12 November 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 12 November 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 1.58 points or 0.39% to 402.59. 
• Total trade volume was down, with only 67,654 shares changing hands at a total value of 406.9 million riel or approximately $100,000 US dollars.
• On the main board, 7 stocks were up, and 2 remained flat, meaning no stocks were down. Leading the market was Grand Twins International, which was up 2.50% or 120 riel to 4,920 riel per share, followed by the Phnom Penh Autonomous Port, which rose 1.21% or 160 riel to 13,360 riel per share.
• Other stocks up included the Phnom Penh Water Supply Authority, Royal Group Phnom Penh SEZ, ACLEDA Bank, Sihanoukville Autonomous Port and CAMGSM. The two stocks that remained flat were MJQ Education and Pestech Cambodia.
• Over on the growth board, both stocks were down. DBD Engineering was down 0.49% or 10 riel to 2,050 riel per share, while JS Land dropped 0.57% or 20 riel to 3,480 riel per share.
   
• ACLEDA Bank once again recorded the highest trade volume of the day, with 41,938 shares changing hands at a total value of 293 million riel or over $72,300 US dollars, making up roughly 57% of total shares traded on November 12th.
• Phnom Penh Water Supply Authority recorded the second highest trade volume of the day, however, with a significant gap to the highest, with only 8,098 shares changing hands at a total value of 50.5 million riel or over $12,400 US dollars, accounting for around 11% of Tuesday’s trade volume.
   
• In other market news, Royal Group Phnom Penh SEZ reported lower sales but higher profits in Q3 of 2024. The company’s sales in Q3 this year amounted to 12.8 billion riel, which is a 83.22% decrease compared to the 76.5 billion riel amassed in the same quarter of 2023. Meanwhile, net profits rose to 18 billion riel, or around 4.5 million dollars, representing an increase of 216.47% compared to the same period last year. The company explained that the lower sales amount was due to a decrease in land sales, while net profit was higher in spite of the lower sales due to an increase in income from the sale of an investment property.
• MJQ Education also published its Q3 financial statement for 2024, noting a decrease in net profit and operating profit. The company’s revenue increased slightly by 5.02% compared to the previous quarter, however, operating profit dropped significantly by 91.6%, and net loss rose by 351.71%. The company emphasised that this short-term decline is primarily due to the American Intercon School’s extended summer break, which impacted revenue for the quarter, along with the expected negative operating profit from newly established campuses that have yet to reach their break-even point.
   
• Exchange rate, the KHR to USD strengthened to 4,053 riel per USD, while the USD index was up to 105.79.
   
• Looking at global commodities, oil prices were little changed on Tuesday, awaiting further price direction from OPEC's monthly report, with investor disappointment over China's latest stimulus plan and oversupply concerns keeping buying interest at bay. Brent crude futures rose 4 cents to $71.87 US dollars a barrel.
• Gold, meanwhile, fell to its lowest in nearly two months, weighed down by a stronger dollar, while investors awaited a set of key U.S. economic data and comments from U.S. Federal Reserve officials for further clarity on the interest rate trajectory.
• Spot gold fell 0.9% to $2,597.91 US dollars per ounce, hitting its lowest since September 20th.
• U.S. gold futures fell 0.5% to $2,604.30 US dollars.
   
• As of the time of the Cambodian market’s closing, U.S. stock futures were falling back early Tuesday after the S&P 500 closed above 6,000 for the first time on Monday. The index is on course for its first back-to-back yearly gains of more than 20% for the first time since 1998.
• Dow Jones Industrial Average futures were down 35 points, or 0.1%, after closing above 44,000 for the first time yesterday. S&P 500 futures also fell 0.1%, as did contracts tied to the technology-heavy Nasdaq 100. All three indexes finished Monday higher.

Watch the 12 November 2024 market update in Khmer below: