Malaysian shares ended in red on Wednesday, extending losses from the previous session on profit taking. The investors remained cautious and are keeping one eye on more updates from Donald Trump's trade war.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, shed 2.68 points, to end 0.18% lower at 1,523.48. The day range was between 1,523.48 and 1,532.80.

In economic news, Malaysia's producer price index (PPI) slid 3.4% year on year in April, faster than the 1.9% drop in the preceding month, the Department of Statistics Malaysia said. The PPI measures the average change in the prices charged by businesses in the manufacturing industry.

Malaysia's terms of trade slid 0.3% month-on-month to 119.1 points in April, the Statistics Department said. However, the terms of trade rose 4.5% from 114 points in April 2024.

Southeast Asian leaders have agreed that any bilateral trade deals with the US should not harm fellow ASEAN economies, Reuters reported Tuesday, citing Malaysian Prime Minister Anwar Ibrahim's address after a regional summit in Kuala Lumpur.

In corporate news, shares of MN Holdings (KLSE:MNHLDG) gained about 2% after its unit MN Power Transmission bagged a deal worth 52.5 million ringgit for the design, supply, installation, testing, commissioning, and maintenance of Phase 2 of a consumer landing station for a data center in Southern Malaysia.

Shares of IGB (KLSE:IGBB) slid over 2% on close after it posted a profit attributable to owners of 89.1 million ringgit in the first quarter, plunging from 185.3 million ringgit a year earlier.

Tenaga Nasional's (KLSE:TENAGA) profit attributable to the owners rose to 1.06 billion ringgit in the first quarter from 715.7 million ringgit a year ago.