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B2B Asia News
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This is a B2B Cambodia Market Update for 23 May 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was up 1.19 points, or 0.29 per cent, to 413.21
- Trading volume was low, with only 120,469 shares changing hands at a trading value of over 770 million Khmer Riel or over 189,000 US dollars.
- On the Main Board, Phnom Penh Water Supply Authority (PWSA) saw the largest percentage rise, up 1.39 per cent or 100 riel per share to 7,280 riel per share.
- This was followed by the Phnom Penh SEZ Plc (PPSP), which was up 0.91 per cent.
- ACLEDA Bank Plc (ABC), the Sihanoukville Autonomous Port (PAS) and Grand Twins International (GTI) also saw their stock prices increase.
- The biggest loser of the day was the Phnom Penh Autonomous Port (PPAP), which was down 60 riel to 13,400 riel per share, while the remaining companies on the Main Board saw their stocks remain flat.
- ACLEDA Bank (ABC) remained the top trading contributor to the market, with 91,945 shares changing hands, amounting to 75 per cent of the market. Total trade value was around 170,000 US dollars, or 694.8 million Khmer riel.
- MJQ Education Plc. followed ACLEDA Bank, with 17,134 shares changing hands at a trade value of roughly 8,556 US Dollars or 34.9 million Khmer riel.
- Sihanoukville Autonomous Port (PAS) and Pestech (Cambodia) Plc. (PEPC) saw the lowest shares traded, with only 15 and 30 shares traded respectively.
- On the growth board, which comprises only two listed companies, JS Land (JSL) and DBD Engineering (DBDE), both were down 20 and 10 riel respectively, with DBD Engineering’s price closing at 2,380 Khmer riel per share, and JS Land’s price closing at 1,900 Khmer riel per share, at a combined value of nearly 8 million Khmer riel or roughly 1956 US Dollars.
- In corporate news, Sihanoukville Autonomous Port is the latest to publish its 1st quarterly report for 2024, reporting an increase in revenue and decrease in operating profit and net profit. The company reports this was due to increasing container cargo and general cargo throughput, and because in Q1 2023 the company saw an increased net gain from land assets, making it so that a year-on-year comparison naturally reveals a high decrease in both operating profit and net profit in Q1 2024.
- KHR Riel to USD remained the same at 4,077, while the US dollar index was up to 105.10
- Over in the US, Nvidia Corporation, a multinational tech company that specialises in graphic processing units, as well as artificial intelligence hardware and software, saw its shares soar 10 per cent on Thursday after the company announced a 10-for-one stock split in its quarterly report which included that the company’s revenue and forecast are above analyst estimates.
- Oil prices fell for a fourth consecutive session and settled at multi-month lows due to worries over demand growth in the oil market following the prospect of higher-for-longer U.S. interest rates. Brent crude futures settled lower by 54 cents, or 0.7 per cent, at 81.36 US dollars a barrel, the lowest since January.
- Gold also fell to more than a week's low, extending its decline for a third straight session. Spot gold fell 1.8 per cent to 2,336.39 US dollars per ounce, its lowest since May 13. U.S. gold futures settled 2.3 per cent lower to 2,337.20 US dollars per ounce.
- The Dow Jones Industrial Average fell 605.78 points, registering its worst day of 2024, as Nvidia’s blockbuster earnings failed to lift the broader market.
- The S&P 500 dropped 0.74 per cent, closing at 5,267.84, and the Nasdaq Composite tumbled 0.39 per cent to end at 16,736.03.
Watch the 23 May 2024 market update in Khmer below: