Stocks to watch: CCB, glove makers, KNM, NSTP, Utusan (Edge)

After a volatile session for Bursa Malaysia on July 30, the market could find a firmer footing on July 31, underpinned by the better overnight close on Wall Street and also fresh corporate news.

On Wall Street, the Dow Jones industrial average added 83.74 points, or 0.92%, to close at 9,154.46. The Standard & Poor's 500 Index rose 11.60 points, or 1.19%, to 986.75. The Nasdaq Composite Index  gained 16.54 points, or 0.84%, to 1,984.30.

Solid US corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

At Bursa Malaysia, Cycle & Carriage Bintang will be in focus after announcing its second quarter results and declared a RM1.20 special dividend to reward its shareholders.

Glove makers Top Glove, Supermax and Kossan would also attract interest following the H1N1 flu virus as the government warned that many members of the public were letting their guard down over the outbreak.

So far, four-related deaths have occurred while more schools, colleges and a nursing school were closed as student fell ill. According to the Health Ministry, there were 36 new cases and as of yesterday, the total number of cases stood at 1,302 while 98% of them had recovered and 1% undergoing treatment.

KNM, which has hogged the most active list for several weeks, would continue to be on the investors' radar screen, especially after it signed a US$220 million deal in Chad.

Shares of The New Straits Times Press (M) Bhd (NSTP) and Utusan Melayu rallied to almost a 12-month high on July 30, fuelled by speculation of a corporate exercise involving the two companies.

The two media companies could continue to see some trading interest on specualtion whethere there could be a relook at a merger of their operations or whether NSTP could be taken private.