26 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.07 points or 0.02% to 411.34. 
• Total trade volume was down compared to Wednesday with 47,536 shares changing hands at a total value of 251 million riel or over $61,800 US dollars.
• Two stocks were up on the main board. Grand Twins International led the market, up 0.50% or  20 riel to 4,040 riel per share, followed by Pestech Cambodia, which was up 0.41% or 10 riel to 2,460 riel per share.
• Only one stock was down today, the Sihanoukville Autonomous Port was down 0.34% or 40 riel to 11,840 riel per share. The rest of the main board, including Phnom Penh Water Supply Authority, Phnom Penh Autonomous Port, Royal Group Phnom Penh SEZ, ACLEDA bank, MJQ Education, and CAMGSM, remained flat.
• Over on the growth board, DBD Engineering stayed flat at 2,070 riel per share, while JS Land was down 0.87% or 30 riel to 3,430 riel per share.
   
• ACLEDA Bank once again recorded the highest trade volume of the day with 19,093 shares changing hands at a total value of 142 million riel or nearly $35,000 US dollars, making up roughly 38% of total shares traded on September 26th.
• Grand Twins International recorded the second highest trade volume of the day, with 7,856 shares changing hands at a total value of 31 million riel or roughly $7,700 US dollars, accounting for 16% of Thursday’s trade volume.
   
• In other business news, the World Bank approved $80 million dollars in financing on September 23rd to support Cambodia’s efforts to improve the quality of higher education and research, mainly in science, technology, engineering, and mathematics. Funding for the project comes from the International Development Association, the World Bank’s concessional lending arm for low-income countries.
• This six-year project will support the efforts of nine public institutions of higher education to develop well-qualified graduates and research products that contribute to the country’s economic development. Some 32,000 students – including about 13,000 women – will benefit from its activities, which include updating curricula, training lecturers, and digitising the delivery of education.
   
• Exchange rate, the KHR to USD remained stable at 4,063 riel per USD while the USD Index rose slightly to 100.92.
   
• Looking at global commodities, oil prices slumped on Thursday, reversing earlier gains, on news that Saudi Arabia, the world's biggest crude exporter, will give up on its price target in preparation for raising output.
• Brent crude futures were down 2.57% to $71.57 US dollars a barrel.
• Saudi Arabia is preparing to abandon its unofficial price target of $100 dollars a barrel for crude as it prepares to increase output.
• Gold prices are holding steady near record highs as traders anticipate further US Federal Reserve rate cuts. As of Thursday morning, Spot gold was up 0.2%, trading at $2,661.25 US dollars per ounce. This was close to the record high of $2,670.43 US dollars per ounce hit on Wednesday.
• US gold futures remained stable at $2,684.50 US dollars per ounce.
   
• European shares followed Asia higher on Thursday, driven by news of aggressive economic stimulus from China and a fall in oil prices.
• As of the time of the Cambodian market’s closing, S&P futures were up 0.75% and Nasdaq futures were up 1.36%.

Watch the 26 September 2024 market update in Khmer below: