4 June 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 4 June 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange (CSX) Index was down 0.14 points, or 0.03 per cent, to 411.52
• Total trade volume, however, was up to 200,115 shares changing hands at a total trading value of around 1.25 billion Khmer riel or over 307,451 US dollars. 
• On the Main Board, the Phnom Penh Autonomous Port (PPAP) saw the largest percentage rise, up 0.45 per cent or 40 riel to 13,300 riel per share. It was one of the only two stocks who saw a percentage rise today, the second being the Phnom Penh Water Supply Authority (PWSA), which was up  0.27 per cent or 20 riel to 7,360 riel per shares. 
• On the downside, four stocks saw percentage decreases, with the biggest loser being Royal Group Phnom Penh SEZ Plc (PPSP), down 1.30 per cent or 30 riel to 2,270 riel per share. 
• Both Grand Twins International (GTI) and Pestech Cambodia Plc. (PEPC) saw a 0.43 per cent or 10 riel drop, to respective share prices of 2,340 riel and 2,290 riel respectively.
• Other stocks on the Main Board remained flat, such as ACLEDA Bank (ABC), MJQ Education (MJQE), and CAMGSM (CGSM). 
• The Sihanoukville Autonomous Port (PAS) recorded the highest individual stock trade volume of the day with 64,098 shares changing hands, accounting for around 30 per cent of all stocks traded on June 4th. Royal Group Phnom Penh SEZ followed in second place with 56,943 shares changing hands, accounting for around 27 per cent of the day’s market activity. 
• On the growth board DBD Engineering (DBDE) was down 0.89 per cent or 20 riel to 2,220 riel per share, while JS Land (JSL) remained unchanged at a share price of 4,200 riel.
   
• In other market news, Cambodia Airways has filed and set terms with the United States Securities Exchange Commission for its intentions to list on the US NASDAQ Capital Market. According to the official SEC filing by Cambodia Airways, the company is offering 1.5 million Class A ordinary shares under the symbol CAKR at a price range of 4 to 5 US Dollars which would generate net proceeds of about $4.6 million US Dollars from initial public offering. One report suggests the airline will use the proceeds for aircraft leasing, new air routes development and working capital purposes.
• If successful, by our accounts they would be the first Cambodian company listed on the NASDAQ.
   
• The Khmer riel to USD continued to weaken to 4,099 riel per US dollar, while the US dollar index was slightly down to 104.21
• Oil prices fell more than 1 US dollar on Tuesday, extending losses from a four-month low in the previous session, as investors worried about supply rising later in the year amid signs of weakening U.S. demand. 
• Brent crude futures fell 1 dollar and 14 cents, or 1.5 per cent, to 77.22 US dollars a barrel. Brent on Monday closed below $80 dollars for the first time since Feb. 7, after falling more than 3 per cent.
• Gold prices also inched down on Tuesday after rising 1% in the previous session as investors awaited job data due later this week for clues on the U.S. Federal Reserve’s interest rate trajectory.
• Spot gold was down 0.2 per cent at $2,345.76 US dollars per ounce. Prices touched their lowest level in nearly a month on Monday before settling 
  1 per cent higher. U.S. gold futures meanwhile fell 0.1 per cent to $2,366.00 US dollars.
• Over in India, stocks slid and the Indian rupee weakened after early election results indicated Prime Minister Narendra Modi’s party could lose its outright majority.
• Meanwhile in the US, stock futures were little changed as Wall Street looked to find its footing after an uneven start to the month.
• Futures for the Dow Jones Industrial Average were roughly flat, while the S&P 500 futures and Nasdaq 100 futures ticked down less than 0.1 per cent each.

Watch the 4 June 2024 market update in Khmer below: