14 August 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 14 August 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.53 points or 0.13% to 413.08. 
• Total trade volume was far higher than yesterday and at a moderate level, with 586,240 shares changing hands at a total value of roughly 2.1 billion Khmer riel or close to $522,000 US dollars.
• With that said, only two stocks were up on the main board, with Royal Group Phnom Penh SEZ leading the market, up 0.87% or 20 riel to 2,310 riel per share, and CAMGSM rising 0.41% or 10 riel to 2,430 riel per share.
• Among the four stocks down, Grand Twins International was the biggest loser of the day, dropping 1.64% or 60 riel to 3,590 riel per share, followed by the Phnom Penh Autonomous Port, which fell by 0.68% or 100 riel to 14,500 riel per share. The other two stocks down were Pestech Cambodia and the Phnom Penh Water Supply Authority.
• Meanwhile, MJQ Education, ACLEDA Bank and the Sihanoukville Autonomous Port remained flat.
• Over on the growth board, both JS Land and DBD Engineering were up, with JS Land rising 2.64% or 90 riel to 3,500 riel per share, while DBD Engineering was up by 0.48% or 10 riel to 2,090 riel per share.
   
• Grand Twins International recorded the highest trade volume of the day with 438,432 shares changing hands at a total value of over 1.4 billion riel or around $357,000 US dollars, making up around 74% of the total trade volume on August 14th. Royal Group Phnom Penh SEZ recorded  the second highest trade volume of the day with 77,930 shares changing hands at a total value of 179.4 million riel or around $44,000 US dollars, making up roughly 13% of Wednesday’s trade volume.
   
• In other market news, more companies continue to release their second quarterly reports for 2024. The Sihanoukville Autonomous Port has reported an increase in revenue, operating profit and net profit, with revenue in Q2 of 2024 reaching 114.5 billion khmer riel or 28.1 million US dollars, which is an increase of 24.39% compared to the same quarter in 2023. The Sihanoukville Autonomous Port attributes the rise in revenue and profits to an increase in container cargo and cargo throughput this quarter compared to Q2 in 2023.
• The Phnom Penh Autonomous Port also reported an increase in revenue by 15.93% compared to Q2 2023, to 41.8 billion khmer riel or around 10.2 million US dollars. While the company saw a 3.29% quarter-on-quarter decrease in operating profit, it also recorded a 3.4% quarter-on-quarter increase in net profit.
• Finally, MJQ Education reported that the company’s revenue in Q2 of 2024 increased by 10.78% compared to Q2 of 2023, however the same comparison of Net Profit shows a 1.12% decrease. As of June 30, 2024, MJQ Education’s total assets reached is 434.1 billion Khmer riel or 105,634,203 US dollars, increasing by 5.75% from the 2023 year end. The company’s total equity also reached 101.9 billion riel, or 24,797,176 US dollars, which is a 16.32% increase from  December 31, 2023.
   
• Exchange rate, the Khmer riel to USD remained the same at 4,091 riel per US dollar, while the US dollar index was slightly down to 102.48.
   
• Oil prices rose slightly on Wednesday after an industry report showed U.S. crude and gasoline inventories fell and as the market watched for a possible widening of the Israel-Gaza war, which may impact global oil supplies.
  Brent crude futures rose 32 cents, or 0.4%, to $81.01 US dollars a barrel.
• Gold prices hovered near record highs, steered by hopes of U.S. interest rate reduction and persistent Middle East tensions, while the spotlight shifted to U.S. inflation data.
• Spot gold was up 0.2% to $2,469.35 US dollars per ounce, shy of the record high of $2,483.60 US dollars scaled last month. U.S. gold futures steadied at $2,508.40 US dollars.
   
• Futures tied to the S&P 500 paused on Wednesday after the benchmark index logged four straight days of gains as investors cautiously awaited a key inflation report for clues on the pace of interest rate cuts from the U.S. Federal Reserve.
• Nasdaq 100 futures were 0.1% lower as Alphabet, Google’s parent company, dipped 1.3% in premarket trading. Some media reports say the U.S. Department of Justice is considering options that include breaking up Google. 
• A rebound in megacap and technology stocks have helped markets recoup most of their losses from a global market rout earlier this month that was partly caused by data showing a surge in U.S. unemployment rate in July.

Watch the 14 August 2024 market update in Khmer below: