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KUALA LUMPUR: Kawan Food’s share price rose to a high of RM2.58 on Friday after CIMB Equities Research initiated coverage of the frozen food producer with a target price of RM3.65.
PETALING JAYA: The recent slide of the ringgit, which had fallen 4.6% against the US dollar over the past one month, is helping boost investors’ appetite for shares in exporters. Investors are betting that these companies, mostly manufacturers, will benefit from increased sales. A weaker ringgit makes local produce more attractive to foreign buyers.