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20 August, 2024 - Market Update - B2B Cambodia

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20 August, 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 20 August, 2024

This is a B2B Cambodia Market Update for 20 August, 2024 reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

  • The Cambodia Securities Exchange Index was up 0.91 points or 0.22% to 412.18. 
  • Total trade volume was down from yesterday, with 46,373 shares changing hands at a total value of roughly 288 million Khmer riel or around $70,000 US dollars.
  • On the mainboard, three stocks were up. CamGSM led the market, up 0.41% or 10 riel to 2,430 riel per share, followed by Sihanoukville Autonomous Port, which was up 0.34% or 40 riel to 11,840 riel per share. ACLEDA Bank was also up by 0.27% to 7,480 riel per share.
  • On the other hand, three stocks were also down. The Phnom Penh Autonomous Port was down 1.52% or 220 riel to 14,300 riel per share, and both Pestech Cambodia and Grand Twins International were down 0.82% to 2,420 riel and 3,620 riel per share respectively. The rest of the main board remained flat.
  • On the growth board, both DBD Engineering remained flat at 2,080 riel per share, while JS Land was down 0.29% or 10 riel to 3,450 riel per share.
     
  • ACLEDA Bank record the highest traded volume of the day with 29,474 shares changing hands at the total value of 220 million riel or $53,730 US dollars, making up of 62% of the total trade volume on August 20th. Grand Twins International recorded the second most traded company but only 5,260 share changing hand at the total value of 19 million riel or $4,648 US dollars, making up approximately 11% of Tuesday trade volume.
     
  • In other market news, Golden Tree Co.,Ltd released its second quarterly report for 2024, disclosing a decrease in total revenue, total assets and total equity, as well as an increase in net loss.
  • Important Financial Indicators investors of Golden Tree Co. Ltd should know in the second quarter of 2024 are that the company’s Return on Assets dropped 1.04%, Return on Equity fell 10.49%, and the Net Profit Margin also decreased by 68%. The company’s interest coverage ratio is currently 0.76x.
     
  • Exchange rate, the Khmer riel to USD stayed flat at 4,090 riel per US dollar, while the US dollar index was down to 101.81.
  • The dollar wobbled near a seven-month low on Tuesday on bets the U.S. central bank will start cutting interest rates from next month, with traders bracing for comments from Federal Reserve Chair Jerome Powell on Friday.
  • The weakness in the dollar lifted the euro to its highest this year, while sterling was perched near a one-month peak.
     
  • Oil prices edged lower on Tuesday as an agreement to continue tackling disagreements blocking a ceasefire deal in Gaza eased supply concerns and China's economic weakness weighed on the demand outlook.
  • Brent crude was down 80 cents, or 1.03%, at $76.86 US dollars per barrel.
  • Gold prices marked a record high as investors flocked to the safe-haven asset amid a record-breaking rally driven by expectations that the U.S. Federal Reserve will deliver an interest rate cut next month.
  • Spot gold was up 0.7% at $2,522.17 US dollars per ounce, surpassing a previous record hit on Friday. U.S. gold futures gained 0.8% to $2,561.10 US dollars.
     
  • Japan’s Seven & i, the owner of the global convenience store chain 7-Eleven, revealed on Monday that it has received an offer from Canadian rival, Alimentation Couche-Tard, to buy the company. While the value of the preliminary proposal by Couche-Tard, which also owns Circle-K, has not been disclosed, it would make the 7-Eleven parent the largest-ever Japanese target of a foreign buyout.
  • Shares in Japan's Seven & i reversed course on Tuesday, as investors weighed up the regulatory hurdles to Alimentation Couche-Tard’s takeover bid to create a convenience store giant with almost a fifth of the U.S. market.
  • The news of the deal sent Seven's shares surging by almost 23% in Tokyo on Monday, valuing the retailer at around 5.6 trillion yen, or $38 billion dollars. The stock closed down 10.6% on Tuesday.
  • U.S. stock index futures inched higher in range-bound trading on Tuesday as bets of a September interest rate cut solidified.
    Dow Jones Industrial Average futures slipped 5 points, or 0.01%. Futures tied to the S&P 500 flickered near the flatline, and Nasdaq 100 futures added 0.14%.
  • The S&P 500 and the Nasdaq extended gains to an eighth straight session on Monday, their longest winning streak so far this year.

Watch the 20 August, 2024 market update in Khmer below: