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B2B Asia News
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This is a B2B Cambodia Market Update for 10 May 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video above.
- The Cambodia Securities Exchange (CSX) Index extended its winning streak for the third straight trading day, rising 0.84 points to 414.58
- Volume light at 224,111 shares trading hands with a value of USD $259,000.
- Mengly J. Quach Education was today’s percentage gainer, up 30 Riel per Share to 2,210 Riel per share, a gain of 1.4 per cent. The stock was the volume leader with 113,919 shares traded, continuing its upward momentum since its positive earnings report.
- Sihanoukville Autonomous Port lost 60 Riel per share or 0.5 per cent to 12,400 Riel per Share on very light volume of 929 shares traded.
- Today’s volume reflects lack of intensity and liquidity in the market.
- Of the 11 stocks traded on the Main Boad, 6 traded under 1,000 shares for the day.
- In company news Mengly J. Quach Education released a disclosure statement “The increase in Revenue, Operating Profit and Net Profit.” In the disclosure the company compared its financial performance between Quarter 1, 2024, and Quarter 1, 2023, which demonstrated positive and significant growth. The revenue for Quarter 1, 2024, grew at a rate of 16.57 per cent, compared to the revenue of Quarter 1, 2023. Operating profit rose 21.03 per cent increase, while net profit increased 6.56 per cent. The growth in Revenue and Operating Profit was attributed to student enrollment and efficiency in expense utilization.
- Sihanoukville Autonomous Port informed investors and the public that their 1st Quarterly Report in 2024 will be delayed to May 30th, 2024 due to the busy schedule of His Excellency Delegate of The Royal Government in charge as Chairman & CEO and Chairman of the Board of Directors who was invited to attend the meeting at The Council of Ministers on May 10th, 2024, which is the date for the Board of Directors Meeting, now moved May 16th, 2024.
- In regional news, Amazon Web Services on Tuesday said it will pump another USD $9 billion into Singapore over the next five years to grow its cloud infrastructure and services in the country. The firm has trained over 400,000 people in Singapore in cloud skills since 2017 and stated it will “continue to invest in upskilling and improve productivity” across the country.
- AWS laid out plans in October 2022 to launch a region in Thailand with a $5 billion investment over 15 years and in March last year said it will commit at least USD $6 billion by 2037 into a new region in Malaysia. AWS had opened a region in Jakarta in December 2021.
- Last week, Microsoft said it will make AI- and cloud-related investments in several Southeast Asian countries – Malaysia, Thailand and Indonesia – as it doubles down on the region.
- This is underlines the importance of U.S. investment, especially tech, especially in the tech sector, which presently Cambodia is not participating.
- KHR Riel to USD unchanged at 4076 on a flat USD Index of 105.22.
- Brent Crude continues its rise, up 0.44 cents to 84.32 a barrel.
- Gold is rallying on hopes of a Fed Rate cut, hitting its highest point in two weeks at USD $2,379,20, up by USD $38.80.
- Wall Street had a big up day yesterday, rising 332 points to 39,387.76 on a positive jobless claims report which renewed hopes of a fed rate cut.
- Dow Futures up 118 pointing to a higher New York open.
Watch the 10 May 2024 market update in Khmer below: