Malaysian shares ended in the green on Wednesday, tracking regional gains. The investor interest rebounded amid easing trade tensions.
The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 13.10 points, to end 0.85% higher at 1,549.90. The day range was between 1,536.56 and 1,549.90.
Malaysia officially imposed definitive anti-dumping duties on imports of Polyethylene Terephthalate (PET) from China-ranging between 2.29% and 11.74%, and from Indonesia at 37.44%, effective immediately. The Ministry of Investment, Trade and Industry (MITI) said the decision follows the conclusion of its months-long probe into alleged unfair trade practices.
In corporate news, shares of Malaysian Genomics Resource Center (KLSE:MGRC) dropped 6% after its chief operating officer Muhammad Badri Bin Hussin resigned on Monday, May 5, citing personal commitment.
Shares of Able Global (KLSE:ABLEGLOB) gained over 3% after Glass Lewis issued a controversy alert ahead of the company's May 27 annual meeting, citing serious ESG-related governance concerns. Executive Chair NG Keng Hoe is facing a criminal charge for misappropriation in his personal business affairs, not related to the company. The company's chief executive officer, Edward Goh Swee Wang, was investigated but cleared.
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