30 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 0.04 points or 0.01% to 411.03.
• Total trade volume was up from last Friday but still light, with 67,643 shares changing hands at a total value of 291 million riel or around $71,800 US dollars.
• Two stocks were up on the main board, with the Sihanoukville Autonomous Port leading the market, up 1.19% or 140 riel to 11,880 riel per share. The other stock up was Grand Twins International, which rose 0.50% or 20 riel to 4,060 riel per share.
• On the other hand, three stocks were down. The Phnom Penh Autonomous Port was the biggest loser of the day, down 2.65% or 360 riel to 13,200 riel per share, followed by the Phnom Penh Water Supply Authority, which was down 0.61% or 40 riel to 6,500 riel per share. Royal Group Phnom Penh SEZ was also down 0.45%.
• Meanwhile, four stocks – ACLEDA Bank, Pestech Cambodia, MJQ Education and CAMGSM – remained flat.
• Over on the growth board, both DBD Engineering and JS Land stayed flat as well.
• MJQ Education, recorded the highest trade volume of the day with 19,904 shares changing hands at a total value of 40.3 million riel or over $9,950 US dollars, making up roughly 27% of total shares traded on September 30th.
   
• ACLEDA Bank recorded the second highest trade volume of the day with 16,888 shares changing hands at a total value of 126.3 million riel or roughly $31,100 US dollars, accounting for 23% of Monday’s trade volume.
   
• In other market news, the Cambodia Securities Exchange announced the 26th Profile Listing of a Government Bond issued by the Ministry of Economy and Finance at a coupon rate of 4.5% per annum and a maturity date of 3 years.
• Pestech Cambodia released a disclosure report on its audited financial statement for the first half of 2024 ending on June 30th, announcing a decrease in revenue by 46.6%, a decrease in operating profit by 394.9%, and a decrease in net profit by 231.8%, all compared to the same period in 2023.
• Decrease in revenue and net profit was attributed to the annulment of a project contract during the financial year, which caused a one-off impairment of contract assets and other adjustments needed as a result.
• The Phnom Penh Water Supply Authority also released a disclosure report on its Q2 financial statement for 2024, which detailed a quarter on quarter revenue decrease of 6.99%, operating profit decrease of 33.22%, and Net Profit decrease of 81.67%. The company attributes the decrease in Revenue, Operating Profit, and Net Profit to an increase in the Non-revenue water (NRW) rate to 27.13%, which was caused by a number of factors including certain mechanical adjustments needed to be made to the water pressure at the Bakheng Water Treatment plan to prevent leakage.
   
• Exchange rate, the KHR to USD stayed flat at 4,061 riel per USD while the USD Index was slightly down to 100.34.
   
• Looking at global commodities, Oil prices were steady on Monday and on track to fall for the third month in a row as a strong supply outlook and questions around demand outweighed fears that Israeli strikes in Lebanon and Yemen could escalate conflict in the Middle East.
• Brent crude futures for November delivery, expiring on Monday, lost 10 cents to $71.88 US dollars a barrel.
• Gold prices hovered just below last week's record high, with bullion set for its best quarter in more than eight years after this month's U.S. interest rate cut and expectations of another jumbo reduction in November.
• Spot gold fell 0.2% to $2,653.00 US dollars per ounce, as traders locked in profits following last week's rally. U.S. gold futures rose 0.2% to $2,674.40 US dollars.
   
• U.S. stock futures were flat to kick off the final trading session of September after the major averages rose to their third consecutive week of gains.
• As of the time of the Cambodian market’s closing, futures tied to the Dow Jones Industrial Average traded near the flatline. S&P 500 futures were flat, and Nasdaq 100 futures inched down 0.14%.