AirAsia Group volume spikes as stock tops RM1 for first time in five months

AirAsia Group volume spikes as stock tops RM1 for first time in five months
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KUALA LUMPUR (Sept 23): AirAsia Group Bhd’s share-trade volume spiked to 104.35 million today from 6.84 million yesterday while the stock’s price rose past RM1 for the first time in over five months as investors cheered Malaysia’s planned tourism spots reopening which offers recovery hope for the beaten-down aviation sector due to Covid-19-driven movement restrictions.

On Bursa Malaysia today, budget airline AirAsia Group’s share price closed 7.5 sen or 8.11% higher at RM1 after rising to an intraday high of RM1.01.

AirAsia Group’s intraday high share price at RM1.01 today is the highest since April 9, 2021, when the stock’s price closed at RM1.02.

Over the last one year, the stock’s price had risen to current levels from its closing price of 65 sen on Sept 24, 2020.

Meanwhile, AirAsia Group’s share-trade volume at 104.35 million today is the highest in over six months, possibly, since March 16, 2021, when the stock's volume stood at 124.84 million.

Yesterday, news reports quoting Prime Minister Datuk Seri Ismail Sabri Yaakob said the Special Committee on Pandemic Management agreed to allow the opening of tourism centres, islands, and areas as well as cross-state travel when the country's adult population vaccination rate against Covid-19 reaches 90%.

It was reported that Ismail Sabri said the rate of vaccination is based on the data and analysis carried out by the Ministry of Health.

As of yesterday (Sept 22), 81% of Malaysia’s adult population had been fully vaccinated against Covid-19, according to the latest updates on Facebook today by the country's Special Committee for Ensuring Access to Covid-19 Vaccine Supply, citing data from the Covid-19 Immunisation Task Force.

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