UOB Kay Hian says AirAsia euphoric rise overdone

- AFP

PETALING JAYA: Following the surge in AirAsia Bhd’s share price, which has more than doubled year-to-date, UOB-Kay Hian Research has downgraded the budget carrier to a “sell”, as it says “the euphoric rise is overdone”.

AirAsia shares closed yesterday at RM3.19, its highest in more than three years. Year-to-date, its shares have gained 147%.