4 September 2024 - Market Update - B2B Cambodia

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

Watch the video in English above.

• The Cambodia Securities Exchange Index was up 1.01 points or 0.25% to 412.48.
• Total trade volume was down to 110,024 shares changing hands at a total value of 594 million riel or $145,000 US dollars.
• On the mainboard, five stocks were up. Royal Group Phnom Penh SEZ led the market, up 1.36% or 30 riel to 2,240 riel per share, followed by Phnom Penh Autonomous Port, which was up 1.05 % or 140 riel to 13,500 riel per share. Other stocks up were the Sihanoukville Autonomous Port, Grand Twins International and CAMGSM.
• The rest of the mainboard remained flat, including Phnom Penh Water Supply Authority, MJQ Education, Pestech Cambodia and ACLEDA Bank.
• Over on the growth board, DBD Engineering was down 0.48% or 10 riel to 2,080 riel per share, while JS Land remained flat at 3,470 riel per share.
   
• ACLEDA Bank once again recorded the highest trade volume of the day with 52,850 shares changing hands at a total value of 396 million riel or $97,000 US dollars, making up approximately 45% of September 4th’s trade volume. Grand Twins International recorded the second highest trade volume of the day, with 29,839 shares traded at a total value of 113 million riel or $27,800 US Dollars, accounting for 25% of Wednesday’s trade volume.
   
• Exchange rate, the Khmer riel to USD weakened to 4,073 riel per US dollar, while the US dollar index was down to 101.64.
   
• Looking at global commodities, oil prices fell on Wednesday, extending a plunge of more than 4% the previous day and hovering at their lowest since December, on expectations that a political dispute halting Libyan exports could be resolved and concerns over sluggish global demand.
• Brent crude futures for November fell 43 cents, or 0.6%, to $73.32 US dollars, after the previous session's fall of 4.9%.
  Gold prices held steady as investors braced for a monthly U.S. payrolls report that could influence how swiftly and deeply the U.S. Federal Reserve cuts interest rates this year.
  Spot gold held its ground at $2,491.01 US dollars per ounce. U.S. gold futures steadied at $2,522.20 US dollars.
   
• Shares across the world also fell, pummelled by a drop in tech stocks after a record sell-off for U.S. chipmaker Nvidia, and as expectations of fading global growth hit riskier assets, pushing oil prices to multi-month lows.
• The pain was set to continue on Wall Street, where stock futures extended declines. S&P 500 futures eased 0.4% and Nasdaq futures shed 0.6%.
• The three main indexes in the U.S. had their worst day in more than a month on Tuesday, dragged down by weak ISM manufacturing data, which reignited fears that the U.S. economy could be headed for a recession.
• AI bellwether Nvidia led the way, tumbling 9.5% amid worries that the ChatGPT-fueled investing frenzy that’s powered chip stocks higher over the past two years might soon fizzle out.

Watch the 4 September 2024 market update in Khmer below: