By
B2B Asia News
on
This is a B2B Cambodia Market Update for 1 November 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 0.43 points or 0.11% to 404.39.
- Total trade volume was up but remained light with only 47,109 shares changing hands at a total value of 259.7 million riel, or approximately $63,900 US dollars.
- On the main board, five stocks were up. Leading the market was the Phnom Penh Autonomous Port, which was up 0.60% or 80 riel to 13,440 riel per share, followed by MJQ Education, which was up 0.49% or 10 riel to 2,040 riel per share. Other stocks up included CAMGSM, Pestech Cambodia and the Sihanoukville Autonomous Port.
- On the downside, Grand Twins International was the biggest loser of the day, down 1.87% or 80 riel to 4,200 riel per share, followed by ACLEDA Bank, which dropped 1.11% or 80 riel to 7,100 riel per share. Royal Group Phnom Penh SEZ was also down 0.45% or 2,210 riel per share
- One stock, the Phnom Penh Water Supply Authority, meanwhile stayed flat.
- Over on the growth board, both stocks were up. DBD Engineering was up 0.49% or 10 riel to 2,050 riel per share, while JS Land was up 1.15% or 40 riel to 3,510 riel per share.
- ACLEDA Bank recorded the highest trade volume of the day, with 25,883 shares changing hands at a total value of 184.8 million riel or around $45,500 US dollars, making up roughly 54% of total shares traded on November 1st.
- CAMGSM recorded the second day highest trade volume of the day, with 11,639 shares changing hands at a total value of 28.5 million riel, or roughly $7,000 US dollars, accounting for around 24% of Friday’s trade volume.
- In other market news, Cambodia Airways, a Cambodian airline primarily serving Southeast Asia and mainland China, has increased its proposed deal size for a potential NASDAQ IPO with the latest filing in October 2024 indicating the Cambodia-based airline plans to now raise $45 million US dollars by offering 10 million shares at a price range of $4 to $5 dollars. This is six times more in proceeds than previously anticipated.
- However, the airline is still navigating the regulatory landscape with its SEC filings and preparing for its anticipated listing. There are no guarantees regarding approval for its shares on NASDAQ, and market analysts remain cautious about its investment potential since we first reported on their intentions to list in June 2024.
- The General Department of Customs and Excise (GDCE) also recently launched the first trial phase of its digitised Intellectual Property Rights Recordation System (IPRRS). This system allows customs officers nationwide to quickly access essential import information related to intellectual property (IP) law infringements through a GDCE web portal, helping to prevent the illegal importation of counterfeit goods and parallel imports into the country.
- Exchange rate, the KHR to USD weakened to 4,064 riel per USD, while the USD index was slightly down to 104.09.
- Oil prices extended gains on Friday, climbing more than $1 dollar a barrel to pare weekly losses, after there were reports of Iran preparing a retaliatory strike on Israel from Iraq in the coming days. Brent crude futures were up 1.9% at $74.20 US dollars a barrel.
- Gold prices edged up, while investors braced for U.S. payrolls data that could provide further clues about the U.S. Federal Reserve's interest rate outlook.
- Spot gold rose 0.2% to $2,748.40 US dollars per ounce. Prices ended lower on Thursday after hitting a record high of $2,790.15 US dollars.
- U.S. gold futures rose 0.4% to $2,758.70 US dollars.
- As of the time of the Cambodian market’s closing, U.S. Stocks headed for a losing week with the three major indexes on track to post losses this week. The Nasdaq Composite slipped more than 2%. The S&P 500 dropped 1.8%, while the Dow shed 0.8%.
Watch the 1 November 2024 market update in Khmer below: