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B2B Asia News
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This is a B2B Cambodia Market Update for 24 May 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was up 1.25 points, or 0.3 per cent, to 414.46
- Even so, trading volume was lower than yesterday, with only 89,627 shares changing hands at a trading value of over 509.5 million Khmer Riel or over 124,000 US dollars.
- On the Main Board, not a single stock saw a percentage loss.
- Pestech Cambodia Plc. (PEPC) was the percentage rise winner, up 2.29 per cent or 50 riel per share to 2,230 riel per share,
- Followed by the Phnom Penh Water Supply Authority (PWSA), which was up by 1.37 per cent or 100 riel per share to 7,380 riel per share.
- ACLEDA Bank (ABC), Sihanoukville Autonomous Port (PAS) and the Phnom Penh Autonomous Port (PPAP) also saw their stock prices increase, while the rest of the board remained flat.
- ACLEDA Bank (ABC) once again remained the top trading contributor to the market, with 44,684 shares changing hands at a total trade value of roughly 83,000 US Dollars or 339.6 million Khmer Riel.
- The company with the second highest trade volume was the Phnom Penh Water Supply authority with 12,478 shares trading hands at a total trade value of 22,421 US dollars or 91.6 million Khmer Riel.
- The Sihanoukville Autonomous Port (PAS) saw the lowest shares traded, with only 70 shares changing hands.
- Meanwhile on the growth board, both DBD Engineering and JS Land saw no change.
- In other market news, the Cambodia Securities Exchange published a press release announcing “Zero Commissions on All Stock Purchases” during the 2024 dividend distribution season.
- According to the press release, from May 27th to June 28th, investors can purchase any stocks listed on the CSX without incurring any fees, through any brokerage firms that are the members of the CSX.
- The exchange affirms that the decision to introduce 0 per cent fees for this limited amount of time reflects a dedication to putting investors first and providing them with tools and resources to achieve their financial goals.
- So remember to purchase any stocks on the CSX from May 27th to June 28th to benefit from 0 per cent fees.
- Khmer riel to USD still remained the same at 4,077, while the US Dollar Index fell slightly to 105.
- In commodities, Oil prices were stable on Friday, with Brent crude futures rising 5 cents to 81.41 US dollars a barrel.
- Gold prices reached a two-week low, setting the stage for their most significant weekly decline in nearly eight months. Spot gold hovered at $2,330.19 US Dollars per ounce after previously dipping to its lowest since May 9th earlier in the session. U.S. gold futures eased 0.3 per cent at $2,330.8 dollars.
- Following unexpectedly strong reports on the US economy raising the possibility of interest rates staying high, shares retreated in Asia.
- Japan’s Nikkei 225 index lost 1.2 per cent to 38,646.11,
- In Hong Kong, the Hang Seng fell 1.5 per cent to 18,590.33,
- While the Shanghai Composite index dropped 0.9 per cent to 3,088.87.
- As of the time of the Cambodian market’s closing, the futures for the S&P 500 and the Dow Jones Industrial Average in the US edged 0.1 per cent higher after having closed sharply lower on Thursday.
Watch the 24 May 2024 market update in Khmer below: