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31 July 2024 - Market Update - B2B Cambodia

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31 July 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 31 July 2024.

This is a B2B Cambodia Market Update for 31 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 0.01 points or 0.00% to 413.90
  • Total trade volume was up with 81,131 shares changing hands at a total value of roughly 416.7 million Khmer riel or around $101,400 US dollars.
  • Three stocks were up on the main board. MJQ Education led the market, up 0.49% or 10 riel to 2,050 riel per share, followed by the Royal Group Phnom Penh SEZ, up 0.44% or 10 riel to 2,290 riel per share. Phnom Penh Autonomous Port was also up by 0.27% to 14,600 riel per share.
  • On the downside, Pestech Cambodia Plc was down 0.80% or 20 riel to 2,470 riel per share, and the Sihanoukville Autonomous Port was down 0.33% or 40 riel to 12,060 riel per share. CamGSM, Grand Twins International and Phnom Penh Water Supply Authority 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.
     
  • ACLEDA recorded the highest trade volume of the day with 39,113 shares changing hands at a total value of roughly 293 million riel or $71,300 US dollars, making up around 47% of all shares traded on July 31st. MJQ Education recorded the second highest trade volume of the day with 21,675 shares changing hands at a total value of 44.2 million riel or  $10,775  US dollars, accounting for roughly 26% of Wednesday’s trade volume.
     
  • In other business news, a delegation led by John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), visited Phnom Penh over the last two days, from July 30 to 31, to strengthen business and economies ties between Cambodia and Hong Kong.
  • Thirteen memoranda of understanding (MoUs) were signed between Cambodia and Hong Kong in diverse areas, such as trade and investment promotion, innovation and technology (I&T), transport, banking, and industrial development.
  • A special business luncheon was also organised on July 31 by the Hong Kong Economic and Trade Office in Bangkok and the Hong Kong Trade Development Council, which was attended by more than 350 business leaders and key officials.
  • It was announced that Hong Kong is now set to add more direct flights to Cambodia and open up new routes as part of the deals signed during Chief Executive John Lee's trip to Cambodia. Flag carrier Cathay Pacific Airways and Hong Kong Airlines are expected to play leading roles in these new aviation arrangements.
  • Lee, who also met with Cambodian Prime Minister Hun Manet on Wednesday morning, said both sides had discussed ways to boost tourism, but he did not reveal whether there were specific plans to relax visa requirements for Cambodian visitors to Hong Kong.
     
  • The Khmer riel to USD weakened slightly to 4,108 riel per US dollar, while the US dollar index was down  to 104.19
     
  • Oil futures rebounded more than $1 dollar a barrel from 7-week lows on Wednesday after the killing of a Hamas leader in Iran ratcheted up tensions in the Middle East, but prices remain under pressure from concerns about weak China demand.
  • Brent crude futures climbed $1 dollar and 50 cents, or 1.91%, to $80.13 US dollars a barrel ahead of expiry on Wednesday, while the more active October contract was at $79.55 US dollars, up $1 dollar and 48 cents.
  • International gold prices have risen significantly. Gold prices in Asian markets saw an increase driven by a softer dollar and ongoing geopolitical tensions.
  • Spot gold rose 0.3% to $2,419.11 US dollars per ounce, while December gold futures were up 0.5% at $2,463.85 US dollars per ounce 
  • The rise in global gold prices is attributed to safe-haven buying, especially following the reported killing of a Hamas leader, which has heightened concerns about escalating conflicts in the Middle East.
     
  • U.S. stock futures were rising Wednesday after a strong earnings report from chip maker Advanced Micro Devices lifted shares throughout the sector.
  • Futures for the Dow Jones Industrial Average added 165 points, or 0.4%. Contracts tied to the S&P 500 climbed 1%, while futures for the technology-heavy Nasdaq Composite jumped 1.6%. On Tuesday, the Nasdaq and S&P finished lower while the Dow gained 0.5%.

Watch the 31 July 2024 market update in Khmer below: