AirAsia’s shares have plunged significantly after one of its passenger planes, en route from Indonesia to Singapore, went missing with 162 people on board.
On Monday, at the start of the trade, shares of the Malaysia-based budget airline fell as much as 11.6 percent to 2.56 ringgit, its lowest point since November 28.
The biggest tumble in three years came after Indonesia resumed its search for the missing Flight 8501 early on Monday.
Malaysia-based budget carrier AirAsia owns 49 percent of Indonesia AirAsia, with local investors holding the rest.
The disappearance of the plane is the third tragedy for Malaysian airliners in a year with two disappearances and one crash.
Malaysia Airlines Flight MH370 with 239 people onboard vanished from radars en route from Kuala Lumpur to Beijing in March. No debris has been found although many say it may be somewhere in the southern waters of the Indian Ocean.
Another Malaysian plane, MH17 was shot down when it was flying over a conflict zone in eastern Ukraine, with all 298 people onboard killed.
