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AirAsia Group Shares Jump 24% as Oil Price Crash Follows US Midterms

RaymondRates.my2 min read

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AAGBAirAsia Group

AirAsia Group Berhad shares jumped 24% to 56.5 sen by mid-morning on Thursday, with sister company Capital A up 15%, as a two-day crash in oil prices lifted airline stocks and dragged down energy counters on Bursa Malaysia. These are intraday prices, not a close.

Why is AirAsia’s share price jumping today?

Live chart: AirAsia Group (5238)
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  • AAGB traded at 56.5 sen at 11.40am, up 24.2% from Wednesday’s close. Capital A rose 15.2% to 26.5 sen, both on heavy volume (Yahoo Finance).
  • Brent crude settled Wednesday at US$94.62, down 8.7% overnight, after US Vice-President JD Vance blamed the Iran war for the midterm loss (CNBC).
  • Energy counters fell the other way. Hengyuan Refining dropped 16% to RM3.04 and Hibiscus Petroleum fell 7.8% to RM1.90, both intraday (Yahoo Finance).
A red and green candlestick trading chart trending downward on a dark screen
Brent crude has fallen for a fourth straight session, its lowest level since 31 August. · Photo: Unsplash

Will the oil-price drop hold?

“There will be more volatility ahead.”
— June Goh, oil analyst at Sparta Commodities, Reuters, 5 Nov 2026
  • Some traders call the sell-off overdone. CIBC’s Rebecca Babin called it overdone; Lipow Oil’s Andy Lipow said markets read the election as a nudge toward a deal (CNBC).

Track AAGB and Capital A live on the Bursa heat list, or read the 21% plunge AirAsia took in September on the opposite story, high fuel costs with no hedge.

What to watch

  • Thu 5 Nov, afternoonBank Negara’s overnight policy rate decision, due later today; most economists expect no change (The Star).
  • Not yet reportedAny US-Iran diplomatic development. Analysts quoted by Reuters and CNBC say oil’s war-risk premium could snap back without a durable de-escalation.
Not financial advice. This is general information on AirAsia Group Berhad’s (5238), Capital A Berhad’s (5099), Hengyuan Refining’s (4324) and Hibiscus Petroleum’s (5199) share prices, checked intraday around 11.40am on 5 November 2026. It is not a recommendation to buy, hold or sell any shares, and Rates.my does not issue price targets or forecasts. Confirm current prices with your broker before acting.

Sources

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