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B2B Asia News
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This is a B2B Cambodia Market Update for 26 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 1.21 points or 0.29% to 414.49
- Total trade volume was up but still light. Only 68,962 shares changed hands at a total value of roughly 318 million Khmer riel or around $77,500 US dollars.
- Only two stocks were up on the main board. Grand Twins International led the market again, up 3.46% or 120 riel to 3,590 riel per share, followed by MJQ Education, up 0.49% or 10 riel to 2,060 riel per share.
- On the other hand, five stocks were down. Pestech Cambodia dropped 2.40% or 60 riel to 2,440 riel per share. The Phnom Penh Autonomous Port was down 1.30% or 200 riel to 15,160 riel per share. Other stocks down were CAMGSM, the Phnom Penh Water Supply Authority, ACLEDA Bank and the Sihanoukville Autonomous Port. Royal Group Phnom Penh SEZ was the only stock on the main board to remain flat.
- Over on the growth board, both DBD Engineering and JS Land stayed flat at 2,090 riel per share and 3,500 riel per share respectively.
- Grand Twins International replaced ACLEDA Bank to record the highest trade volume of the day with 22,399 shares changing hands at a total value of roughly 79.5 million riel or $19,375 US dollars, making up around 32% of all shares traded on July 26th. ACLEDA Bank was the second highest traded stock of the day with 18,307 shares changing hands, accounting for roughly 26% of Friday’s trade volume.
- In other business news, AirAsia announced the launch of a new route from Thailand’s Phuket to Cambodia's Siem Reap city, with three weekly flights starting from October 29, 2024. Earlier in July, AirAsia also established a direct route from Kuala Lumpur, Malaysia to Sihanoukville, offering three weekly flights.
- The Khmer riel to USD strengthened slightly to 4,105 riel per US dollar, while the US dollar index was slightly up to 104.36.
- Oil prices were little changed on Friday but on track for a third consecutive weekly decline, pressured by muted demand in China and expectations of a Gaza ceasefire deal that could ease Middle East tensions and accompanying supply concerns.
- Brent crude futures for September dipped 1 cent to $82.36 US dollars a barrel. U.S. West Texas Intermediate crude for September fell 6 cents to $78.22 US dollars. The benchmarks have lost about 5% in the past three weeks. Brent is trading marginally lower this week while WTI is down more than 2%.
- Gold prices regained some ground after falling sharply in the previous session, ahead of a key U.S. inflation reading that could offer more cues on when interest rate cuts will start.
- Spot gold rose 0.3% to $2,372.25 US dollars per ounce, but was down 1% so far this week. Prices had hit their lowest since July 9 on Thursday after stronger-than-expected U.S. economic growth data. Experts say this is “a bearish factor for gold prices, which tend to fare worse during times of economic strength when other assets perform more positively.”
- The Nasdaq's rebound is back on track with futures on the tech-heavy index jumping in Friday's premarket. The Dow and S&P 500 are also rising after markets experienced volatile trading on Thursday during which investors continued to shift out of technology stocks and into other areas.
- Futures for the Dow Jones Industrial Average added 184 points, or 0.5%. Contracts tied to the S&P 500 rose 0.7%, and those for the Nasdaq were up 1.0%. The S&P and the Nasdaq both fell yesterday, while the Dow rose 0.2%.
Watch the 26 July 2024 market update in Khmer below: