Malaysia Airports Holdings Bhd (MAHB) saw its share price fall over 5% at the end of the June 5 trading day, a day after the stock was removed from the FBM KLCI’s 30 component stocks during a semi-annual review.
Closing at RM5.50 per share at the end of the trading day, with 8.4 million shares changing hands, this marked the stock falling 30 sen from yesterday’s closing price of RM5.80.
At RM5.50, MAHB marked a drop of RM2.08 or over 27% year to date, with the stock having closed on Jan 2 at RM7.58.
However, fellow dropout AMMB Holdings Bhd saw a dip of 2 sen, ending the day at RM3.24 with 3.47 million shares traded.
This is in spite of the neutral outlook on the banking sector by several research houses, namely Affin Hwang Capital, MIDF Research and Maybank Kim Eng, with all three cautioning headwinds due to the Covid-19 pandemic and the measures taken to lessen the impact on Malaysians, namely the loan moratorium.
In fact, RM3.24 per share actually marks a recovery for AMMB, as the stock had fallen to a one-year low of RM2.90 on March 23, a week after the movement control order came into effect.
MAHB and AMMB were replaced by Telekom Malaysia Bhd and KLCC Prop & REIT in the FBM KLCI’s component stocks. – June 5, 2020
