23 September 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for  23 September 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was down 0.12 points or 0.03% to 410.85.
• Total trade volume was a little down from Friday, with 125,847 shares changing hands at a total value of 746 million riel or over $183,000 US dollars.
• Only one stock was up on the main board, while five stocks were down and three were flat. Grand Twins International was up 6.53% or 250 riel to 4,080 riel per share.
• On the other hand, the biggest loser of the day was Pestech Cambodia, down 1.22% or 30 riel to 2,430 riel per share, followed by the Phnom Penh Water Supply Authority, which was down 0.90% or 60 riel to 6,600 riel per share. Other stocks down were the Phnom Penh Autonomous Port, Royal Group Phnom Penh SEZ, and the Sihanoukville Autonomous Port.
   
• ACLEDA Bank, MJQ Education and CAMGSM remained flat.
• Over on the growth board, DBD Engineering was up 1.46% or 30 riel to 2,080 riel per share, while JS Land was down 0.29% or 10 riel to 3,480 riel per share.
• ACLEDA Bank recorded the highest trade volume of the day with 66,173 shares changing hands at a total value of 493.5 million riel or $121,000 US dollars, making up roughly 52% of total shares traded on September 23rd.
• Grand Twins International recorded the second highest trade volume of the day, with 24,799 shares changing hands at a total value of 98 million riel or roughly $24,000 US dollars, accounting for 20% of Monday’s trade volume.
   
• In other business news, on September 20, 2024, Realestate.com.kh officially launched the Connect Centre, a new hub dedicated to professionalising the real estate industry through international standard training, workshops, and industry events.
• According to Realestate.com.kh, the Connect Centre hopes to act as a platform for innovation and collaboration, hosting several events, educational sessions, and exclusive sales opportunities for buyers, in order to strengthen relationships between key players and foster a more transparent, trusted, and sustainable real estate market in Cambodia. The centre is open seven days a week from 9 AM to 5 PM on weekdays, and 10 AM to 5 PM on weekends.
   
• Exchange rate, the KHR to USD weakened to 4,063 riel per USD while the USD Index rose to 101.06.
   
• Looking at global commodities, oil prices rose slightly on Monday after last week's cut to U.S. interest rates, and a dip in U.S. crude supply in the aftermath of Hurricane Francine countered weaker demand from top oil importer China.
• Brent crude futures for November edged up by 14 cents, or 0.19%, to $74.63 US dollars a barrel, registering a second consecutive week of gains after the news of the U.S. Federal Reserve interest rate cut by half a percentage point, which was a larger decrease in borrowing costs than many expected.
• On the international front, spot gold climbed 0.2% to $2,628.28 US dollars per ounce, reaching an all-time high of $2,630.93 US dollars per ounce earlier in the session.
• Non-yielding gold has risen over 27% this year, poised for its most significant annual gain since 2010. US gold futures also reflected this upward trend, increasing by 0.3% to $2,653.00 US dollars per ounce.
   
• As of the time of the Cambodian market’s closing, S&P 500 futures firmed 0.3% and Nasdaq futures added 0.6%. The S&P is up 1% so far in September, historically the weakest month for stocks, and has gained 19% year-to-date to reach all-time highs. This came after more than 20 billion shares changed hands on U.S. exchanges on Friday, the busiest session since January 2021.

Watch the 23 September 2024 market update in Khmer below: