Short selling of AirAsia X shares suspended by Bursa

KUALA LUMPUR: Bursa Malaysia has suspended the short selling of AirAsia X Bhd’s (AAX) shares for the rest of the day.

The suspension was made after airline’s stock dropped more than 15%, or 15 sen, from the reference price.

“The short selling under intraday short selling (IDSS) will only be activated the following trading day, on March 4, at 08:30 am,” Bursa Malaysia said.

ALSO READ: AirAsia X records net profit of RM366.5mil in FY23

AAX, which resumed its trading at 2.30 pm, fell 11.76%, or 20 sen to RM1.50 with 20.04 million shares traded at 3.08 pm. The trading in securities relating to AAX was halted earlier from 11.41 am.

In the fourth quarter ended Dec 31, AAX posted a net profit of RM27.4mil, or earnings per share of 6.10 sen against RM153.5mil, or 37.00 sen a year ago.

Revenue for the quarter rose to RM818.2mil versus RM339.3mil in the same period in the previous year.

For the full year, AAX posted a net profit of RM366.5mil on a higher revenue of RM2.5bil.