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B2B Asia News
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This is a B2B Cambodia Market Update for 22 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 0.14 points or 0.03% to 415.70.
- Total trade volume was down – 70,838 shares changed hands at a total value of roughly 395.6 million Khmer riel or around $96,400 US dollars.
- Only one stock was up on the main board, while the rest were flat or down. Pestech Cambodia was up 0.41% or 10 riel to 2,430 riel per share. Companies with a flat stock price were Grand Twins International, Royal Group Phnom Penh SEZ, Sihanoukville Autonomous Port, ACLEDA Bank, MJQ Education, and CamGSM.
- The two companies that saw drops in their stock price were Phnom Penh Autonomous Port, which was down 0.89% or 140 riel to 15,600 riel per share, and the Phnom Penh Water Supply Authority, which was down 0.28% or 20 riel to 7,020 riel per share.
- Over on the growth board, both companies remained flat. JS Land remained at 3,500 riel per share, while DBD Engineering stayed at 2,100 riel per share.
- ACLEDA Bank once again recorded the highest trade volume of the day with 36,852 shares changing hands at a total value of roughly 276.5 million riel or $67,300 US dollars, making up around 51% of all shares traded on July 22nd. CAMGSM recorded the second highest trade volume of the day with 21,697 shares changing hands,accounting for roughly 30% of Monday’s trade volume.
- The Khmer riel to USD weakened to 4,109 riel per US dollar, while the US dollar index was down to 104.19
- Oil prices rose in Asia on Monday as investors watched for further signs that the U.S. might start to cut interest rates as soon as September. Brent crude futures had gained 32 cents, or 0.39%, to $82.95 US dollars a barrel.
- News that President Joe Biden had decided on Sunday to abandon his re-election bid was not a major factor for oil markets. He has endorsed Vice President Kamala Harris as the candidate who should face Republican Donald Trump in November's election.
- Gold prices drifted higher as the dollar eased, following U.S. President Joe Biden's decision to withdraw from the 2024 presidential race, with investors turning to bullion as a hedge against an uncertain political and market outlook.
- Spot gold rose 0.1% to $2,402.61 US dollars per ounce,, while U.S. gold futures gained 0.2% to $2,403.30 US dollars.
- A Financial analyst said the prospect of rate cuts and political uncertainty in the United States are supporting gold prices, and conditions are in place for gold to see another record high before the end of 2024.
- As of the time of the Cambodian market’s closing, S&P 500 futures inched up Monday after the broad market index suffered its worst weekly losses since April last week as investors rotated out of megacap technology stocks for smaller names. Futures tied to the broad market index gained 0.5%. Dow Jones Industrial Average and Nasdaq-100 futures added 0.2% and 0.7%, respectively.
Watch the 22 July 2024 market update in Khmer below: