20 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.53  points or 0.13% to 410.97.
• Total trade volume was up with 141,952 shares changing hands at a total value of 968 million riel or over $238,600 US dollars.
• Only one stock was up on the main board, while five stocks were down. Pestech Cambodia was up 1.23% or 30 riel to 2,460 riel per share.
• On the downside, Phnom Penh Autonomous Port was the biggest loser of the day, down 0.73% or 100 riel to 13,620 riel per share, followed by the Phnom Penh Water Supply Authority, which was down 0.60% or 40 riel to 6,660 riel per share. Other stocks down were the Sihanoukville Autonomous Port, ACLEDA bank and Grand Twins International.
• Meanwhile, Royal Group Phnom Penh SEZ, MJQ Education and CAMGSM remained flat.
• Over on the growth board, DBD Engineering was down 0.97% or 20 riel to 2,050 riel per share, while JS Land was up 1.16% or 40 riel to 3,490 riel per share.
   
• ACLEDA Bank recorded the highest trade volume of the day with 91,416 shares changing hands at a total value of 649.5 million riel or $159,900 US dollars, making up roughly 64% of total shares traded on September 20th.
• The Phnom Penh Water Supply Authority recorded the second highest trade volume of the day, with 44,831 shares changing hands at a total value of 296.3 million riel or roughly $72,980 US dollars, accounting for 31% of Friday’s trade volume.
   
• In other business-related news, the Cambodian Minister of Labour and Vocational Training announced the new monthly minimum wage for the country's garment, footwear and travel goods industry in 2025, at 208 U.S. dollars, which is up 1.96 percent or 4 dollars from the current 204 dollar wage. Workers will also receive other monthly fringe benefits, including an extra 10 dollars per month for regular attendance and an extra 7 dollars per month for transportation and rent.
• On Friday morning, the Securities and Exchange Regulator of Cambodia (SERC) and the Digital Government Committee (DGC) signed a Memorandum of Understanding on the launch of the government document verification platform, Verify.gov.kh, as well as on giving digital skills training for SERC officials.
• Verify.gov.kh is a platform based on blockchain technology, and was launched by the Ministry of Post and Telecommunications and the Digital Government Committee in 2022. The platform allows for the verification of official documents as genuine, improving the speed of government processing.
   
• Exchange rate, the KHR to USD weakened to 4,061 riel per USD while the USD Index rose to 100.70.
   
• Looking at global commodities, oil prices eased on Friday, but were on track to register gains for a second straight week following a large cut in U.S. interest rates and declining global stockpiles.
• Brent futures were down 35 cents, or 0.47%, at $74.53 US dollars.
• Gold prices have hit an all-time high of $2,607 per ounce, which can also be largely attributed to the U.S. Federal Reserve's recent decision to cut interest rates.
   
• Dow futures flickered near the flatline after the 30-stock average closed at a new record, bolstered by enthusiasm over the interest rate cut.
• As of the time of the Cambodian market’s clowning, Dow futures were little changed. Futures tied to the S&P 500 inched lower by 0.18%, while Nasdaq 100 futures slipped 0.26%.

Watch the 20 September 2024 market update in Khmer below: