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B2B Asia News
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This is a B2B Cambodia Market Update for 16 August, 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 0.02 points to 413.89.
- Total trade volume was down from yesterday. 100,002 shares changed hands at a total value of roughly 575.4 million Khmer riel or around to $140,000 US dollars.
- Most of the main board remained flat, with only two stocks up and two stocks down. The Phnom Penh Autonomous Port was up 0.97% or 140 riel to 14,580 riel per share. Pestech Cambodia was up 0.41% or 10 riel to 2,420 riel per share.
- The two stocks down were Royal Group Phnom Penh SEZ and the Sihanoukville Autonomous Port which were down 0.44% and 0.33% respectively. As mentioned, the rest of the main board remained flat.
- On the growth board, JS Land was up 0.29% or 10 riel to 3,460 riel per share, while DBD Engineering stayed flat.
- ACLEDA Bank recorded the highest trade volume of the day with 55,325 shares changing hands at a total value of over 415.5 million riel or around $101,200 US dollars, making up around 54% of the total trade volume on August 16th. Grand Twins International recorded the second highest trade volume of the day with 20,235 shares changing hands at a total value of 72.3 million riel or around $17,600 US dollars, making up close to 20% of Friday’s trade volume.
- In other market news, the Phnom Penh Autonomous Port released its second quarterly report for 2024, reporting a 15.93% increase in total revenue compared to the same quarter in 2023, and a quarter on quarter increase of 3.4% in net profit. The company shares that it has thus far achieved 45.14% of its planned revenue for 2024, and 35.17% of the planned net profit, over the course of the past 6 months of the year. As of the end of June 30, 2024, the Phnom Penh Autonomous Port’s total assets reached over 1 trillion khmer riel or over 256.8 million US dollars, which is a 1.41% increase from the end of 2023, while the company’s total equity also increased by 2.29% to 814.9 billion riel or 198.2 million US dollars.
- Exchange rate, the Khmer riel to USD weakened slightly to 4,098 riel per US dollar, while the US dollar index was slightly down to 102.88.
- Oil prices were set for a second straight week of gains despite edging lower on Friday, as recent U.S. economic data boosted optimism over demand from the world's top oil consumer.
- Brent crude futures have risen about 1.3% this week.
- However, on Friday Brent fell 22 cents, or 0.3%, to $80.82 US dollars per barrel.
- Gold prices steadied and were headed for a weekly gain on optimism about a U.S. interest rate cut, while traders awaited the U.S. Federal Reserve Chairman’s speech due next week for cues on the size of the cut.
- Spot gold was nearly unchanged at 2,457.14 US dollars per ounce, but has gained more than 1% so far this week.
- U.S. gold futures rose 0.1% to $2,494.4 US dollars.
- Stock futures climbed on Friday morning as investors looked toward the end of a week that has ushered in a recovery rally.
- Dow Jones Industrial Average futures added 59 points, or 0.15%. S&P 500 futures and Nasdaq 100 futures both climbed by 0.2% and 0.4% respectively.
- Those moves come after a strong day on Wall Street. The Dow gained more than 500 points on Thursday, rising more than 1% along with the broad S&P 500.
- The Nasdaq Composite jumped more than 2% as technology shares led the ascent.
Watch the 16 August 2024 market update in Khmer below: