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B2B Asia News
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This is a B2B Cambodia Market Update for 19 August, 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was down 2.62 points or 0.63% to 411.27.
- Total trade volume was down from yesterday. 95,491 shares changed hands at a total value of roughly 470 million Khmer riel or around $115,000 US dollars.
- Most of the main board was down with only two stocks up. Pestech Cambodia was up by 0.83% or 20 riel to 2,440 riel per share and Grand Twins International was up by 0.27% or 10 riel to 3,650 riel per share.
- On the downside, Phnom Penh Water Supply Authority was the biggest loser of the day, down 2.29% or 160 riel to 6,820 riel per share, followed by Sihanoukville Autonomous Port, which was down 1.50% or 180 riel to 11,800 riel per share. All remaining stocks on the main board were down.
- On the growth board, both DBD Engineering and JS Land stayed flat at 2,080 riel and 3,460 riel per share respectively.
- Phnom Penh Water Supply Authority recorded the highest trade volume of the day with 20,677 shares changing hands at a total value of 141 million riel or $34,550 US dollars, making up 20.9 per cent of the total trade volume on August 19th. MJQ Education followed in second, replacing Grand Twins International, recording a total of 20,512 shares valued at 42 million riel or 10,160 US dollars, making up approximately 20.8 per cent of Monday’s trade volume.
- In other market news, more companies have released their second quarterly reports for 2024. DBD Engineering reported a 170.01% loss compared to the same quarter in 2023. The company’s total assets also decreased by 9.29% to 76.1 billion riel or 18.6 million US dollars, while total equity increased by 2.62% to 36.3 billion riel or 8.9 million US dollars, compared to the end of 2023.
- Grand Twins International also disclosed that the company recorded a 3.56% decrease in total revenue, and a 90.53% decrease in net profit in Q2 2024 compared to the same quarter in 2023. As of the end of June 2024, Grand Twins International’s total assets reached 394.5 billion riel, or 96.7 million US dollars, while the company’s total equity reached 286.5 billion riel or 70.2 million US dollars.
- Exchange rate, the Khmer riel to USD strengthened slightly to 4,090 riel per US dollar, while the US dollar index was slightly down to 102.22.
- Oil prices eased on Monday, with Brent holding below $80 dollars as concern over demand in top oil importer China weighed on market sentiment.
- Brent crude futures dropped 63 cents, or 0.8%, to $79.05 US dollars a barrel. U.S. West Texas Intermediate crude futures slid 73 cents, or 1%, to $75.92 US dollars.
- Both benchmarks fell nearly 2% last Friday as investors tempered their Chinese demand growth expectations but ended the week largely unchanged after U.S. data showed that inflation was moderating despite robust retail spending.
- Gold eased after powering to an all-time high above the important $2,500 US dollars per ounce level in the last session on strong safe-haven demand and expectations of an imminent U.S. rate cut as investors seek more cues on the quantum of cuts.
- Spot gold was down 0.4% at $2,496.46 US dollars per ounce, just about $13 dollars shy of the record high of $2,509.65 US dollars hit on Friday. U.S. gold futures edged 0.1% lower to $2,534.80 US dollars.
- Stock futures were little changed Monday after the S&P 500 registered its best week of 2024.
Futures tied to the S&P 500, Dow Jones Industrial Average and Nasdaq 100 all hovered around the flatline following a busy week of economic data and ahead of a key speech from the U.S. Federal Reserve Chair. - Stocks are coming off a winning week amid a volatile stretch for equities. The broad index rallied 3.9% for its best week since 2023. The Nasdaq Composite and Dow added 5.2% and 2.9%, respectively.
Watch the19 August, 2024 market update in Khmer below: