10 September 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 10 September 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was down 0.61 points or 0.15% to 410.70.
• Total trade volume was very light, with only 36,708 shares changing hands at a total value of 250 million riel or $61,600 US dollars.
• Once again, no stocks were up on the main board, while six were down. The Phnom Penh Autonomous Port was the biggest loser of the day, down 1.47% or 200 riel to 13,400 riel per share, followed by Royal Group Phnom Penh SEZ, which was down 0.45% or 10 riel to 2,210 riel per share. 
• Other stocks down were the Phnom Penh Water Supply Authority, Grand Twins International, ACLEDA Bank and Pestech Cambodia.
• Two stocks on the main board MJQ Education and CAMGSM, meanwhile, remained flat.
• Over on the growth board JS Land was down 0.58% or 20 riel to 3,440 riel per share, while DBD Engineering remained flat.
   
• In other market news, the Phnom Penh Autonomous Port released a disclosure report on the company’s unaudited eight month revenue in 2024, which totaled over 27 million US dollars. This is an increase of 15% compared to the same eight month period in 2023.
   
• Exchange rate, the Khmer riel to USD strengthened to 4,067 riel per US dollar, while the US dollar index was up to 101.66.
• The dollar edged down on Tuesday before U.S. inflation data and the televised U.S. presidential debate, which could affect expectations for the interest rate outlook.
   
• Looking at global commodities, oil prices edged down on as weak Chinese demand offset U.S. supply disruptions from Tropical Storm Francine and as global oil oversupply risks continued to weigh on the market.
• Brent crude futures were down 32 cents, or 0.45%, to $71.51 US dollars a barrel.
• Gold prices were little changed as investors exercised caution ahead of a key U.S. inflation reading on Wednesday that could influence the U.S. Federal Reserve's policy decision next week. Spot gold eased 0.1% to $2,501.66 US dollars per ounce. 
• U.S. gold futures were little changed at $2,530.60 US dollars.
   
• Global shares steadied on Tuesday, struggling to draw momentum from a rally on Wall Street as concerns about faltering economic growth dampened investor sentiment, which also dented the oil price. U.S. stock index futures struggled for direction ahead of a crucial consumer price inflation report later in the week that could firm up bets on the size of the interest rate cut by the U.S. Federal Reserve on September 18.
• As of the time of the Cambodian market’s closing, Dow and S&P 500 were flat, while Nasdaq was down 0.23%.
• In tech stocks, Apple's shares were down more than 1% in premarket trading as Huawei's tri-fold smartphone was unveiled at a $2,800 dollar price point. Huawei seeked to extend its lead in the world's biggest smartphone market and steal the spotlight from Apple hours after it debuted a new iPhone.
• The iPhonemaker also lost its fight against an order by EU competition regulators to pay 13 billion euros in back taxes to Ireland as part of an EU crackdown against sweetheart deals between EU countries and multinationals.

Watch the 10 September 2024 market update in Khmer below: