30 August 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 30 August 2024,

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.22 points or 0.05% to 411.21.
• Total trade volume was down and extremely light. Only 24,348 shares changed hands at a total value of 153 million riel or $37,600 US Dollars.
• Market activity on the main board was thus, predictably low, with only two stocks up and one stock down, while the rest of the board remained flat.
• The Phnom Penh Autonomous Port was up 0.49% or 200 riel to 13,600 riel per share, while the Phnom Penh Water Supply Authority was up 0.59% or 40 riel to 6,860 riel per share. The one stock down was the Sihanoukville Autonomous Port, which dropped 0.17% or 20 riel to 11,900 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 up 1.48% or 50 riel to 3,430 riel per share.
   
• ACLEDA Bank still recorded the highest trade volume of the day with 15,672 shares changing hands at a total value of 116.9 million riel or $28,700 US dollars, making up approximately 58.7% of August 30th’s trade volume. Grand Twins International followed in a distant second, recording only 2,981 shares traded at a total value of 10.7 million riel or $2,637 US Dollars, accounting for 11% of Friday’s trade volume.
   
• In other market news, Royal Group Phnom Penh SEZ released a disclosure notice announcing the final result of the company’s share Buyback through Auction Trading conducted from June 1st to August 30th, 2024.
• A total number of 355,353 shares were bought back by the company, which is 0.566% in paid-up capital, with the highest share price encountered being 2,360 riel, and the lowest being 2,220 Riel. Overall, the total number of shares purchased amounted to over 813.8 million Riel, which is a little over 200,000 US dollars.
• The Securities and Exchange Regulator of Cambodia also signed a memorandum of understanding with the Credit Guarantee Corporation of Cambodia, known as the CGCC, for a collaboration on promoting the development and issuance of guaranteed bonds, as well as the benefits and opportunities of issuing guaranteed bonds in Cambodia. At the signing ceremony event held on August 30, once the official signing had concluded, two presentations were delivered on corporate bonds, followed by a concluding panel discussion featuring representatives from the SERC, the CGCC, Telcotech Ltd., Royal Group Securities and Prudential Life Assurance Plc.
   
• Exchange rate, the Khmer riel to USD strengthened to 4,057 riel per US dollar, while the US dollar index was up to 101.35.
   
• Looking at global commodities, oil prices edged higher on Friday on track for a weekly gain as Libyan output disruptions and Iraqi plans to curb production raised supply concerns, while data showing the U.S. economy grew faster than initial estimates eased recession fears.
• Brent crude futures for October delivery, which expired on Friday, were up 46 cents, or 0.58%, at $80.40 US dollars a barrel. The more actively traded contract for November rose 42 cents, or 0.53%, to $79.24 US dollars.
• Gold prices lingered near all-time high levels and were set for a monthly gain, driven by U.S. rate-cut bets and geopolitical uncertainty, while focus shifted to a key inflation report.
• Spot gold was up 0.1% at $2,523.59 US dollars per ounce, just shy of the record high of $2,531.60 US dollars hit on Aug. 20. The bullion has gained more than 3% for the month.
• U.S. gold futures edged 0.1% lower to $2,556.70 US dollars.
   
• As of the time of the Cambodian market’s closing, U.S. stock futures were rising in premarket trading Friday as markets chased a fourth straight month of gains.
• The latest source of optimism was another strong batch of economic data that signalled there’s still no need to worry about a U.S. recession after GDP was revised up for the second quarter and jobless claims came in below Wall Street's forecasts.
• Futures linked to the broad market index ticked up by 0.24%, while Nasdaq 100 futures added 0.43%. Dow Jones Industrial Average futures were little changed.

Watch the 30 August 2024 market update in Khmer below: