16 October 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 16 October 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.23 points, or 0.06%, to 408.14
• Total trade volume was up, with 84,064 shares changing hands at a total value of 475 million riel, or approximately $117,000 US dollars.
• On the main board, three stocks were up. Pestech Cambodia led the market, up 1.67% or 40 riel to 2,440 riel per share, followed by Grand Twins International, which was up 0.97% or 40 riel to 4,160 riel per share. CAMGSM was also up by 20 riel to 2,440 riel per share.
• On the downside, the biggest loser of the day was the Sihanoukville Autonomous Port, dropping 0.87% or 100 riel to 11,380 riel per share, followed by ACLEDA Bank, which decreased by 0.81% or 60 riel to 7,380 riel per share. Other stocks down were Royal Group Phnom Penh SEZ, the Phnom Penh Water Supply Authority, and the Phnom Autonomous Port, while MJQ Education remained flat.
• On the growth board, both stocks were down. DBD Engineering dropped 0.97%, or 20 riel, to 2,050 riel per share, while JS Land was down 0.29%, or 10 riel, to 3,450 riel per share.
   
• ACLEDA bank recorded the highest trade volume of the day, with 36,134 shares changing hands at a total value of nearly 267.8 million riel, or around $66,000 US dollars, making up roughly 42.7% of total shares traded on October 16th.
• The Phnom Penh Water Supply Authority recorded the second highest trade volume of the day with 19,345 shares changing hands at a total value of 121.5 million riel, or roughly $29,800 US dollars, accounting for 22.8% of Wednesday's trade volume.
   
• In other market-related news, the National Bank of Cambodia has unveiled a new 200,000 riel banknote, which is equivalent to approximately $50 US dollars. This issuance marked the celebration of the 20th anniversary of King Norodom Sihamoni's coronation.
• According to NBC Governor Dr. Chea Serey, a total of 20 million 200,000 riel notes will be issued, which is a total of approximately 1 billion US dollars. Dr. Serey clarified that this will not affect the total amount of currency in circulation in Cambodia.
   
• Exchange rate, the KHR strengthened to 4,060 riel per USD, while the USD index rose to 103.27.
   
• Looking at global commodities, oil steadied on Wednesday, supported by OPEC+ cuts and uncertainty over what may happen next regarding the conflict in the Middle East, although an outlook for ample supply next year added downward pressure.
• Crude fell more than 4% to a near two-week low on Tuesday in response to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of supply disruptions.
• Brent crude oil futures rose 0.2% to $74.41 US dollars a barrel.
• Gold prices extended gains to a second session, driven by weaker equities and bond yields, while traders eagerly await U.S. economic data to gauge the U.S. Federal Reserve's timeline on a potential rate reduction.
• Spot gold was up 0.6% at $2,676.63 US dollars per ounce,  and trading nearly $9 dollars below a record high of $2,685.42 US dollars scaled last month. U.S. gold futures gained 0.5% to $2,693.30 US dollars.
   
• As of the time of the Cambodian market’s closing, US Stock futures were flat Wednesday as Wall Street looked to see whether equities could rebound to record highs this week. Futures tied to the S&P 500 were flat. 
• Nasdaq 100 futures ticked up by about 0.1%, while Dow Jones Industrial Average  futures lost 11 points.

Watch the 16 October 2024 market update in Khmer below: