Share prices on Bursa Malaysia are expected to be higher next week riding on its resilience and defensive appeal amid rising global risk aversion, dealers said.

"More upside in the FTSE Bursa Malaysia KLCI (FBMKCLI) is anticipated following losses in European equities last week," Vice-President and Head of Retail Research of Affin Investment Bank, Dr Nazri Khan, said.

He said global stocks were expected to see further losses following the failure of Federal Reserve and European Central Bank to adopt monetary stimulus measures.

Nazri said selling also swept across commodities, with copper leading industrial metals lower with a fall of 1.5 per cent while both light crude oil and crude palm oil dropped two and 1.8 per cent respectively to suggest short-term bearishness in the market sentiment.

He said some volatility was expected next week due announcements from various countries -- Australia's monetary statement, Japan's monetary statement and current account, China's trade balance, UK's industrial production and inflation and US unemployment and trade balance.

On the local front, the continuous rotation out of small capitalised stocks into big-caps since June 2012 was expected to push FBMKLCI higher, he said.

"The rotation suggests that local investors have been less risk aggressive and is seeking a hide in stable defensive blue-chips," Nazri said.

He said although the Malaysian stock market has been flat last week, its short-term momentum would be helped by the defensive play in blue-chips and the weakening global trends.

"The local index is currently trying to shake-off a five-day sideways consolidation range between 1,620 and 1,635 levels," he said.

Some key headlines likely to spur good market play next week included Eastern and Oriental Bhd RM1 billion condo launch, SapuraKencana bagging more Australia oil commissioning job, FandN's potential beverage tie-up with Coca-Cola and speculative properties play from the launch of Tun Razak Exchange, he said.

On a Friday-to-Friday basis, the benchmark FTSE Bursa Malaysia KLCI closed 10.1 points higher at 1,635.04.

The Finance Index increased 50.1 points to 14,705.18, the Plantation Index declined 11.2 points to 8,705.82 and the Industrial Index added 5.1 points to 2,859.65.

The FBM Emas Index advanced 74.3 points to 11,187.93, the FBM70 soared 127.4 points to 12,368.11 and the FBM Ace Index was 96.3 points higher at 4,442.1.

The weekly volume increased to 5.885 billion shares valued at RM8.193 billion from 5.212 billion shares worth RM8.744 billion last week.

Main market volume was up to 4.389 billion shares worth RM7.942 billion from 3.983 billion shares worth RM7.902 billion previously.

Volume on the ACE market rose to 1.048 billion shares valued at RM186.546 from 820.373 million shares valued at RM166.148 million last week.

Warrants declined to 293.575 units worth 54.226 million from 381.629 million units worth RM47.276 million. -- BERNAMA