6 May 2024 - Market Update - B2B Cambodia

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6 May 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 6 May 2024

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

Watch the video above.

  • Starting off this week, the Cambodia Securities Exchange (CSX) Index was down by 2.49 points, or 0.61 per cent, to 408.8.
  • Trading Volume was low at 207,251 shares changing hands at a trading value of around USD $261,000, or 1.06 billion Khmer Riel
  • Like Friday last week, Grand Twins International saw the largest percent gain today, up 30 Riel per share, or 1.29 per cent to 2,350 riel per share
  • In contrast, ACLEDA Bank Plc.’s stock saw the largest percent loss, down 2.37 per cent or 180 riel per share to 7,420 riel per share. 
  • Mengly J. Quach Education Plc. was down once again, a sign of profit-taking given the recent rise in the stock, by 1.35 per cent or 30 riel per share to 2,190 riel per share
  • The Sihanoukville Autonomous Port stock also saw a slight drop by 0.16 per cent, while most other stocks saw some percentage increase, with the exception of Phnom Penh SEZ Plc. and Phnom Penh Water Supply Authority which remained the same.
     
  • In other economic news, Mekong Strategic Capital published at the end of April breaking down the latest rebased figures for Cambodia’s GDP published in the IMF’s World Economic Outlook report based on a rigorous reassessment conducted by the National Institute of Statistics. 
  • The newly rebased figures show Cambodia’s GDP is just over 35 per cent  larger than previous GDP calculations. 
  • The big difference in these calculations, according to Mekong Strategic Capital, is due to the new estimates using 2014 as the base calculation year, while previous estimates used the year 2000 as the base and the Cambodian economy certainly looked very different 23 years ago. For that reason, the previous GDP estimates did not properly reflect the major transformations the Cambodian economy would undergo.
  • What impact will this rebasing have? Well the report concludes that it will mostly be around perception, but positive impacts of a change perception include fall in high private debt to GDP ratio, even lower public debt levels, and an increase in GDP per capita by around 35 per cent putting Cambodia around 5 years closer to achieving upper-middle income status.
     
  • Moving on to the exchange rate, KHR Riel to USD rose to 4,072, with the US dollar index hovering around 105.09
  • Brent Crude Oil fell ever so slightly to 83.59 USD a barrel from last Friday, 
  • Gold rose to 2,325.6 US dollars an ounce. 
  • Dow Jones Industrial Average futures rose 30 points, or around 0.1 per cent, 
  • S&P 500 futures were 0.1 per cent higher and Nasdaq-100 futures were flat.

Watch the 6 May 2024 market update in Khmer below: