Monday, 10 December 2012

AirAsia dips on expectations of exit from KLCI

KUALA LUMPUR: Shares of AirAsia Bhd fell to a new 52-week low on Monday on expectations that it could exit the FBM KLCI 30-stock index though analysts had higher price targets for the low-cost carrier.

At 3.43pm, AirAsia was down four sen to RM2.72, the lowest since April 2011. There were 7.47 million shares done valued at prices ranging from RM2.71 to RM2.77.

The KLCI rose 11.20 points to 1,628.97. Turnover was 570.77 million shares valued at RM822.04mil. There were 259 gainers, 276 losers and 326 counters unchanged.

However, Hwang DBS Vickers Research had a Hold with a target price of RM2.90 while Deutsche also had a hold with a target price of RM3.06.

Affin Investment Research had an Add with a target price of RM3.70 on Nov 26.

Analysts said AirAsia and MMHE could be excluded from the KLCI and instead added to the FTSE Bursa Malaysia Mid 70 Index.

As at Nov 30, 2012, AirAsia's and MMHE's ranking by market value was at 36 and 39 respectively. 
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Oh no, AA seem like doesn't look good now....

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