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18 July 2024 - Market Update - B2B Cambodia

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18 July 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 18 July 2024.

This is a B2B Cambodia Market Update for 18 July 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

  • The Cambodia Securities Exchange Index was up by 1.05 points or 0.25% to 415.87.
  • Total trade volume was higher than yesterday – 121,111 shares changed hands at a total value of roughly 537.7 million Khmer riel or around $130,900 US dollars. 
  • Four stocks were up on the main board, with the Phnom Penh Autonomous Port leading the market, up by 1.81% or 280 riel to 15,780 riel per share, followed by Grand Twins International, which was up 0.90% or 30 riel to 3,350 riel per share. The other two stocks up were MJQ Education and CAMGSM.
  • Only one stock, the Sihanoukville Autonomous Port, was down, dropping 0.17% or 20 riel to 12,080 riel per share. The remaining four stocks on the main board – Phnom Penh Water Supply Authority, Royal Group Phnom Penh SEZ, ACLEDA Bank and Pestech Cambodia – remained flat.
  • Over on the Growth Board, JS Land was up 1.98% or 70 riel to 3,600 riel per share, while DBD Engineering’s share price remained flat for the fourth day in a row at 2,090 riel per share.
     
  • Royal Group Phnom Penh SEZ recorded the highest trade volume of the day with 51,170 shares changing hands at a total value of roughly 115.6 million riel or $28,170 US dollars, making up around 40% of all shares traded on July 18th. Grand Twins International recorded the second highest trade volume of the day with 23,798 shares changing hands, accounting for close to 19% of Thursday’s trade volume. 
     
  • In other market news,Telcotech announced to its investors and the public that Quah Chin Hong has been selected as the new Chief Executive Officer of the company. He was announced into this role on June 1st, 2024 but was only officially appointed by the Board of Directors on July 18th. Telcotech Limited, a telecom infrastructure company under the Royal Group of Companies, previously launched its official $20 million dollar bond on the Cambodia Securities Exchange (CSX) for the second time in early January 2024. The bond is guaranteed by the Asian Development Bank-backed Credit Guarantee and Investment Facility (CGIF). 
  • In more business related news, the Khmer Times reported that the China Road and Bridge Corporation (CRBC) has finalised the feasibility study for the proposed Phnom Penh-Siem Reap-Poipet Expressway and is now compiling a report to submit to the Cambodian government for review and evaluation.
  • This is Cambodia's third expressway project, after the second, the Phnom Penh-Bavet expressway, began construction in 2023. According to the feasibility study, the project is divided into two phases. The first phase, stretching 249 km from Phnom Penh to Siem Reap, has a budget of $2.5 billion US dollars. The second phase, from Siem Reap to Poipet, has a length of 151 km and an estimated cost of $1.7 billion US dollars.
     
  • The Khmer riel to USD weakened slightly to 4,107 riel per US dollar, while the US dollar index was slightly up to 103.83.
     
  • Moving on to commodities, oil prices extended gains on Thursday, buoyed by a bigger than expected decline in crude stocks in the United States, the world's largest oil consumer.
  • U.S. crude inventories fell by 4.9 million barrels last week, data from the U.S. Energy Information Administration showed. 
  • Brent futures rose 41 cents, or 0.5%, to $85.49 US dollars a barrel.
  • Gold prices meanwhile rose, hovering near a record high scaled in the previous session, as rising anticipation of a U.S. interest rate cut in September lifted demand for non-yielding bullion.
  • Spot gold was up 0.5% at $2,470.62 US dollars per ounce. Prices hit an all-time high of $2,483.60 US dollars on Wednesday. U.S. gold futures also climbed 0.5% to $2,473.10 US dollars.
     
  • A rebound in chip stocks lifted Nasdaq and S&P 500 futures on Thursday as Taiwan Semiconductor Manufacturing Co's upbeat forecast and results looked set to boost the sector following a sharp selloff in the previous session.
  • Dow futures also edged lower after the index notched its third consecutive closing high on Wednesday.
  • As of the time of the Cambodian market’s closing, Dow futures was down 0.10%, while the S&P 500 was up 0.28%, and Nasdaq was up 0.58%.

Watch the 18 July 2024 market update in Khmer below: