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6 August, 2024 - Market Update - B2B Cambodia

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6 August, 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 6 August, 2024

This is a B2B Cambodia Market Update for 6 August, 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

  • The Cambodia Securities Exchange Index was down by 1.29  points or 0.31% to 413.08. 
  • Total trade volume was up since last Friday – 126,545 shares changed hands at a total value of roughly 563.9 million Khmer riel or around $137,490 US dollars.
  • Four stocks were up on the main board today. Pestech Cambodia led the market, up by 1.24% or 30 riel to 2,440 riel per share, followed by Phnom Penh Autonomous Port, which was up 1.08% or 160 riel to 15,040 riel per share. Other stocks up were Grand Twins International and the Phnom Penh Water Supply Authority.
  • On the other hand, three stocks were down – CAMGSM dropped 0.83% or 20 riel to 2,400 riel per share, while MJQ Education and Royal Group Phnom Penh SEZ were down 0.49% and 0.43% respectively.
  • The Sihanoukville Autonomous Port and ACLEDA Bank, meanwhile, remained flat.Over on the growth board, JS Land was up 10% or 350 riel to 3,850 riel per share, while DBD Engineering was down 0.48% or 10 riel to 2,090 riel per share.Royal Group Phnom Penh SEZ recorded the highest trade volume of the day with 51,692 shares changing hands at a total value of 121.2 million riel or around $29,500 US dollars, accounting for 38% of total shares traded on August 6th. 
     
  • ACLEDA Bank had the second highest trade volume of the day, with 37,871 shares changing hands at a total value of 283.6 million riel or $69,000 US dollars, making up around 28% of Tuesday’s trade volume.In other market news, the Phnom Penh Autonomous Port and Sihanoukville Autonomous Port both released disclosure notices regarding a potential Change in the Securities Price or Trading Volume that would be caused by the news that these two companies are investing into the Funan Techo Canal that was officially inaugurated on Monday, August 5th. 
  • The Phnom Penh Autonomous Port announced that it would be making a 25% investment into Funan Techo Inland Waterways and Logistics Co. Limited, which will contribute to the construction of the first 21km long section of the canal, with the purpose of expanding the Phnom Penh Autonomous Port’s shipping route to domestic seaports and international destinations. The Sihanoukville Autonomous Port similarly announced it would be investing 26% into the same company for the first section of the Funan Techo Canal construction project.
  • Royal Group Phnom Penh SEZ also released a disclosure notice to announce the buyback of 5,000 shares through Auction Trading, which is 0.008% in paid-up capital.
     
  • The Khmer riel to USD weakened slightly to 4,109 riel per US dollar, while the US dollar index was slightly up to 103.08.
     
  • Oil prices pared gains in volatile trade on Tuesday as fears of an escalation in the Middle East conflict and a drop in production at Libya's largest Sharara oilfield raised the prospect of tight supplies.
  • However, buying was capped by a weak demand outlook in China, while a global market recovery from a sell-off on Monday provided support.
  • Brent crude futures were up 12 cents, or 0.16%, to $76.42 US dollars a barrel, while U.S. West Texas Intermediate crude futures were up 22 cents, or 0.3%, to $73.16 US dollars. Both contracts gained over $1 dollar a barrel earlier in the session.
  • Gold prices inched up and analysts noted that the non-yielding metal's outlook remains positive as latest commentary from U.S. Federal Reserve officials and data point towards bigger U.S. interest rate cuts.
  • Spot gold rose 0.2% at $2,412.79 US dollars per ounce. Bullion fell as much as 3% in the previous session, caught in a global sell-off driven by fears of a U.S. recession. U.S. gold futures gained 0.4% to $2,453.40 US dollars.
     
  • S&P 500 futures rose slightly on Tuesday after the broad index notched its worst day in nearly two years as global markets sold off.
  • Futures tied to the S&P 500 were over up 0.4%, along with Nasdaq 100 futures. Futures connected to the Dow Jones Industrial Average advanced 103 points, or about 0.3%. To be sure, futures were well off their session highs seen overnight.
    Helping sentiment was a rebound in Japanese stocks. The Nikkei 225 posted its best day since October 2008, soaring 10.2%. That surge comes a day after the benchmark suffered its worst day since 1987, losing 12.4%.

Watch the 6 August, 2024 market update in Khmer below: