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B2B Asia News
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This is a B2B Cambodia Market Update for 10 December 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 1.43 points, or 0.36% to 400.03.
- Total trade volume was down with 48,659 shares changing hands at a total value of 244 million KHR or approximately $760,700 US dollars.
- On the main board, only one stock was up. Grand Twins International rose 0.77% or 40 KHR to 5,220 KHR per share.
- On the downside, the biggest loser of the day was CAMGSM, down 0.82% or 20 KHR to 2,420 KHR per share, followed by Royal Group Phnom Penh SEZ, which was down 0.45% or 10 KHR to 2,200 KHR per share.
- Meanwhile the rest of the main board, including Phnom Penh Water Supply Authority, Phnom Penh Autonomous Port, Sihanoukville Autonomous Port, Pestech Cambodia and MJQ Education, remained flat.
- Over on the growth board, DBD Engineering dropped 0.49% or 10 KHR to 2,030 KHR per share while JS Land remained flat at 3,430 KHR per share.
- ACLEDA Bank recorded the highest trade volume of the day, with 20,822 shares changing hands at a total value of 143.7 million KHR or $35,700 US dollars, roughly 43% of total shares traded on December 10th.
- DBD Engineering recorded the second highest trade volume of the day with 7,102 shares changing hands at a total value of 14 million KHR or $3,500 US dollars, making up 14.5% of Tuesday’s trade volume.
- In other market news, the Phnom Penh Water Supply Authority reported a quarter on quarter decrease in revenue by 15.48%, a decrease in operating profit by 46.36%, and a decrease in Net Profit by 45.82%, in the third quarter of 2024.
- The company attributes the decrease in Revenue, Operating Profit, and Net Profit mainly to the increase in the rate of Non-revenue water (NRW) to 21.59% in Phnom Penh and Takhmao province, for which the company says was caused by a number of reasons including some water leakage at the Bak Kheng Water Treatment Plant and certain bias levels discovered in the water meters of old water treatment plants.
- Exchange rate, the KHR to USD strengthened to 4,022 KHR per USD, while the USD index was up to 106.41.
- Looking at global commodities, oil prices slipped on Tuesday as concerns eased about the fallout from Syrian President Bashar al-Assad's overthrow, but the market found support in China's vow to ramp up policy stimulus, which could boost the top global crude buyer's demand.
- Brent crude futures fell 26 cents, or about 0.4%, to $71.88 US dollars per barrel.
- Gold prices gained, helped by escalating geopolitical tensions in the Middle East and expectations of a U.S. rate cut this month, with key U.S. inflation data later this week grabbing investors' attention.
- Spot gold was up 0.2% to $2,665.04 US dollars per ounce. Bullion hit a 2-week high in the previous session.
- U.S. gold futures rose 0.1% to $2,687.40 US dollars.
- U.S. stock futures were falling early Tuesday as investors became more cautious ahead of the final inflation reading of the year. The stock market’s record rally stalled Monday and it looked set to remain on pause Tuesday.
- As of the time of the Cambodian market’s closing, Futures on the S&P 500 were 0.1% lower ahead of the open, Nasdaq 100 futures also fell 0.1% while Dow Jones Industrial Average futures fell less than 0.1%.
- All three major indexes closed lower Monday as the S&P 500 and Nasdaq Composite fell back from record highs and Dow dipped for a third consecutive day.
- As 2024 approaches the end, investors are likely assessing the strong gains this year and whether they can continue in the coming weeks in the form of a Santa rally.
- The S&P 500 is up 27%, while the tech-heavy Nasdaq Composite is up 31% in 2024.
Watch the 10 December 2024 market update in Khmer below: