Malaysian Shares Rebound Ahead of Bank Negara's Policy Rate Decision; Kanger International Soars 50%

Malaysian shares ended in the green on Wednesday, ahead of central bank's overnight policy rate decision. Investor sentiment turned positive despite a broadly negative regional performance. The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 0.68 points to end 0.04% higher at 1,683.61. Bank Negara is widely expected to keep its overnight policy rate (OPR) unchanged at 2.75% on Thursday, with economists surveyed and Reuters forecasting no change. In corporate news, shares of Kanger International (KLSE:KANGER) surged 50% on close today after it priced its private placement shares at 0.0244 apiece. Paragon Globe (KLSE:PGLOBE) unit Paragon Globe Properties completed the acquisition of three land parcels in Johor, Malaysia, for 11.5 million ringgit in cash. Shares ended flat on Wednesday.