KUALA LUMPUR, March 10 — Malaysian Airline System Bhd shares headed for the biggest decline since November 2012 after the national carrier’s flight MH370 disappeared en-route from Kuala Lumpur to Beijing two days ago.
The stock sank 12 per cent to 22 sen at 9:01am local time, the lowest level on record. The benchmark FTSE Bursa Malaysia KLCI Index retreated 0.5 per cent, while the ringgit weakened 0.5 per cent against the dollar.
Malaysia stepped up efforts to locate the jet that may have crashed in the Gulf of Thailand with 239 people on board, focusing on oil slicks with officials examining television footage. The prospect of terrorism arose after Austria and Italy said passports used by two male passengers were stolen from their citizens.
Vietnamese searchers looking for the missing Boeing 777-200 said they found a suspected window or door fragment.
Le Van Minh, a Vietnamese coast guard commander, said in a telephone interview today that the fragment is suspected to be part of a plane’s emergency door or window, and that rough seas and darkness were preventing crews from retrieving it. Ships are still searching the area for the piece, which was spotted by helicopter 90km south of Vietnam’s Tho Chu Island, Minh said. — Bloomberg View
