12 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.20 points or 0.05% to 411.87. 
• Total trade volume was light but higher than yesterday, with 48,480 shares changing hands at a total value of 314 million riel or over $77,000 US dollars.
• Four stocks were up on the main board, with the Phnom Penh Autonomous Port leading the market, up 1.04% or 140 riel to 13,580 riel per share, followed by Grand Twins International, which was up 0.53% or 20 riel to 3,810 riel per share. Other stocks up were the Pestech Cambodia and the Sihanoukville Autonomous Port.
• Only one stock was down, on the other hand. Royal Group Phnom Penh SEZ dropped 0.45% or 10 riel to 2,220 riel per share. The rest of the main board remained flat.
• Over on the growth board, DBD Engineering was down 0.48% to 2,060 riel per share, while JS Land was up 0.29% to 3,450 riel per share.
   
• ACLEDA Bank once again recorded the highest trade volume of the day with 22,821 shares changing hands at a total value of 171.4 million riel or around $42,000 US dollars, making up approximately 36% of September 12th’s trade volume.
• The growth board’s DBD Engineering actually recorded the second highest trade volume of the day with 11,544 shares traded at a total value of 23.8 million riel or roughly $5,850 US dollars, accounting for 18.3% of Thursday’s trade volume.
   
• In other business news, Cambodia Rice Forum 2024 was organised by the Cambodia Rice Federation earlier this week, and was held under the presidency of Cambodian Prime Minister Hun Manet at the Sofitel Phnom Penh Phokeethra to enhance the visibility of Cambodia's rice sector on a global scale and to discuss strategies for its development. According to the Ministry of Industry, Science, Technology & Innovation, Cambodia currently has 19 large-scale rice factories with an investment of $342.3 million US dollars. There are also 19,570 small and medium-sized rice mills nationwide with an investment of $111.7 million US dollars.
• Australia and the US, in particular, expressed their support for Cambodia’s rice sector at the forum. Australia reaffirmed its commitment through the Cambodia Australia Partnership for Resilient Economic Development, otherwise known as CAPRED. Rice and paddy exports from Cambodia to Australia valued at around $1.8 billion US dollars in 2023. Meanwhile, Prime Minister Hun Manet announced that U.S. companies have planned to increase their purchases of Cambodian rice, following a delegation meeting with five U.S. companies in Phnom Penh. Potential agricultural exports to the US could include milled rice, cashew, pepper and dried mango with the prime minister indicating there could be a tax incentive package and agricultural modernisation locally.
   
• Exchange rate, the Khmer riel to USD strengthened slightly to 4,060 riel per US dollar, while the US dollar index was up to 101.73.
   
• Looking at global commodities, oil prices rose more than 1% on Thursday, extending a rebound spurred by concern over Hurricane Francine's impact on U.S. output, though a gloomy demand outlook capped gains.
• Brent crude futures for November rose 1.4% to $71.62 US dollars a barrel. U.S. crude futures for October were up 1.5%, at $68.31 US dollars.
• Gold prices surged in futures trade as speculators built fresh positions amid robust spot demand. Globally, gold futures saw an increase of 0.21%, trading at $2,547.80 US dollars per ounce.
   
• As of the time of the Cambodian market’s closing, U.S. stock futures were headed for small gains at the market open on Thursday, looking to build on a positive reaction to the previous day’s inflation data. The U.S. Federal Reserve now looks fully teed up for a quarter-point cut to interest rates at its monetary-policy meeting next week.
• Dow Jones Industrial Average futures were up 90 points, or 0.2%. S&P 500 futures were also climbing 0.2%, while those tied to the Nasdaq 100 were up 0.3%.

Watch the 12 September 2024 market update in Khmer below: