Investing.com - Malaysian Airline System Bhd (KL:MASM) shares opened down 16% Friday following the loss of Flight 17 in the Ukraine-Russian border area.
Malaysian Airline, which operates under the brand Malaysia Airlines, confirmed late Thursday that it lost contact with the plane, which carried 298 people including crew members. The plane crashed in the battle-torn east Ukraine region of Donetsk, where U.S. intelligence agencies say it was struck by a ground-to-air missile.
The stock opened at 0.19 ringgit ($0.06) a share, a level last seen on June 26, and hit a low of 0.185 ringgit on the Malaysian stock exchange. The country''s benchmark index FTSE Bursa Malaysia KLCI fell 0.5%.
The latest incident comes as the airline is still reeling from the high-profile disappearance of Flight 370 more than four months ago.