13 August 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 13 August, 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up by 0.7 points or 0.17% to 412.55. 
• Total trade volume was up but remained light, with only 60,993 shares changing hands at a total value of roughly 386 million Khmer riel or around $94,000 US dollars.
• Four stocks were up on the main board. Grand Twins International led the market, up 2.82% or 100 riel to 3,650 riel per share. Sihanoukville Autonomous Port followed in second, up 0.50% or 60 riel to 12,020 riel per share. Other stocks up were CAMGSM and the Phnom Penh Water Supply Authority.
• On the other hand, three stocks were down, with the Phnom Penh Autonomous Port as the biggest loser of the day, dropping 0.68% or 100 riel to 14,600 riel per share, followed by Pestech Cambodia, which fell 0.40% or 10 riel to 2,460 riel per share. ACLEDA Bank was the third stock down, falling 0.27%.
• MJQ Education and Royal Group Phnom Penh SEZ, meanwhile, remained flat.
• Over on the growth board, JS Land was down 0.29% or 10 riel to 3,410 riel per share while DBD Engineering remained flat.
   
• ACLEDA Bank recorded the highest trade volume of the day with 43,385 shares changing hands at a total value of 322.4 million riel or around $78,700 US dollars, making up around 67% of the total trade volume on August 13th. Grand Twins International followed in a distant second, with 9,918 shares changing hands at a total value 36.4 million riel or $8,800 US dollars, making up roughly 15% of Tuesday’s trade volume.
   
• In the other market news, ACLEDA Bank released its second quarterly report for 2024 detailing that the company’s total revenue increased by 29.66 billion Khmer riel, or roughly 7.2 million US dollars, which is an increase of 3.51% compared to the same quarter in 2023, while Profit Attributable to the bank’s Owners decreased by 19.35 billion riel, equivalent to 14.26%, compared to Q2 in 2023.
• In terms of the company’s assets, as of June 30, 2024, ACLEDA Bank’s total assets saw a 5.53% or 2.2 trillion khmer riel increase, which is roughly 537.1 million US dollars, compared to 2023, while equity attributable to owners of the Bank has so far increased by 3.19% or 179.32 billion khmer riel, which is around 43.7 million US dollars, from the end of 2023.
• JS Land published a disclosure report announcing that its Net Profit after tax reached over 1 billion khmer riel in Q2 of 2024, which is an increase of 150.21% or 3.1 billion Khmer riel, roughly 778,000 US dollars, from the same quarter in 2023. The company attributes this increase in net profit to its completion of The Garden Residency 2 project.
• Pestech Cambodia also released a disclosure notice announcing an increase in revenue, operating loss and net loss in Q2 of 2024, when compared to the same quarter in 2023. The company’s revenue increased by 106.7%, operating loss increased by 4,505.5% and net loss after tax increased by 293.3%.
   
• The Khmer riel to USD strengthened at 4,091 riel per US dollar, while the US dollar index was up  to 103.21.
   
• Oil prices steadied on Tuesday after rising for five consecutive sessions, as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China.
• Benchmark Brent crude futures were down 30 cents, or 0.36%, at $82.00 US dollars a barrel.
• Brent on Monday gained more than 3% while U.S. crude futures rose more than 4% on expectations of a widening Middle Eastern conflict that could tighten global crude oil supplies.
• Gold prices fell as investors locked in profits after the precious metal closed at an all-time high in the previous session and ahead of key U.S. inflation data that could shape expectations around the U.S. Federal Reserve's monetary policy path.
• Spot gold was down 0.4% at $2,461.60 US dollars per ounce. Prices rose 1.7% to $2,472 US dollars, a record high for the closing price, on Monday. Non-yielding gold is up 19% so far this year after spot prices touched a record high of $2,483.60 US dollars on July 17.
   
• U.S Stock futures rose modestly. The Nasdaq Composite has advanced for four of the past five days.Tech stocks have also gained. Nvidia and Super Micro Computer were both up roughly 1.5% in premarket trading, continuing to recover from last week’s rout.
• Bond yields ticked higher. The yield on the U.S. 10-year Treasury note settled Monday at 3.908%.
  The British pound strengthened, topping $1.28 US dollars. U.K. data showed an unexpected decline in the unemployment rate last quarter, although wage growth cooled.
• The Japanese yen weakened to around 147.9 Yen to the dollar. The Nikkei 225 jumped about 3.5% as stock markets in Japan reopened after a holiday.

Watch the 13 August 2024 market update in Khmer below: