Daily Commentaries 30th Jan 07

As expected, the KLCI recouped earlier losses to close firmer driven by continued blue-chip support. Key headlines today are MTD Infra’s capital repayment of 35sen/share, Gamuda’s RM1bn commercial development project in Vietnam and DiGi extension of its popular friends & family calls to include non-DiGi and postpaid customers. Meanwhile, Sin Chew announced the creation of a Chinese newspaper giant through the merger with Nanyang and Hong Kong- listed Ming Pao while Alam Maritim acquired 2 vessels. The market is likely to be further buoyed by the favorable sentiment although attention will be on corporate earnings delivery and the U.S. FOMC meeting tomorrow. Resistance and support are pegged at 1180 and 1170 respectively.