Friday, 4 May 2012

AirAsia advances in active trade post share-swap being called off

KUALA LUMPUR (May 4): Shares of Air Asia Bhd continued to see heavy trading on Friday as after the reversal of its share-swap agreement with Malaysian Airlines System Bhd (MAS) and the resignation of Tan Sri Tony Fernandes and Datuk Kamarudin Meranun from MAS' board.

At 4.15pm, shares of Air Asia rose 2 sen to RM3.62 with 12.6 million shares traded in.

Volume traded of the stock has been on the high side since the share-swap reversal announcement on Wednesday,May 2.

On May 3, Air Asia's volume traded at 13.8 million compared to only 1.53 million shares traded on Monday, Apr 30.

Meanwhile, MAS rose 1 sen to RM1.25 with 2.6 million shares traded in on Friday.

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