By
B2B Asia News
on
This is a B2B Cambodia Market Update for 31 May 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange (CSX) Index was down 0.80 points, or 0.19 per cent, to 415.01
- Total trade volume was also light, with only 160,550 shares changing hands at a total trading value of around 700.5 million Khmer riel or over $171,600 US dollars.
- On the Main Board, only two stocks saw a percentage rise – the Sihanoukville Autonomous Port, which was up 0.32 per cent or 40 riel to 12,540 riel per share, and the Phnom Penh Water Supply Authority which was up 0.27 per cent or 20 riel to 7,340 riel per share.
- Four stocks on the Main Board saw a percentage loss, with the Phnom Penh Special Economic Zone being the biggest loser, down 2.08 per cent or 50 riel to 2,350 riel per share.
- Even so, the Phnom Penh Special Economic Zone recorded the highest trade volume of the day, making up about 34 per cent of market trades, followed by the usual trade volume leader,
- ACLEDA Bank, which made up around 30 per cent of all trades on May 31st.
- On the growth board, DBD Engineering was up 1.36 per cent or 30 riel to 2,230 riel per share, while JS Land was down 1.86 per cent or 80 riel to 4,220 riel per share.
- In other business news, The Cambodian Ministry of Commerce and the Embassy of Pakistan have signed a Memorandum of Understanding to establish a Joint Trade Committee between the two countries, which is expected to serve as a mechanism that allows both sides to explore ways to create favourable conditions for businesses and investors, expanding production bases, and fostering bilateral trade. According to the COMTRADE database Cambodia's exports to Pakistan were $5.98 million US dollars in 2022.
- Cambodia and Turkey have reportedly also agreed to increase bilateral trade between the two countries to $1 billion US dollars a year. This commitment was made during the Cambodian Foreign Minister’s 3-day visit to Turkey. The two countries have also agreed on establishing a direct flight route between Phnom Penh and Istanbul.
- The Khmer riel to USD continued to weaken to 4,090 riel per US dollar, while the US dollar index was slightly up to 104.69.
- Oil prices held steady on Friday, with Brent futures up 14 cents, or 0.17 per cent, at 82 US dollars a barrel.
- Gold prices were flat on Friday as investors awaited a crucial inflation report that is expected to significantly influence outlook on U.S. interest rates. Spot gold was unchanged at $2,343.02 US dollars per ounce. U.S. gold futures were flat at $2,340.30 US dollars.
- U.S. stock futures also ticked lower Friday as investors reviewed a flurry of corporate earnings ahead of the same key inflation report.
- The Dow Jones Industrial Average futures fell by 25 points, or 0.1 per cent, while S&P 500 futures and Nasdaq 100 futures dipped 0.2 per cent and 0.3 per cent, respectively.
Watch the 31 May 2024 market update in Khmer below: