9 August, 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 9 August, 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up by 1.75 points or 0.42% to 414.90
• Total trade volume was down, with only 50,731 shares changing hands at a total value of roughly 241 million Khmer riel or around $58,800 US dollars.
• Four stocks were up on the main board. CamGSM led the market, up 0.83% or 20 riel to 2,440 riel per share. MJQ Education followed in second, up 0.49% or 10 riel to 2,050 riel per share. ACLEDA Bank and the Phnom Penh Water Supply Authority also gained 20 riel each.
• The biggest loser of the day was Royal Group Phnom Penh SEZ, down 1.69% or 40 riel to 2,320 riel per share, followed by Phnom Penh Autonomous Port, which was down 0.53% or 80 riel to 14,900 riel per share. Other stocks down were Grand Twins International and Pestech Cambodia.
• Sihanoukville Autonomous Port was the only stock on the main board to remain flat.
• Over on the growth board, DBD Engineering and JS Land both stayed flat at 2,090 riel per share and 3,470 riel per respectively.
   
• ACLEDA Bank recorded the highest trade volume of the day with 13,401 shares changing hands at a total value of 100 million riel or around $24,400 US dollars, making up around 24 per cent of the total trade volume on August 9th. CAMGSM recorded the second highest trade volume of the day with 12,080 shares changing hands at a total value of 29 million riel or $7,190 US dollars, which was approximately 22% of total shares traded on Friday.
   
• In the other market news, MJQ Education has reported an increase in its operating profit for the second quarter of 2024. The company reported that its operating profit has risen by 22 per cent to a total of 11.7 billion riel, or roughly 2.8 million US dollars, while its sale amount has also increased by 11 per cent to 44 billion riel, or 10.7 million dollars.
• The General Department of Taxation has issued a warning against a fake ‘NON RESIDENT TAX CLEARANCE CERTIFICATION’ letter written in English, which was found to be forged using the logo and stamp of the General Department of Taxation, as well as the name and Signature of Eng Ratana, Director of the Department of Taxpayer Management.
• Businesses should be aware that all administrative letters of the GDT must have a clear code and barcode that can be verified through the GDT Check & Track program. All relevant enterprises and authorities have been called on to cooperate with the GDT to investigate and take legal action against such cases of fraud.
   
• The Khmer riel to USD remained flat at 4,100 riel per US dollar, while the US dollar index was up to 103.20.
   
• Moving on to global commodities, oil prices were steady on Friday and on course for a weekly gain of more than 3% as U.S. jobs data calmed demand concerns and fears of a widening Middle East conflict persisted.
• Brent crude futures were up 1 cents to $79.17 US dollars per barrel.
• Gold prices were subdued and headed for a weekly decline, while investors awaited further cues to gauge the size of a potential U.S. interest rate cut in September.
• Spot gold was down 0.2% to $2,420.88 US dollars per ounce, after rising more than 1% on Thursday.
  Bullion was on track for its biggest weekly decline since June 7. Prices fell as much as 3% on Monday after investors liquidated positions in tandem with a broader equities selloff.
   
• A week of wild market swings has investors looking ahead to inflation data, corporate earnings and presidential polls for signals that could soothe a recent outbreak of turbulence in U.S. stocks.
• Following months of placid trading, U.S. stock volatility has surged this month as a run of alarming data coincided with the unwinding of a massive, yen-fueled carry trade to deal equities their worst selloff of the year. The S&P 500 is still down around 6% from a record high set last month, even after making up ground in a series of rallies after Monday’s crushing selloff.
  Dow, Nasdaq and S&P 500 futures are pointing higher at the market open.

Watch the 9 August, 2024 market update in Khmer below: