2 September 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 2 September 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was down 1.19 points or 0.29% to 410.02 
• Total trade volume was down and extremely light. Only 46,554 shares changed hands at a total value of 291 million riel or $71,850 US Dollars.
• Most of the main board was down, with only two stocks remaining flat, and no stocks up. The Phnom Penh Autonomous Port was down 1.03% or 140 riel to 13,460 riel per share, followed by Royal Group Phnom Penh SEZ, which was down 0.90% or 20 riel to 2,210 riel per share. 
• Other stocks down were the Phnom Penh Water Supply Authority, Pestech Cambodia, Sihanoukville Autonomous Port, Grand Twins International and CAMGSM, while MJQ Education and ACLEDA Bank remained flat.
• On the growth board both stocks were up. DBD Engineering was up 0.48% or 10 riel to 2,080 riel per share, while JS Land was up 0.29% or 10 riel to 3,440 riel per share.
   
• ACLEDA Bank still recorded the highest trade volume of the day with 33,462 shares changing hands at a total value of 249 million riel or $61,000 US dollars, making up approximately 70% of September 2nd trade volume.
• MJQ Education followed in a distant second, recording only 4,629 shares traded at a total value of 9.3 million riel or $2,300 US Dollars, accounting for 10% of Monday’s trade volume.
   
• In other market news, a new report from Mekong Strategic Capital positions Cambodia as the big winner from transformational demographic changes across the region. According to the report, populations have started to contract, representing a headwind for growth in a number of countries, but not all. Cambodia is set to be a major beneficiary from demographic change. Another 20+ years of rapid economic growth is underwritten by a demographic dividend, with more people entering the key 30-49 age group, boosting private consumption and demand for credit.
• The report says Cambodia will be an increasingly attractive manufacturing destination, particularly for labour intensive activities. Additionally, a billion retirees globally by 2050 (with two thirds in China and India) represents an enormous addressable market for tourism, aged care, and retirement services. Another key point from the report is the imperative to develop local, institutional investment to boost capital markets and lead to significant capital deepening. Mekong Strategic Capital expects the value of local capital markets to rise exponentially over the next 20 years and recommends Cambodia to start investing more in its pension system.
   
• Exchange rate, the Khmer riel to USD weakened to 4,062 riel per US dollar, while the US dollar index was up to 101.63.
   
• Looking at global commodities, oil prices edged higher on Monday, recovering some losses from late last week, as Libyan oil exports remained halted and concerns about higher OPEC+ production from October eased.
• Brent crude futures settled up 59 cents, or 0.8%, at $77.52 U.S. dollars a barrel. Trading volumes were light as Monday marked a public holiday in the U.S. market.
• The price of gold traded at $2,501.07 US dollars per troy ounce, that’s down 0.75% from yesterday’s gold price per ounce and up 21.04% since the beginning of the year.
   
• U.S. stock futures were little changed Monday night as traders braced for a potentially tough month ahead after a strong but volatile August.
• Futures tied to the Dow Jones Industrial Average slipped 63 points, or 0.1%. S&P 500 futures fell marginally, and Nasdaq-100 futures eked out a small gain.

Watch the 2 September 2024 market update in Khmer below: