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B2B Asia News
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This is a B2B Cambodia Market Update for 25 September 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was up 0.56 points or 0.14% to 411.41.
- Total trade volume was down from Monday, with 60,165 shares changing hands at a total value of 325 million riel or over $80,000 US dollars.
- Three stocks were up on the main board. Pestech Cambodia led the market, up 0.82% or 20 riel to 2,450 riel per share, followed by CAMGSM, which was up 0.41% or 10 riel to 2,430 riel per share. The Sihanoukville Autonomous Port was also up to 11,880 riel per share.
- On the downside, Grand Twins International was the biggest loser of the day, down 1.47% or 60 riel to 4,020 riel per share, followed by the Phnom Penh Water Supply Authority, which was down 0.91% or 60 riel to 6,540 riel per share. The Phnom Penh Autonomous Port was also slightly down today.
- Meanwhile, MJQ Education, ACLEDA Bank and Royal Group Phnom Penh SEZ remained flat.
- Over on the growth board, both stocks were down. DBD Engineering was down 0.48 % or 10 riel to 2,070 riel per share, while JS Land was down 0.57% or 20 riel to 3,460 riel per share.
- ACLEDA Bank recorded the highest trade volume of the day with 27,908 shares changing hands at a total value of 208 million riel or nearly $51,200 US dollars, making up roughly 44% of total shares traded on September 25th.
- MJQ Education recorded the second highest trade volume of the day, with 10,052 shares changing hands at a total value of 98 million riel or roughly $5,000 US dollars, accounting for 16% of Wednesday’s trade volume.
- In other business news, the Asian Development Bank (ADB) has maintained its growth forecast for Cambodia at 5.8 per cent for 2024 and 6.0 per cent for 2025. It had previously revised its earlier inflation projection for 2024 down from 2.0 to 0.5 per cent, reflecting the slow increase in food prices and the decline in fuel prices in the first half of 2024. The rebound in the manufacturing sector, especially in garments, footwear, and travel goods (GFT), is powering this growth.
- According to Cambodian government data from July, Cambodia's macroeconomic performance is showing signs of recovery, with the country's GDP growth forecast in the medium term for 2025-2027 expected to reach 6.5 per cent, and inflation projected to normalise down to 2.5 per cent.
- Exchange rate, the KHR to USD remained stable at 4,063 riel per USD while the USD Index rose to 100.43.
- Looking at global commodities, oil prices were little changed on Wednesday as investors reassessed the ability of China's stimulus plans to boost its economy, while declining U.S. crude oil and fuel stockpiles provided support.
- Brent crude futures were down 8 cents, or 0.1%, at $75.09 US dollars a barrel.
- Prices rose by about 1.7% on Tuesday after China announced its most aggressive economic stimulus since the COVID-19 pandemic, with interest rate cuts and government funding.
- Gold hit a record high on Wednesday, boosted by a softer US dollar and hopes of more interest rate cuts, while investors looked for new signals for the U.S. Federal Reserve’s interest rate trajectory.
- Spot gold was steady at $2,658.08 US dollars per ounce, after hitting an all-time high of $2,670.43 US dollars earlier. U.S. gold futures gained 0.2% to $2,682.10 US dollars.
- Stock futures slipped as Wall Street looks to extend its September gains. As of the time of the Cambodian market’s closing, S&P 500 futures were down 0.2%, and Nasdaq-100 futures fell 0.3%. Futures tied to the Dow Jones Industrial Average dipped 37 points, or 0.1%.
Watch the 25 September 2024 market update in Khmer below: