I am curious about this too. I have bought quite a large holding of AIA during these past few months and traded a few short term spikes but yet the medium term keeps trending down.
It's a monopoly airport that reported pretty good earnings (if you take away the writedown, it's operating profit actually increased from last year).
The current price is basically book value.
I've made a lot of money past year trading during the recession but AIA is my biggest loser. I have like a 10k unrealised loss on this company. I fail to understand why there seems to be so little buyer interest in this company compared with other stocks and there seems to always be someone dumping large volumes of AIA shares.