15 August 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 15 August 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.83 points or 0.20% to 413.91. 
• Total trade volume was down from yesterday. 209,279 shares changed hands at a total value of roughly 816.8 million Khmer riel or close to $199,500 US dollars.
• Two stocks were up on the main board. Grand Twins International was up 1.39% or 50 riel to 3,640 riel per share. ACLEDA Bank was up 0.81% or 60 riel to 7,500 riel per share.
• On the other hand, three stocks were down. Pestech Cambodia was the biggest loser of the day, dropping 1.63% or 40 riel to 2,410 riel per share, followed by Royal Group Phnom Penh SEZ, which fell by 0.87% or 20 riel to 2,290 riel per share. The Phnom Penh Autonomous Port was also down by 0.41%.
• MJQ Education, CAMGSM, the Sihanoukville Autonomous Port and the Phnom Penh Water Supply Authority remained flat.
• Over on the growth board, both JS Land and DBD Engineering were down. JS Land was down 1.43% or 50 riel to 3,450 riel per share, while DBD Engineering was down 0.48% or 10 riel 2,080 riel per share.
   
• Royal Group Phnom Penh SEZ recorded the highest trade volume of the day with 130,210 shares changing hands at a total value of over 297.9 million riel or around $72,700 US dollars, making up around 61% of the total trade volume on August 15th. ACLEDA Bank recorded the second highest trade volume of the day with 60,660 shares changing hands at a total value of 451.6 million riel or around $110,300 US dollars, making up roughly 28.3% of Thursday’s trade volume.
   
• In other market news, Royal Group Phnom Penh SEZ announced the buyback of 65,000 of its shares through Auction Trading, which is 0.104% in paid-up capital, which likely contributed to its high trade volume today.
• In another wave of quarter 2 reports for 2024, JS Land reported a 163.33% increase in total comprehensive profit compared to the same quarter in 2023, while the company’s total assets increased by 4.59% and total equity by 12.82%, as of the end of June 30, 2024.
• DBD Engineering, also from the growth board, reported a decrease in net profit due to a 126.03% decrease in profit before tax, which is attributed to a 58.36% decrease in revenue and a 59.15% increase in financing costs.
• Pestech Cambodia reported an increase of 9 billion khmer riel or 2.2 million US dollars, which is equivalent to a 106.7% rise compared to the corresponding quarter in 2023, which the company attributes to the progress made in various projects.
• Grand Twins International reported a 60.23% decrease in operating profit and a 90.53% decrease in Net Profit, with the main reason reported being a decrease in revenue and a slight increase in cost of sale by 2.43% in the second quarter of 2024, compared to the same period in 2023.
• MJQ Education meanwhile has also disclosed that it secured a 3 million dollar long-term loan from Cambodian Public Bank PLC on August 15, 2024, as part of its strategic growth strategy and efforts to expand the spectrum of debt financing sources, in alignment with the company’s overarching business plan.
   
• Exchange rate, the Khmer riel to USD weakened slightly to 4,094 riel per US dollar, while the US dollar index was slightly down to 102.55.
   
• Oil prices rose on Thursday, driven by a reported decline in U.S. crude production, intensifying geopolitical tensions, and growing expectations of interest rate cuts from the US Federal Reserve.
• International benchmark Brent crude rose 0.6% to $80.27 US dollars per barrel, down from the previous session's close of $79.76 US dollars.
• Both benchmarks climbed after the Energy Information Administration (EIA) reported a 128,000 barrel per day (bpd) drop in U.S. crude oil production, bringing output down to approximately 13.6 million bpd for the week ending August 9.
• Concerns over potential supply shortages have pushed oil prices higher.
• Gold prices rose on Thursday, a day after U.S. inflation data suggested the Federal Reserve might reduce interest rates next month though the extent of cuts remains uncertain, prompting investors to await further economic indicators.
• Spot gold was up 0.5% at $2,458.74 US dollars per ounce, just $25 dollars shy of the record high of $2,483.60 US dollars scaled last month. U.S. gold futures rose 0.7% to $2,496.50 US dollars.
   
• U.S. stock index futures edged higher on Thursday ahead of another batch of economic data, after benign consumer inflation figures reinforced hopes for the Federal Reserve to start cutting interest rates next month. Dow was up 0.2%, Nasdaq 0.2%, S&P 500 0.1%
• Most megacap and growth stocks were up in premarket trading. Nvidia was an outlier with a 0.5% decline.

Watch the 15 August 2024 market update in Khmer below: