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B2B Asia News
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This is a B2B Cambodia Market Update for 27 August, 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 410.27.
- Total trade volume was up with 86,557 shares changing hands at a total value of 423.8 million riel or $104,000 US Dollars.
- On the mainboard, most stocks were down, with only two up. The Phnom Penh Autonomous Port led the market, up 0.90% or 120 riel to 13,480 riel per share, followed by CAMGSM which was up 0.42% or 10 riel to 2,410 riel per share.
- On the downside, the Phnom Penh Water Supply Authority was down 0.58% or 40 riel to 6,800 riel per share, followed by MJQ Education which was down 0.49% or 10 riel to 2,040 riel per share.
- Other stocks down were Pestech Cambodia, ACLEDA Bank, Phnom Penh Special Economic Zone, and the Sihanoukville Autonomous Port, while Grand Twins International remained flat.
- Over on the growth board, both stocks were down. DBD Engineering was down 0.96% or 20 riel to 2,070 riel per share, and JS Land was down 0.58% or 20 riel to 3,450 riel per share.
- ACLEDA Bank recorded the highest trade volume of the day with 44,559 shares changing hands at a total value of 331 million riel or $81,250 US dollars, making up approximately 49% of August 27th’s trade volume. Royal Group Phnom Penh SEZ again recorded the second highest trade volume of the day with 26,117 shares changing hands at a total value of 59 million riel or $14,500 US Dollars, accounting for 29% of Tuesday’s trade volume.
- In other market news, the Cambodia Securities Exchange released its second quarterly report, which reveals that the exchange recorded a total market capitalisation of 11.22 trillion riel, or approximately $2.73 billion dollars, for its equity market at the end of Q2-2024, which is a 10.09 percent decline compared to the same period in 2023. The CSX index by the end of quarter 2 reached 414.14, which is a decrease of 9.36 percent compared to Q1 of 2024, and 10.14 percent decreased compared to Q2 of 2023.
- Exchange rate, the Khmer riel to USD strengthened to 4,075 riel per US dollar, while the US dollar index was down to 100.79.
- Looking at global commodities, oil prices slipped slightly on Tuesday after rebounding more than 7% over the previous three sessions on supply concerns prompted by fears of widening Middle East conflict and potential shutdown of Libyan oil fields.
- Brent crude futures were down 30 cents, or 0.4%, at $81.13 US dollars a barrel.
- After the jump in oil prices on the back of geopolitical risk in the Middle East and a production halt in Libya, market participants are now holding back to assess further developments.
- Gold prices eased, consolidating near record highs reached last week, as investors sought clarity on the magnitude of an imminent interest rate cut from the U.S. Federal Reserve ahead of an inflation report due this week.
- Spot gold fell 0.3% to $2,510.31 US dollars per ounce. U.S. gold futures fell 0.4% to $2,545.60 US dollars.
- As of the time of the Cambodian market’s closing, U.S. stocks were rising after a string rally in the previous session ahead of chip maker Nvidia’s quarterly earnings, which are seen as a potential make-or-break moment for the artificial intelligence trading craze.
- Dow Jones Industrial Average futures were up 20 points, or 0.1%, after the index set a new record closing high on Monday.
- S&P 500 futures were also up 0.1%, while contracts tied to the tech-heavy Nasdaq 100 futures rose 0.2%.
Watch the 27 August, 2024 market update in Khmer below: