19 July 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 19 July 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was slightly down by 0.03 points or 0.01% to 415.84. 
• Total trade volume was down  – 114,815 shares changed hands at a total value of roughly 592.4 million Khmer riel or around $146,300 US dollars. 
• Four stocks were up on the main board. Pestech Cambodia led the market, up by 1.26% or 30 riel to 2,420 riel per share, followed by Grand Twins International, which was up by 1.19% or 40 riel to 3,390 riel per share. The other two stocks up were the Sihanoukville Autonomous Port  and ACLEDA Bank. 
• On the downside, Royal Group Phnom Penh SEZ was the biggest loser of the day, dropping 0.88% or 20 riel to 2,260 riel per share. The other two stocks down were Phnom Penh Autonomous Port and CamGSM. 
• Over on the Growth Board, JS Land was down 2.78% or 100 riel to 3,500 riel per share, while DBD Engineering was up 0.48% or 10 riel to 2,090 riel per share.
   
• ACLEDA Bank recorded the highest trade volume of the day with 50,878 shares changing hands at a total value of roughly 382.4 million riel or $92,800 US dollars, making up around 41% of all shares traded on July 19th. Royal Group Phnom Penh SEZ recorded the second highest trade volume of the day with 38,947 shares changing hands, accounting for roughly 32% of Friday’s trade volume. 
   
• In other market news, the Cambodian government has approved a sub-decree on the establishment of a Special Tax Audit Unit under the management of the General Department of Taxation. The main aim of this sub-decree is to create a new auditing unit that has an equal standing to other departments operating under the GDT, thus promoting and expediting the resolution of taxpayer issues related to tax auditing. This is hoped to help further improve business, trade and investment environments.
• In international news, a global tech outage disrupted operations in multiple industries, with airlines halting flights, some broadcasters off-air and everything from banking to healthcare hit by system problems. In Asia, Malaysia's railway operator KTMB reported problems with ticketing and customer service, while Singapore's Changi Airport also delayed flights with a number of different airlines affected. The meltdown is believed to be related to an issue at the software company Microsoft and global cybersecurity firm Crowdstrike. Microsoft said in a statement that a resolution for Windows devices was "forthcoming", while confirming that a third party was at fault after it issued an update. Said third party, Crowdstrike, meanwhile also confirmed that it had identified the issue, isolated it and deployed a fix.
   
• The Khmer riel to USD remained unchanged at 4,107 riel per US dollar, while the US dollar index was up to 104.33.
   
• Oil prices fell on Friday with a strong US dollar and weak economic data from China, which triggered demand concerns, while wildfires near Canada's large oil fields support upward price movements.
• International benchmark Brent crude traded at $84.55 US dollars per barrel, a decrease of 0.65% from the closing price of $85.11 US dollars per barrel in the previous trading session.
• Oil prices decreased due to the strong US dollar, which ramped up prices for non-US currency holders and discouraged investors.
• Gold prices also fell, but were on track for a fourth straight weekly gain as expectations that the U.S. Federal Reserve will cut interest rates in September lifted bullion's appeal.
• Spot gold was down 1 % to $2,420.51 US dollars per ounce. It has risen 0.4% so far this week, and hit an all-time high of $2,483.60 US dollars on Wednesday.U.S. gold futures fell 1.34 % to $2,423.40 US dollars.
   
• As of the time of the Cambodian market’s closing, U.S. stock futures were falling, as the earlier mentioned global major technology outage disrupted everything from banks to airlines to stock exchanges.
• The companies reported to be at the heart of the outage have understandably seen drops in value. Microsoft stock fell almost 2% in premarket trading, while CrowdStrike shares fell 14%.
• Stock trading appeared to be functioning normally across most European exchanges, though the LSE said it was unable to publish news releases to its website.
• Asian shares retreated Friday after a broad washout across Wall Street dragged U.S. stocks lower, and Hong Kong’s benchmark fell more than 2% as investors remained wary over China’s plans for helping its ailing property sector.

Watch the 19 July 2024 market update in Khmer below: