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B2B Asia News
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This is a B2B Cambodia Market Update for 28 November 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was up 0.22 points, or 0.05%, to 402.58.
- Total trade volume was up, with 69,177 shares changing hands at a total value of 400 million riel or approximately $99,000 US dollars.
- On the main board, two stocks were up, while three stocks were down. The top gainers were the Sihanoukville Autonomous Port, up 0.71% or 80 riel to 11,360 riel per share, followed by the Phnom Penh Autonomous Port, which was up 0.45% or 60 riel to 13,520 riel per share.
- On the downside, Royal Group Phnom Penh SEZ was the biggest loser of the day, down 0.44% or 10 riel 2,280 riel per share, followed by Pestech Cambodia, which was down 0.41% or 10 riel to 2,400 riel per share. Grand Twins International was also down 20 riel to 5,240 riel per share.
- The rest of the main board, including ACLEDA Bank, MJQ Education, CAMGSM, and the Phnom Penh Water Supply Authority, remained flat.
- Over on the growth board, DBD Engineering was down 0.49% or 10 riel to 2,030 riel per share, while JS Land was up 0.29% or 10 riel to 3,450 riel per share.
- ACLEDA Bank once again recorded the highest trade volume of the day, with 42,819 shares changing hands at a total value of 296 million riel, or around $73,000 US dollars, making up roughly 54% of total shares traded on November 28th.
- Grand Twins International recorded the second highest trade volume of the day with 13,569 shares changing hands at a total value of 70 million riel or approximately $17,000 US dollars, making up around 17% of Thursday’s trade volume.
- In other market news, the Bank of China (BOC) has officially launched its renminbi clearing services in Cambodia as trade and investment between Cambodia and China surge.The opening of the renminbi clearing bank in Cambodia will enable customers in both countries to enjoy a comprehensive range of financial services, covering renminbi clearing and settlement, liquidity management, investment and financing support, direct currency exchange transactions, and QR code payment services.
- During the launch event, the Bank of China Phnom Penh Branch also signed renminbi service cooperation agreements with Canadia Bank Plc. and ABA Bank.
- Exchange rate, the KHR to USD remained stable at 4,030 riel per USD, while the USD index was slightly down to 106.26.
- Looking at global commodities, oil prices drifted lower on Thursday after a surprise jump in U.S. gasoline inventories, with investors focusing on this weekend's OPEC+ meeting to discuss oil output policy.
- Brent crude futures fell by 20 cents, or 0.27%, to $72.63 US dollars per barrel. Trading is expected to be light due to the U.S. Thanksgiving holiday.
- Gold prices held steady on Thursday as investors assessed a wave of economic data indicating persistent U.S. inflation, hinting that the U.S. Federal Reserve may proceed cautiously with further interest rate cuts.
- Spot gold held its ground at $2,637.78 US dollars per ounce.
- U.S. gold futures edged 0.1% lower to $2,637.30 US dollars.
- U.S. markets are closed Thursday for the Thanksgiving holiday, however, U.S. stocks fell in light trading on Wednesday just one day ahead.
- Asia-Pacific markets traded mixed overnight as investors assessed a surprise interest rate cut by South Korea.
Watch the 28 November 2024 market update in Khmer below: