18 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.35 points or 0.09% to 411.34.
• Total trade volume was down, with 42,867 shares changing hands at a total value of 267 million riel or over $66,000 US dollars.
• Three stocks were up on the main board. Royal Group Phnom Penh SEZ led the market, increasing by 0.90% or 20 riel to 2,240 riel per share, followed by the Sihanoukville Autonomous Port, which was up 0.85% or 100 riel to 11,900 riel per share and Phnom Penh Autonomous Port was also up 0.44% or 60 riel to 13,600 riel per share.
• Only one stock was down, the Phnom Penh Water Supply Authority was down 0.30% or 20 riel to 6,680 riel per share. While the rest of the main board, including ACLEDA Bank, CAMGSM, Grand Twins International, MJQ Education and Pestech Cambodia, remained flat.
• Over on the growth board, both JS Land and DBD Engineering stayed flat at 3,480 riel per share and 2,060 riel per share respectively.
   
• Acleda Bank recorded the highest trade volume of the day with 28,483 shares changing hands at a total value of 213 million riel or $52,700 US dollar, making up roughly 66% of total trades on September 19th.
• Royal Group Phnom Penh SEZ recorded a distant second highest trade volume of the day, with 6,145 shares changing hands at a total value of 14 million riel or roughly $3,375 US dollar, accounting for 14% of Wednesday’s trade volume.
   
• In other financial news, the two-day CamTech Summit 2024 kicked-off on the morning of September 18th at the Centre for Banking Studies (CBS) in Phnom Penh. The opening ceremony was presided over by Her Excellency Dr. Chea Serey, Governor of the National Bank of Cambodia, who emphasised the central bank’s commitment to fostering fintech adoption, innovation and fair competition, and also shared a number of the latest developments the NBC has made to modernise the payment system infrastructure in Cambodia. These included the recently launched Bakong Tourists App, a new cross-border payment collaboration with Malaysia being launched on September 19th, the development of a facial-recognition payment system in Cambodia that would allow users to make payments simply by smiling into a camera, a merged USD and KHR QR code, and ongoing efforts to help Cambodian small and medium enterprises tackle challenges related to financial access.
   
• Exchange rate, the Khmer riel to USD weakened slightly to at 4,055 riel per US dollar, while the US dollar index was up to 101.20.
   
• Looking at global commodities, Oil prices slipped lower on Wednesday as a rate cut announcement from the U.S. Federal Reserve raised worries about the health of the U.S. economy, while investors largely shrugged off a crude oil inventory decline that they attributed to the impact of short-lived weather.
• Brent crude futures for November settled at $73.65 US dollars a barrel, losing 5 cents.
• The U.S. central bank cut interest rates by half a percentage point, a larger decrease in borrowing costs than many expected, stoking concern the central bank may see a slowing job market. Interest rate cuts typically boost economic activity and energy demand, yet a weaker labour market can slow the economy.
• Ten-year Treasury yields have climbed nearly eight basis points from a day earlier to 3.719%, while gold shot to a record high just shy of $2,600 US dollars an ounce, before easing back to steady at $2,559 US dollars.
   
• Stocks closed lower Wednesday in a volatile session, following the U.S. Federal Reserve lowering interest rates. The outsized rate cut was cheered initially by traders, though it did raise concerns the Fed was trying to get ahead of potential economic weakness.
• The Dow Jones Industrial Average slid 103.08 points, or 0.25%. It was up as much as 375.79 points just after the Fed decision. The S&P 500 lost 0.29%, while the Nasdaq Composite dropped 0.31%. The S&P 500 and the Dow both touched records initially before falling back.

Watch the 18 September 2024 market update in Khmer below: