7 October 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 7 October 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was down 2.98 points or 0.72% to 409.30.
• Total trade volume was down from Monday, with 113,938 shares changing hands at a total value of 678 million riel or around $167,000 US dollars.
• No stocks were up on Monday both on the Main Board and Growth Board. The Main Board’s Sihanoukville Autonomous Port was the biggest loser of the day, down 3.40% or 400 riel to 11,380 riel per share, followed by the Phnom Penh Water Supply Authority, which was down 0.93% or 60 riel to 6,400 riel per share. Other stocks down were Grand Twins International, the Phnom Penh Autonomous Port, and CAMGSM.
• Meanwhile, Royal Group Phnom Penh SEZ, ACLEDA Bank, Pestech Cambodia and MJQ Education, remained flat.  
• On the growth board, DBD Engineering dropped 0.49% or 10 riel to 2,050 riel per share, while JS Land stayed flat at 3,440 riel per share.
• The Sihanoukville Autonomous Port recorded the highest trade volume of the day with 29,019 shares changing hands at a total value of around 320 million riel or around $78,950 US dollars, making up roughly 24% of total shares traded on October 7th.
   
• The Phnom Penh Water Supply Authority recorded the second highest trade volume of the day with 21,585 shares changing hands at a total value of 137 million riel or roughly $33,800 US dollars, accounting for 18% of Monday’s trade volume.
   
• In other business-related news, Cambodia has been officially chosen to host the 20th Francophonie Summit in 2026. The announcement was made during the closing ceremony of the Nineteenth Francophonie Summit, held in Paris on the evening of October 5th. Held every two years, the Francophonie Summit gathers the heads of State and Governments of all 88 members of the Organisation internationale de la Francophonie. Prime Minister Hun Manet has stated that he believes this summit will be an opportunity for Cambodia to showcase itself to other Francophone countries, which will surely include opening up new avenues for business investment.
   
• Exchange rate, the KHR to USD strengthened to 4,056 riel per USD while the USD Index was up to 102.57.
   
• The U.S. dollar edged down on Monday following a rally sparked by Friday's strong U.S. jobs data and an escalation in the Middle East conflict. The U.S. jobs report showed the biggest jump in six months in September, a drop in the unemployment rate and solid wage rises, all pointing to a resilient economy and forcing markets to reduce pricing for U.S. Federal Reserve rate cuts.
• Looking at global commodities, oil prices fell on Monday, after posting their steepest weekly rise in more than a year last week, as oversupply concerns amid softer demand countered the worries over a wider Middle East conflict disrupting exports in the key oil-producing region.
• Brent crude futures fell 28 cents, or 0.36%, to $77.77 US dollars per barrel. Brent rose by more than 8% last week, the biggest weekly gain since January 2023.
• Gold prices eased as bets firmed for a smaller U.S. rate cut in November after strong jobs data, while investors awaited inflation data and comments from U.S. Federal Reserve officials for further cues.
• Spot gold slipped 0.3% to $2,643.13 US dollars per ounce. U.S. gold futures edged 0.2% lower to $2,662.70 US dollars.
   
• As of the time of the Cambodian market’s closing, U.S. Stock Index Futures ticked lower, while benchmark 10-year Treasury yields stood at around 4%.
• Stocks broadly rose in Asia, with benchmarks in Japan and South Korea both adding more than 1.5%. Mainland Chinese markets remained closed, and are due to reopen Tuesday.

Watch the 7 October 2024 market update in Khmer below: