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B2B Asia News
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This is a B2B Cambodia Market Update for 11 October 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 0.74 points or 0.18% to 410.39.
- Total trade volume was up, with 53,121 shares changing hands at a total value of 340 million riel or around $83,706 US dollars.
- Two stocks were up on the main board. Grand Twins International led the market today, up 1.47% or 60 riel to 4,140 riel per share, while Pestech Cambodia was up 0.41% or 10 riel to 2,440 riel per share.
- On the downside, three stocks were down, with CAMGSM as the biggest loser of the day, dropping 0.41% or 10 riel to 2,440 per share, followed Phnom Penh Water Supply Authority was down 0.31% or 20 riel to 6,380 riel per share. Sihanoukville Autonomous Port was also down 20 riel to 11,460 riel per share.
- The rest of the main board remained flat, including MJQ Education, Acleda Bank, Royal Group Phnom Penh SEZ, and Phnom Penh Autonomous Port.
- On the growth board, both stocks were up, DBE Engineering increased 0.48% or 10 riel to 2,080 riel per share and JS Land was up 0.29% or 10 riel to 3,450 riel per share.
- ACLEDA Bank once again recorded the highest trade volume of the day with 35,038 shares changing hands at a total value of nearly 262 million riel or around $64,469 US dollars, making up roughly 64.8% of total shares traded on October 11th.
- Grand Twins International recorded the second highest trade volume of the day, however with a sizable gap from the highest, with only 6,206 shares changing hands at a total value of 25.5 million riel or roughly $6,303 US dollars, accounting for 11% of Friday’s trade volume.
- In other market news, Bloomberg reported that Thailand’s new government will restart negotiations with Cambodia to explore an offshore oil and gas field with at least US$300 billion worth of reserves that the two countries have been squabbling over since the 1970s.
- Prime Minister Paetongtarn Shinawatra, who took office in September, said the joint exploration is among her administration’s top 10 urgent goals as the country seeks to boost dwindling reserves, and contain electricity prices and a ballooning fuel imports bill.The two-countries earlier this year had also agreed to discuss how to fairly exploit the 26,000-square kilometre block that is estimated to contain about 10 trillion cubic feet of natural gas and 300 million barrels of crude oil.
- Exchange rate, the KHR to USD was strengthened to 4,063 riel per USD while the USD Index was slightly down to 102.77.
- Looking at global commodities, Oil retreated on Friday after settling higher the previous day, but prices remained set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites.
- Brent crude oil futures fell 94 cents, or 1.2%, to $78.46 a barrel. U.S. West Texas Intermediate crude futures slipped 86 cents, or 1.1%, to $74.99 per barrel.
- Gold climbed on Friday after a higher jobless claims report firmed bets for a Federal Reserve rate cut next month, while investors awaited U.S. Producer Price Index (PPI) data for further direction.
- Spot gold was up 0.5% at $2,642.46 per ounce but eased 0.4% for the week. Prices hit a record high of $2,685.42 last month. U.S. gold futures gained 0.8% to $2,660.30.
- Global stocks traded sideways on Friday as a stunning rally in Chinese shares paused and investors held back from placing more bets ahead of a much-anticipated update on fiscal stimulus from Beijing this weekend.
- At the time of Cambodia market closing, Stock futures were little changed on Friday morning, as investors looked ahead to a wholesale inflation reading and quarterly results from major banks.
- Futures tied to the S&P 500 inched lower by 0.04%, while Nasdaq 100 futures ticked down by 0.1%. Futures linked to the Dow Jones Industrial Average stood 25 points lower.
Watch the 11 October 2024 market update in Khmer below: