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B2B Asia News
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This is a B2B Cambodia Market Update for 11 November 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 0.5 points or 0.12% to 401.01.
- Total trade volume was down from Friday, with 83,863 shares changing hands at a total value of 406.5 million riel or approximately $99,580 US dollars.
- On the main board, only one stock was up, while five were down. The one stock up was Grand Twins International, which was up 9.09% or 400 riel to 4,800 riel per share.
- On the downside, Pestech Cambodia was the biggest loser of the day, down 2.07% or 50 riel to 2,370 riel per share, followed by Royal Group Phnom Penh SEZ, which was down 1.34% or 30 riel to 2,210 riel per share.
- Other stocks down were CAMGSM, the Sihanoukville Autonomous Port, and the Phnom Penh Autonomous Port.
- Meanwhile, the Phnom Penh Water Supply Authority, ACLEDA Bank and MJQ Education remained flat.
- Over on the growth board, both DBD Engineering and JS Land stayed flat at 2,060 riel and 3,500 riel per share respectively.
- ACLEDA Bank once again recorded the highest trade volume of the day, with 29,963 shares changing hands at a total value of 209.3 million riel or over $51,000 US dollars, making up roughly 34% of total shares traded on November 11th.
- Grand Twins International recorded the second highest trade volume of the day with 24,432 shares changing hands at a total value of 114.7 million riel or over $28,000 US dollars, accounting for around 28% of Monday’s trade volume.
- In other market news, JS Land released a disclosure report announcing a decrease in revenue in Q3 of 2024. According to the report, as of September 30, JS LAND recorded a net profit after tax of 416.6 million riel, which is a 96.76% decrease compared to Q3 of 2023. The reason the company gives for this decrease is that during the third quarter of 2023, JS Land recorded a spike in revenue, operating profit and net profit from its completed development and sales of ‘The Garden Residency 2’ condominium project. In contrast, Q3 of 2024 did not have a similar corresponding major development project coming to an end and bringing new revenue in, hence, the large quarter on quarter discrepancy.
- Exchange rate, the KHR to USD strengthened to 4,059 riel per USD, while the USD index was up to 105.34.
- Looking at global commodities, Oil prices were little changed on Monday as the threat of supply disruptions from a U.S. storm eased and after China's stimulus plan disappointed investors seeking fuel demand growth in the world's No. 2 oil consumer.
- Brent crude futures rose 4 cents to $73.91 US dollars a barrel. The benchmarks fell more than 2% on Friday.
- Gold prices fell for a second consecutive session as investors awaited U.S. economic data and comments from U.S. Federal Reserve officials this week for more clarity on the future direction of U.S. interest rates.
- Spot gold dropped 0.5% to $2,670.37 US dollars per ounce, U.S. gold futures fell 0.7% to $2,677 US dollars.
- As of the time of the Cambodian market’s closing, U.S. stock futures were heading higher, building on the record highs reached last week. Dow Jones Industrial Average futures added 80 points, or 0.2%. S&P 500 futures were gaining 0.2% and Nasdaq 100 futures increased 0.3%.
- All three indexes finished at all-time highs Friday after a busy few days in which Donald Trump, who is widely seen as good for company earnings, won the presidential election, and the U.S. Federal Reserve lowered interest rates.
- The S&P 500 had its best week in more than a year. Traders will now look ahead to new inflation data and a string of earnings from companies such as Home Depot and Shopify.
Watch the 11 November 2024 market update in Khmer below: