News

30 July 2024 - Market Update - B2B Cambodia

By
on
30 July 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 30 July 2024.

This is a B2B Cambodia Market Update for 30 July 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

  • The Cambodia Securities Exchange Index was slightly down by 0.32 points or 0.08% to 413.91
  • Total trade volume was up from yesterday but still very light, with 57,359 shares changing hands at a total value of roughly 289.5 million Khmer riel or around $70,500 US dollars.
  • Only three stocks were up on the main board. Grand Twins International led the market, up 5.85% or 210 riel to 3,800 riel per share, followed by the Phnom Water Supply Authority, up 0.29% or 20 riel to 7,000 riel per share. Sihanoukville Autonomous Port was also up 0.17% to 12,100 riel per share.
  • On the downside, the Phnom Penh Autonomous Port was the biggest loser of the day, down 2.80% or 420 riel to 14,560 riel per share, followed by MJQ Education, which was down 0.49% or 10 riel to 2,040 riel per share, and ACLEDA Bank, which was down 0.27% or 20 riel to 7,500 riel per share. Meanwhile, CAMGSM, Pestech Cambodia and Royal Group Phnom Penh SEZ remained flat.
  • Over on the growth board, once again both DBD Engineering and JS Land stayed flat at 2,090 riel per share and 3,500 riel per share respectively.
     
  • Grand Twins International recorded the highest trade volume of the day with 21,727 shares changing hands at a total value of roughly 81 million riel or $19,700 US dollars, making up around 37% of all shares traded on July 30th. ACLEDA Bank recorded the second highest trade volume of the day with 19,359 shares changing hands at a total value of 145 million riel or  $35,300 US dollars, accounting for roughly 33% of Tuesday’s trade volume.
     
  • In other market news, JS Land released a disclosure statement informing the public that the company has entered into a loan agreement with Oknha Koy Le San for a sum of 3,734,137.33 US dollars. According to the statement, the loan has already been incurred in the company’s Q3 audited report from 2023, within the category of ‘current liabilities’, which totalled over 4.5 million US dollars. The company explains that this amount was subsequently converted from being owed to the directors and other third parties into one single loan that is, for now, only owed to shareholder Oknha Ky Le San, as per the loan agreement dated August 1, 2023. 
     
  • The Khmer riel to USD weakened slightly to 4,107 riel per US dollar, while the US dollar index was slightly up to 104.57.
     
  • Shifting to global commodities, oil steadied on Tuesday near its lowest levels since early June as worries about demand in China were balanced by a government pledge of policy measures for the economy and the prospect of lower U.S. crude and product inventories.
  • A raft of disappointing economic news from China, the world's largest crude importer, has been weighing on commodity prices. China's manufacturing activity likely shrank for a third month in July, according to a poll by Reuters news agency.
  • Brent crude rose by 8 cents, or 0.1%, to $79.86 US dollars a barrel. It fell intraday to $79.34 US dollars, the lowest since June 10. U.S. crude was down 12 cents, or 0.2%, at $75.69 US dollars.
  • Gold prices held firm as investors braced for the U.S. Federal Reserve's policy meeting and U.S. data that could offer more cues on the rate-cut timeline.
  • Spot gold was up 0.2% at $2,388.65 US dollars per ounce. U.S. gold futures rose 0.3% at $2,385.30 US dollars.
     
  • The U.S. Federal Reserve is expected to hold rates steady at the end of its two-day meeting on Wednesday, but open the door to policy easing as early as September by acknowledging inflation has edged nearer to its 2% target.
  • Investors will also keep a tab on a series of employment data scheduled to be released this week, with the main focus on the nonfarm payrolls report due on Friday.
  • The S&P 500 ticked higher Monday as Wall Street geared up for a busy week of corporate earnings and looked ahead to a key policy announcement from the U.S. central bank.The broad market index gained 0.08%, closing at 5,463.54, and the Nasdaq Composite advanced 0.07% to end at 17,370.20. The Dow Jones Industrial Average lost 49.41 points, or 0.12%, and closed at 40,539.93.

Watch the 30 July 2024 market update in Khmer below: