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B2B Asia News
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This is a B2B Cambodia Market Update for 12 August, 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down by 3.05 points or 0.74% to 411.85
- Total trade volume was down, with only 39,052 shares changing hands at a total value of roughly 209.2 million Khmer riel or around $51,000 US dollars.
- Most stocks were down both on the main board and growth board. On the main board, only one stock was up, Pestech Cambodia was up 0.41% or 10 riel to 2,470 riel per share. MJQ Education and the Phnom Penh Water Supply Authority remained flat.
- Of the six stocks down, Grand Twins International was the biggest loser of the day, dropping 3.7% or 140 riel to 3,550 riel per share, followed by Phnom Penh Autonomous Port, down 1.34% or 200 riel to 14,700 riel per share.
- Other stocks down were Royal Group Phnom Penh SEZ, CAMGSM, Sihanoukville Autonomous Port and ACLEDA Bank.
- On the growth board, JS Land was down 1.44% or 50 riel to 3,420 riel per share and DBD Engineering was down 0.48% or 10 riel to 2,080 riel per share.
- ACLEDA Bank recorded the highest trade volume of the day with 18,850 shares changing hands at a total value of 140 million riel or around $34,000 US dollars, making up around 45% of the total trade volume on August 12th. Royal Group Phnom Penh SEZ recorded the second highest trade volume of the day with 12,052 shares changing hands at a total value 27.6 million riel or $6,700 US dollars, making up roughly 29% of Monday’s trade volume.
- In the other market news, Royal Group Phnom Penh SEZ announced a decrease in revenue for the current quarter of 2024, compared to the same quarter in 2023. Revenue this quarter reached 11.8 million riel, which is roughly 60% less than the 29.6 million riel recorded in the same quarter in 2023. The company announced that its operating profit and the net profit are also lower, with the main reason for these revenue and profits drops being that there were no land sales made during this quarter, leading to a loss.
- The Khmer riel to USD strengthened at 4,097 riel per US dollar, while the US dollar index was slightly down to 103.18.
- Oil prices rose for a fifth consecutive session on Monday, extending gains from the previous week's more than 3% rise, as U.S. recession fears eased while geopolitical tensions in the Middle East supported prices.
- Brent crude futures were up 73 cents, or 0.9%, to $80.39 US dollars a barrel, while U.S. West Texas Intermediate crude futures rose 88 cents, or 1.2%, to $77.72 US dollars.
- Several trade sources have said Saudi crude oil exports to China are set to fall in September to about 43 million barrels, citing monthly allocations for term buyers.
- September exports from the world's top exporter to China are estimated to slip by about 3 million barrels from a revised volume of about 46 million barrels in August, the same sources have said.
- Gold prices inched higher on U.S. interest rate cut optimism and brewing geopolitical tensions, while traders looked to key U.S. inflation data due later this week for more monetary policy cues.
- Spot gold rose 0.5% to $2,442.38 US dollars per ounce. U.S. gold futures gained 0.3% at $2,481.50 US dollars.
- European stocks and U.S. futures held steady on Monday, while the yen slipped as a holiday in Japan removed one source of recent volatility, and investors looked ahead to U.S. and Chinese economic data.
- Stock markets tumbled on Monday last week, driven by a plunge in Japan, on the back of weak U.S. jobs numbers and the unwinding of a highly popular Japanese yen trading strategy.
- Yet some stronger-than-expected U.S. data helped allay fears of a global slowdown and stocks recovered almost all of their losses by Friday.
- Investors were looking ahead to U.S. consumer price index data for July on Wednesday, which is expected to show month-on-month inflation ticked up to 0.2% after a minus 0.1% reading in June. Retail sales data is due on Thursday.
Futures for the U.S. S&P 500 ticked up 0.1%. The index ended broadly flat for the week on Friday, recovering from a 3% drop on Monday.
Watch the 12 August 2024 market update in Khmer below: