Malaysian Shares Extend Winning Streak Ahead of Interest Rate Decision
Malaysian shares ended in green on Wednesday, extending gains in the last three sessions, ahead of the interest rate decision later this week.The FTSE Bursa Malaysia KLCI added 9.44 points to end 0.5% higher at 1,756.87. The day range was between 1,746.80 and 1,760.30.In local news, New Zealand is considering storing its fuel in Malaysia amid the impact of the Iran war, Bloomberg News reported.In corporate news, Bus Cap (KLSE:BUSCAP) is seeking to raise 24.7 million ringgit via an initial public offering on the ACE Market of Bursa Malaysia. The bus manufacturer's IPO entails a public issue of 107.3 million new shares at 0.23 ringgit each, and an offer for sale of 19.2 million shares.Magni-Tech Industries (KLSE:MAGNI) unit Magni Land signed an agreement to acquire a freehold land parcel in Penang, Malaysia. Shares ended 1% higher on Wednesday.Inspace Creation (KLSE:INSPACE) is slated to debut on the ACE Market on Friday, May 8.
