26 June 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 26 June 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange (CSX) Index was up today by 0.41 points or 0.10 per cent to 411.03.
• Total trade volume was light, at 117,144 shares changing hands at a total trade value of 528 million Khmer riel, or roughly $128,200 US dollars.
• On the main board, three stocks were up with Grand Twins International once again leading the market – up 9.58 per cent or 250 riel to 2,860 riel per share. Royal Group Phnom Penh SEZ followed in second, up 2.31% or 50 riel to 2,210 riel per share, while the third stock that saw a rise in its price was ACLEDA Bank, up 0.27 per cent to 7,560 riel per share.
• On the downside, four stocks saw price drops. The Phnom Penh Autonomous Port was the biggest loser of the day, down 1.40 per cent or 180 riel to 12,700 riel per share. Following in second was Pestech Cambodia, down 1.38 per cent or 30 riel to 2,150 riel per share. The other two stocks down were the Sihanoukville Autonomous Port and the Phnom Penh Water Supply Authority.
• Meanwhile on the growth board, both JS Land DBD Engineering stayed flat.
• Grand Twins International recorded the highest trade volume of the day, with 35,631 shares changing hands at a value of 100.4 million Khmer riel or roughly $24,390 US dollars, accounting for around 28% of all shares traded on June 26th. While ACLEDA Bank had the second highest trade volume of the day, with 31,018 shares changing hands, the stock’s trade value was more than double of Grand Twins International, totalling 233.8 million riel or roughly $56,790 US dollars. ACLEDA Bank continues to consistently be among the highest traded stocks on the market, both in terms of trade volume and value.
   
• In other market news, a new 41 billion Khmer Riel or $9.97 million US dollar corporate green bond from Royal Group Phnom Penh SEZ Plc. was approved to be listed on the CSX from June 28th onwards. According to the disclosure notice posted on the CSX website, the bond has a maturity date of 5 years and a nominal value of 100,000 riel or roughly $25 US dollars per unit.
• The disclosure notice also details that the bond can be partially redeemed before the maturity date, with semi-annual payments every December and June. The redemption period will begin from the second year following the bond’s issuing, so from December 2026 until the end of the five year maturity period.
• ACLEDA Bank also issued a disclosure notice to notify its investors and the public that its subsidiary in Lao PDR – ACLEDA Bank Lao Ltd. – has increased its registered capital by 40 billion Laotian Kip or roughly $3.3M US dollars, in 2024 in order to meet the minimum registered capital requirements as per the updated Lao PDR Law on Commercial Banks. The Bank of Lao PDR, who issued the law, raised the minimum registered capital requirements to 500 billion Laotian Kip or $41.6 million US dollars within 5 years.
• The increase in registered capital will also result in an increase in the number of stocks listed by ACLEDA Bank on the CSX, from 46 million shares to 50 million shares.
   
• The Khmer riel to USD strengthened slightly to 4,115 riel per US dollar, while the US dollar index was slightly up to 105.88
• Oil prices also inched up on Wednesday nearing their highest level in almost two months, driven by forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from conflict in the Middle East.
• The American Petroleum Institute (API) on Tuesday reported that U.S. crude oil stocks rose by 914,000 barrels, however, analysts still expect them to decline by nearly 3 million barrels in official inventory data due on Wednesday. 
• Brent crude oil futures were up 63 cents, or 0.7 per cent, to $85.64 US dollars a barrel.
• Gold prices were steady as investors still wait for the report on the U.S. Federal Reserve's preferred inflation gauge due this week for the latest clues on the central bank's rate cut prospects.
• Spot gold eased 0.1 per cent to $2,317.86 US dollars per ounce, after hitting its lowest since June 18th earlier in the session. U.S. gold futures also fell 0.1 per cent to $2,329.60 US dollars.
• Stock futures rose on Wednesday morning after the S&P 500 rebounded from a rough start to the week.
• S&P 500 futures inched up 0.1 per cent, while Nasdaq 100 futures gained 0.19 per cent. Futures tied to the Dow Jones Industrial Average were flat.

Watch the 26 June 2024 market update in Khmer below: