KUALA LUMPUR: Bursa Malaysia closed higher on Friday, buoyed by increased buying activity, particularly in commodity-related stocks. 

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.81 points or 0.18 per cent, to 1,547.57 from Thursday's close of 1,544.76. 

Throughout the trading session, the benchmark index, which started 1.54 points higher at 1,546.30, fluctuated between 1,545.90 and 1,552.45. 

The broader market was negative with losers leading gainers 918 to 289 while 416 counters were unchanged. 

Turnover rose to 4.71 billion units worth RM3.40 billion from 3.84 billion units worth RM2.62 billion on Thursday.  

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng strongly advised investors to exercise caution in light of increasing market risks, elevated volatility in global markets, and escalating geopolitical tensions. 

Consequently, he anticipates the benchmark index to further consolidate until new catalysts emerge.  

"From a technical standpoint, the FBM KLCI encountered selling pressure on Monday amid tensions in the Middle East.  

"Despite a subsequent rebound, we expect the benchmark index to enter a consolidation phase and establish a base in the short to mid-term 

"However, a close below the 50-day EMA could indicate potential weakness ahead," he told Business Times. 

As a result, Thong expects the FBM KLCI to fluctuate within the 1,528-1,560 range next week, with immediate support at 1,520, followed by 1,508. 

Meanwhile, he said key regional indices finished lower following the rise in commodity prices due to concerns over worsening geopolitical conditions in the Middle East. 

He added that hawkish statements from Federal Reserve officials added pressure to risk appetite, especially after Atlanta Fed President Raphael Bostic cautioned that the central bank might raise interest rates should inflation remain at a high level.