened 4.14 points lower at 1,710.45, and moved between 1,697.76 and 1,710.80 throughout the day.On the broader market, decliners outnumbered advancers 723 to 339, while 543 counters were unchanged, 1,168 untraded and 30 suspended.Turnover narrowed to 3.03 billion units valued at RM2.30…
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