27 November 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 27 November 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 1.75 points, or 0.44%, to 402.36. 
• Total trade volume was down with 63,278 shares changing hands at a total value of 402.6 million riel or approximately $100,000 US dollars.
• On the main board, six stocks were up, while two stocks were down. The top gainers for today was Grand Twins International, was up 1.94% or 100 riel to 5,260 riel per share, followed by CAMGSM was up 0.83% or 20  riel to 2,440 riel per share. 
• Other stocks also up were Pestech Cambodia, MJQ Education, Royal Group Phnom Penh SEZ, and Phnom Penh Water Supply Authority.
• On the downside, Phnom Penh Autonomous Port was down 0.30% or 40 riel to 13,460 riel per share, and the Sihanoukville Autonomous Port dropped 0.18% or 20 riel to 11,280 riel per share.  Meanwhile, ACLEDA Bank remained flat.
• Over on the growth board, both stocks were up. DBD Engineering was up 0.49% or 10 riel to 2,040 riel per share, and JS Land increased 1.18% or 40 riel to 3,440 riel per share.
   
• ACLEDA Bank once again recorded the highest trade volume of the day, with 43,000 shares changing hands at a total value of 300 million riel, or around $74,600 US dollars, making up roughly 60% of total shares traded on November 27th.
• Grand Twins International recorded the second highest trade volume of the day with 9,521 shares changing hands at a total value of 50 million riel or approximately $12,400 US dollars, making up 13% of Wednesday’s trade volume.
   
• In other market news, The Council for the Development of Cambodia launched the Investment Project Management System on November 27, 2024, at the Hyatt Regency Phnom Penh. The system aims to streamline and digitise investment procedures, making it easier for businesses to invest in Cambodia.
• The cdcIPM system is a new digital technology initiative by the Council for the Development of Cambodia (CDC) to facilitate investment transactions, reduce time, ensure transparency, integrity, and efficiency, and contribute to building a digital economy, society, and government in Cambodia.
• During the event, Deputy Prime Minister and First Vice Chairman of the CDC, Sun Chanthol, stated that the new system follows the examples of Singapore's Economic Development Board (EDB) and Indonesia’s Investment Coordinating Board (BKPM).
   
• B2B Cambodia and Moores Rowland Cambodia jointly-hosted ‘Invest Cambodia: The Asian Tiger of the 21st Century’ on November 26, 2024, at the Novotel Phnom Penh, bringing together industry leaders, investors and experts to discuss critical topics including ESG audits, real estate opportunities, digital asset growth and the scope of Hong Kong and China’s investments in Cambodia.
• The half-day seminar was dedicated to exploring Cambodia's vibrant investment landscape and its emerging role in Asia’s economy, and saw the attendance of around 100 participants. The event also marked the official announcement of Moores Rowland Cambodia's, highlighting a new strategic development within the Cambodian business community.
   
• Exchange rate, the KHR to USD weakened slightly to 4,030 riel per USD, while the USD index was slightly down to 106.57.
   
• Looking at global commodities, oil prices edged up on Wednesday, with markets assessing the potential impact of a ceasefire deal between Israel and Hezbollah and Sunday's OPEC+ meeting, in which the group could delay a planned increase to oil output.
• Brent crude futures rose 29 cents, or 0.4%, to $73.10 US dollars a barrel.
• Gold prices rose as the U.S. dollar eased, while investor focus shifted to key inflation data from the world's biggest economy for cues on the likely scale of a U.S. Federal Reserve rate cut next month.
• Spot gold was up 0.6% to $2,646.48 US dollars per ounce after hitting a more than one-week low on Tuesday. 
• U.S. gold futures rose nearly 1% to $2,647.00 US dollars.
   
• Stock futures were slipping on Wednesday as Wall Street waited for the U.S. Federal Reserve’s preferred inflation gauge, the final major economic data due before the Thanksgiving holiday.
• As of the time of the Cambodian market’s closing, Futures tracking the Dow Jones Industrial Average slipped 17 points, or less than 0.1%, and contracts tied to the S&P 500 were down 0.1%. Futures for the tech-heavy Nasdaq 100 index slid 0.2%.

Watch the 27 November 2024 market update in Khmer below: