Malaysian shares rebounded to end in green on Wednesday as investor sentiment was lifted by easing inflation in the country.

The benchmark FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 14.94 points to end 1.01% higher at 1,501.19. The day range was between 1,493.26 and 1,501.19.

In economic news, Malaysia's consumer prices rose 1.4% in March, slower than the 1.5% expansion in the month prior, the Department of Statistics Malaysia said. Core inflation, which excludes volatile items, rose 1.9% year over year in March, unchanged from the month prior, the data showed.

In corporate news, Reach Ten's (KLSE:REACHTEN) initial public offering (IPO) shares were oversubscribed by 1.85 times, ahead of its Main Market listing. The crude oil exploration company received 2,706 applications for 142.7 million shares, worth 74.2 million ringgit from the Malaysian public.

Shares of Solid Automotive (KLSE:SOLID) gained over 3% after it completed the acquisition of a freehold industrial land from Top Quality Glove. The land, measuring roughly 1.897 hectares (4.687 acres) and located in Selangor Darul Ehsan, Malaysia, was acquired for a total purchase price of roughly 17.0 million ringgit.

Shares of HLT Global (KLSE:HLT) dropped about 7% after its unit, HL Advance Technologies was sued by Suzhou Wuzhong Conveying Chain for 939,919.7 ringgit in unpaid dues, plus interest and legal costs. The dispute involves the supply of conveyor chains under four purchase orders, where the defendant only paid a 30% deposit for two.