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Strong ringgit raises appeal of select auto, telecom shares

Analysts expect further upside as cheaper imported parts boost earnings prospect

DiGi.Com is expected to be one of key beneficiaries of stronger ringgit.   © Reuters

KUALA LUMPUR (Nikkei Markets) -- Shares of select Malaysian auto assemblers and telecom companies are likely to extend gains on the back of a strengthening ringgit that has turned key imported inputs cheaper, bolstering earnings prospects of select companies.

Shares of Axiata Group and Tan Chong Motors, which have gained 5.2% and 23% respectively this year, are poised for further upside through 2018 if the ringgit continues to rally, analysts said.

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