Daily Commentaries 7th Mar 07

The market finally clawed back some of the losses chalked over the past week to close 20.2 points higher as bargain hunters returned to snap-up battered blue chips. EPF makes headlines today with a fresh bid made for RHB Capital, competing with the likes of Kuwait Finance House and EON Capital. The rebound on the KLCI following successive declines is a welcoming respite- drawing some semblance of stability- although we remain cautiously optimistic until a more meaningful upside is established. Immediate support and resistance are pegged at 1130 and 1150 respectively.