AirAsia closed higher at 1.55..

Oil price did hit 70 per expected. The increment was due to the Hurricane Katrina's rampage across U.S Gulf Coast and Mexico Gulf. I view this scenario as a short term problem which based on high demand caused by fear. How true is that, is remain uncertain. We are yet to see the real impact of this hurricane on oil supply. Only the very very high demand(stimulated by fear)!
Locally, AirAsia and MAS are the 2 companies that are badly hit by the high oil cost. As expected, the share prices for these 2 companies keep on dropping. MAS also had recently reported a big loss this quater which is bad enough that it needs to put some blame to AirAsia. AirAsia in other hand, still marked a profit this quarter. However, the lower profit had decreased the public interest to keep their AirAsia's shares. In my opinion, AirAsia is a growing company and should be treated as one. I salute this company because it still able to declare a profit while the other had to declare a loss. If the oil price did not increase, things will certainly be much better.