Turkish Lira Declines, MAHB & IHH Shares Receive affected as well - Kakiforex.com - Financial Market Media No. 1 in the World Turkish Lira Declines, MAHB & IHH Shares Receive affected as well Turkish Lira Declines, MAHB & IHH Shares Receive affected as well

March 22, 2021

Turkish Lira Declines, MAHB & IHH Shares Receive affected as well

 Malaysia Airports Holdings Bhd (MAHB) and IHH Healthcare Bhd, which have operations in Turkey, came to the fore in the morning trading session after the share prices of both companies declined following the fall of the Turkish lira overnight.


Both counters were among those who recorded the biggest losses in the Bursa Malaysia session this morning.


MAHB shares fell 13 sen or 1.96% to RM6.51 after the opening of the trading session. Despite recovering its share loss to trade at RM6.53 at 10.45am, the counter was still down 11 sen or 1.66% with 210,100 shares traded.


At RM6.53, MAHB has a market capitalization of RM10.84 billion.



Meanwhile, IHH shares declined by 18 sen or 3.28% to RM5.30 before surging to RM5.32, bringing its market capitalization to RM46.71 billion with 1.44 million shares traded.


MAHB operates the Istanbul Sabiha Gokcen International Airport (Istanbul SGIA) while IHH manages the Acibadem Healthcare group, one of the leading private healthcare providers in Turkey.


Istanbul SGIA saw its passenger numbers drop due to the Covid-19 pandemic by 52.1% to 17.2 million passengers last year compared to 35.95 million passengers the previous year.


The Turkish lira plunged to a daily low of 16% and saw sales interest renewed after a report by Turkish President Recep Tayyib Erdogan sacked its central bank governor Naci Agbal.


As of writing today, the currency is trading at 8.1074 after moving between 8.0426 and 8.4706. Over the past year, the Turkish lira has fallen by 24% from 6.56.