KUALA LUMPUR: Shares of AirAsia snapped the recent losing streak which saw it hitting fresh record lows as some bargain hunting emerged for the battered down counter on Thursday.
At 9.24am, the low-cost carrier was up 2.5 sen to 80.5 sen with 46 million shares done. As of Wednesday, year-to-date, the airline’s share price has dropped more than 70%.
For the second quarter ended June 30, 2015, the airline’s Indonesian affiliate, Indonesia AirAsia, recorded a revenue of 1,266.83 billion rupiah, down 16% year-on-year, which was in line with the 12% decrease in capacity and 18% drop in the number of passengers carried.
Meanwhile, the FBM KLCI rose 3.24 points to 1,583.61. Turnover was 315.17 million shares valued at RM173.67mil. There were 340 gainers, 124 losers and 147 counters unchanged.
Local funds had been shoring up the market to offset the selldown by foreign funds due to domestic issues, weakening ringgit and plunge in commodities including crude oil.
On Wednesday, foreign funds were net sellers at –RM301.5mil while local retailers were net sellers also at –RM12.9mil. However, the market continued to be supported by local funds which were net buyers at RM314.4mil.
Consumer stocks were mostly higher led by BAT which added 72 sen to RM60.72, Carlsberg gained 44 sen to RM11.60 but Dutch Lady
fell 18 sen to RM46.80 with just 100 shares done.
Petronas Dagangan added 30 sen to RM21.40 with 200 shares done. HLFG gained 22 sen to RM13.44 while Bursa added 14 sen to RM7.78 with 100 shares traded.
KL Kepong was the top performer among plantations, gaining 28 sen to RMM21.08 but Far East fell 30 sen to RM7.40 in rising volume.
Construction based TSR was down eight sen to 52 sen while property player Tambun Indah lost seven sen to RM1.36 in active trade.
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