29 August 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 29 August 2024,

reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.03 points or 0.01% to 410.99.
• Total trade volume was down with 45,471 shares changing hands at a total value of 261.9 million riel or $64,400 US Dollars.
• On the mainboard, three stocks were up. Royal Group Phnom Penh SEZ led the market, 0.90% or 20 riel to 2,230 riel per share, followed by Pestech Cambodia, which was up 0.41% or 10 riel to 2,450 riel per share. Grand Twins International was also up 0.28%.
• Only one stock, the Phnom Penh Water Supply Authority, was down, dropping 0.29% or 20 riel to 6,820 riel per share.
• The six remaining stocks on the main board remained flat.
• On the growth board DBD Engineering remained flat once again at 2,070 riel per share, while JS Land was down 1.46% or 50 riel to 3,380 riel per share.
   
• ACLEDA Bank recorded the highest trade volume of the day with 26,759 shares changing hands at a total value of 199.9 million riel or $49,200 US dollars, making up approximately 57% of August 29th’s trade volume. MJQ Education recorded the second highest trade volume of the day with 8,321 shares changing hands at a total value of 16.8 million riel or $4,160 US Dollars, accounting for 17.7% of Thursday’s trade volume.
   
• In other market news, Bitkub, a Thailand-based company, has signed an agreement with Cambodian conglomerate WorldBridge Group for a joint venture to bring digital asset services to Cambodia. According to multiple press reports, the newly formed joint venture aims to introduce the benefits of Web3 and blockchain technology to improve financial inclusion and digital asset solutions in Cambodia.
• The company is licensed by the Thai Securities and Exchange Commission, and Bitkub Online, owned by Bitkub Capital, is the largest cryptocurrency exchange in Thailand, holding 77 percent of the market share. Bitkub Capital is also gearing for an initial public offering (IPO) on the Stock Exchange of Thailand in 2025.
   
• Exchange rate: the Khmer riel to USD strengthened to 4,061 riel per US dollar, while the US dollar index was up to 101.17
   
• Looking at global commodities, oil prices steadied on Thursday, after two sessions of losses, as supply concerns over Libya returned to focus, while a smaller-than-expected draw in U.S. crude inventories sapped demand expectations.
• Brent crude futures slipped 7 cents, or 0.09%, to $78.58 US dollars a barrel.
• Gold prices rose on expectations that the U.S. Federal Reserve might begin interest rate cuts next month, and underpinned by ongoing tensions in the Middle East, while a slew of U.S. economic data remained on investors’ radar.
• Spot gold added 0.6% to $2,516.63 US dollars per ounce, not too far from a record high of $2,531.60 US dollars hit on Aug. 20. U.S. gold futures rose 0.5% to $2,550 US dollars.
   
• Stock futures rose, as investors looked to recover from declines seen in the previous session. Wall Street also appeared to shake off a post-earnings decline in Nvidia.
• Dow Jones Industrial Average futures were up 197 points, or 0.5%. S&P 500 and Nasdaq-100 futures climbed 0.3% and 0.4%, respectively. 
• Nvidia shares were down 1.8%, well off the lows seen overnight.

Watch the 29 August 2024 market update in Khmer below: