19 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.16 points or 0.04% to 411.50.
• Total trade volume was down, with 37,610 shares changing hands at a total value of 226 million riel or over $55,700 US dollars.
• Four stocks were up on the main board. Pestech Cambodia led the market, up 0.41% or 10 riel to 2,430 riel per share, followed by Phnom Penh Water Supply Authority, which was up 0.30% or 20 riel to 6,700 riel per share. The other two stocks up were the Sihanoukville Autonomous Port and Grand Twins International.
• On the other hand, only one stock was down. The Phnom Penh Autonomous Port was down 0.15% or 20 riel to 13,720 riel per share. The rest of the main board, including Royal Group Phnom Penh SEZ, ACLEDA Bank, CAMGSM, and MJQ Education, remained flat.
• Over on the growth board, DBD Engineering was up 0.49% or 10 riel to 2,070 riel per share, while JS Land was down 0.86% or 30 riel to 3,450 riel per share.
   
• ACLEDA Bank recorded the highest trade volume of the day with 23,282 shares changing hands at a total value of 174 million riel or $43,000 US dollar, making up roughly 57% of total shares traded on September 19th.
• CAMGSM recorded the second highest trade volume of the day, with 7,215 shares changing hands at a total value of 17.5 million riel or roughly $4,320 US dollars, accounting for 18% of Thursday’s trade volume.
   
• In other business news, VDB Loi, one of the leading law firms in Cambodia, has announced its rebranding as Andersen in Cambodia and Vietnam, a brand name under Andersen Global, an international association of legally separate, independent firms comprising tax, legal, and valuation professionals around the world.
• The rebranding was officially unveiled at the joint EuroCham and AmCham ‘Tax Forum 2024’, held under the presidency of His Excellency Kong Vibol, Director General of the General Department of Taxation, on September 18, 2024.
• Jean Loi, co-founder of VDB Loi, stated that the firm has concluded a strategic arrangement with Andersen Global which has a fast-growing network of 475 offices and 17,000 professionals worldwide.
   
• Exchange rate, the KHR to USD weakened to 4,059 riel per USD while the USD Index edged lower to 100.52.
   
• Looking at global commodities, oil prices rose following news of the U.S. Federal Reserve’s interest rate cut by 0.5%, but Brent was still hovering around its lowest levels of the year, below $75 dollars, on expectations of weaker global demand.
• Brent crude futures for November were up 81 cents, or 1.1%, to $74.46 US dollars a barrel.
• Gold prices climbed 1% after the slashing of interest rates indicated the U.S. Federal Reserve is embarking on an easing cycle.
• Spot gold rose 1% to $2,584.16 US dollars per ounce after scaling a record high of $2,599.92 US dollars on Wednesday. U.S. gold futures rose 0.4% to $2,609.70 US dollars.
   
• U.S. stock futures rose early Thursday as traders also digested the news of the interest rate cuts.
• Dow Jones Industrial Average futures rose 259 points, or 0.6%. Futures tied to the S&P 500 climbed about 1%, while Nasdaq 100 futures added 1.4%.

Watch the 19 September 2024 market update in Khmer below: