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B2B Asia News
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This is a B2B Cambodia Market Update for 3 December 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange Index was up 0.49 points, or 0.12%, to 402.05.
- Total trade volume was up, with 159,758 shares changing hands at a total value of 884.9 million riel or approximately $219,000 US dollars.
- On the main board, three stocks were up. Pestech Cambodia led the market, up 0.83% or 20 riel to 2,420 riel per share, followed by the Sihanoukville Autonomous Port, which was up 0.53% or 60 riel to 11,360 riel per share. CAMGSM was also up 0.41% or 10 riel to 2,440 riel per share.
- On the downside, the Phnom Penh Water Supply Authority was the biggest loser of the day, dropping 0.96% or 60 riel to 6,160 riel per share, followed the Phnom Penh Autonomous Port, down 0.88% or 120 riel to 13,440 riel per share.
- Other stocks down were Grand Twins International, Royal Group Phnom Penh SEZ, and MJQ Education.
- Meanwhile, ACLEDA Bank remained flat at 6,920 riel per share.
- Over on the growth board, both stocks were down. DBD Engineering decreased 0.49% or 10 riel to 2,020 riel per share, and JS Land was down 0.86% or 30 riel 3,450 riel per share.
- ACLEDA Bank recorded the highest trade volume of the day, with 99,867 shares changing hands at a total value of 688.8 million riel or $170,000 US dollars, making up roughly 62% of total shares traded on December 3rd.
- Royal Group Phnom Penh SEZ recorded the second highest trade volume of the day with 33,271 shares changing hands at a total value of 77 million riel or $19,200 US dollars, making up around 21% of Tuesday’s trade volume.
- In other market news, bond issuer RMA (Cambodia) Plc has reported a decline in earnings for the third fiscal quarter of 2024, as the slow pace of vehicle sales persists. However, new car sales have increased slightly in the first nine months of 2024.
- RMA's net profit fell 7.2% to nearly $3 million US dollars in the quarter ending September 30th, down from $3.2 million US dollars earned in the same period in 2023. The company’s revenue dipped marginally to $88.4 million US dollars from $88.7 million US dollars earned last year.
- Exchange rate, the KHR to USD weakened slightly to 4,032 riel per USD, while the USD index was slightly down to 106.18.
- Looking at global commodities, oil prices nudged higher on Tuesday but remained within a narrow trading range, as traders awaited the outcome of an OPEC+ meeting later this week.
- Brent crude futures rose 31 cents, or 0.4%, to $72.14 US dollars a barrel, after dropping 1 cent in the previous session.
- OPEC+ is likely at its meeting on Thursday to extend its latest round of oil output cuts until the end of the first quarter, according to Reuters. This is to provide additional support for the oil market. OPEC+, which pumps about half the world's oil, has been gradually aiming to unwind output cuts through 2025. However, a slowdown in global demand and rising output outside the group pose hurdles to that plan and have weighed on prices.
- Gold prices edged higher supported by U.S. rate cut bets and geopolitical concerns, while the focus shifted to economic data due this week for clues into the U.S. Federal Reserve's interest rate path.
- Spot gold was up 0.1% at $2,640.65 US dollars per ounce, after falling by as much as 1% on Monday.
- U.S. gold futures were 0.2% higher at $2,663.40 US dollars.
- U.S. stock futures were muted early Tuesday following record highs in the previous session.
- As of the time of the Cambodian market’s closing, Dow Jones Industrial Average futures were down less than 0.1%.
- S&P 500 futures were rising 0.1% and Nasdaq 100 futures were broadly flat.
- The S&P and Nasdaq Composite hit new highs on the first trading day of December but will be tested this week by a series of economic data releases, culminating in the U.S. jobs report on Friday.
Watch the 3 December 2024 market update in Khmer below: