By
B2B Asia News
on
This is a B2B Cambodia Market Update for 12 July 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was up 0.72 points or 0.17% to 414.16.
- Total trade volume was down to a very light 59,944 shares changing hands at a total trade value of 317.1 million Khmer riel, or roughly $77,200 US dollars.
- On the Main Board, only CAMGSM was up by 0.84% or 20 riel to 2,410 riel per share – the rest of the main board was either down or flat.
- The Phnom Penh Autonomous Port was the biggest loser of the day, down 3.11% or 520 riel to 16,200 riel per share, followed by Pestech Cambodia, which was down 2.04% or 50 riel to 2,400 riel per share.
- Other stocks on a downward trend were Grand Twins International, Royal Group Phnom Penh SEZ, and MJQ Education. Three stocks – the Phnom Penh Water Supply Authority, ACLEDA Bank and the Sihanoukville Autonomous Port – remained flat.
- Over on the growth board, DBD Engineering was up 0.48% or 10 riel to 2,090 riel per share while JS Land was down 1.92% or 70 riel 3,570 riel per share.
- DBD Engineering recorded the highest trade volume of the day with 16,889 shares changing hands at a total value of 35.1 million riel or $8,500 US dollars, equivalent to 21 per cent of total shares traded on July 12th. Following in second was ACLEDA bank with 15,996 shares changing hands at a total value of 120.3 million riel or $29,300 US dollars, making up around 20 per cent of Friday’s total trade volume.
- In other maket-related news, Confluences released its 2024 Consumer Report for the Cambodian market, in partnership with Standard Insights, covering a range of insights into Cambodian consumer preferences and perspectives. The report is based on an online survey conducted in March 2024 that accrued just over 500 respondents. The report found that one of the leading financial priorities across all demographics in Cambodia is paying off debt, with more than a third of respondents indicating so. Unfortunately, an overwhelmingly small number of respondents stated they had any interest in stocks or funds, making up less than 5 per cent of the survey sample. In terms of spending habits, nearly half of all respondents in Cambodia suggested they have no travel plans as they tighten purse strings and express an anxious outlook on the financial climate. On dining in particular, fewer respondents reported dining out or ordering from fast-food restaurants, and overall, there were strong indications that respondents wanted to reduce spending on dining, high-end retail, specialty foods, as well as leisure activities, with the data reflecting an overarching willingness to reduce expenses on a range of sectors. On the flip side, educational services, health and wellness and home improvements showed the strongest growth areas for where consumers want to increase spending.
- The Khmer riel to USD was unchanged at 4,110 riel per US dollar, while the US dollar index was slightly down to 104.36.
- Oil prices rose on Friday amid signs of easing inflationary pressures in the United States, the world's biggest oil consumer, with Brent crude peaking above 86 US dollars though it was still set for a weekly decline.
- Brent crude futures rose 72 cents, or 0.8%, to $86.12 US dollars a barrel
- Gold prices edged lower on Friday, but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September.
- Spot gold slipped 0.2% at $2,409.19 per ounce, after rising 2% on Thursday. U.S. gold futures eased 0.3% at $2,414.10.
- Futures tied to the S&P 500 and the Nasdaq 100 indexes paused near record levels on Friday ahead of results from JPMorgan, Citigroup and Wells Fargo that will throw second-quarter earnings season into high gear.
- As of the time of the Cambodian market’s closing, Dow was up 0.1%, while S&P 500 and Nasdaq remained just about flat.
Watch the 12 July 2024 market update in Khmer below: