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B2B Cambodia
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This is a B2B Cambodia Market Update for 1 July 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video in English above.
- The Cambodia Securities Exchange (CSX) Index was down today – the index fell 1 point or 0.24 per cent to 413.14 points.
- Total trade volume was down and extremely light, with only 50,977 shares changing hands at a total trade value of 259 million Khmer riel, or roughly $63,000 US dollars.
- On the main board, only two stocks were up – Phnom Penh Autonomous Port was up 0.94 per cent or 120 riel to 12,900 riel per share, while Royal Group Phnom Penh SEZ was up 0.45 per cent or 10 riel to 2,220 riel per share.
- On the downside, we saw CAMGSM down 0.41 per cent or 10 riel to 2,440 riel per share, and ACLEDA Bank and Sihanoukville Autonomous Port both down 20 riel each, or 0.26 per cent and 0.16 per cent respectively.
- Four of the remaining stocks on the main board stayed flat, these were Pestech Cambodia, MJQ Education, the Phnom Penh Water Supply Authority and Grand Twins International.
- On the growth board, we saw both companies drop in price – JS Land was down 0.82 per cent or 30 riel to 3,620 riel per share, while DBDE Engineering was down 0.48 per cent or 10 riel to 2,070 riel per share.
- The trade volume leader of the day was ACLEDA Bank with 13,525 shares changing hands at a total value of 102.5 million riel or roughly $24,950 US dollars, accounting for around 26 per cent of all shares traded on July 1st.
- CAMGSM came in second, accounting for 22 per cent of all trades on the main and growth boards combined, with 11,479 shares traded at a value of 28 million riel or around $6,820 US dollars.
- In other market news, MJQ Education successfully secured a $2 million loan from ABA Bank, with a 7-year Term of Borrowing from 2024 to 2031, and an 8 per cent per annum interest rate.The company states that this long-term loan underpin its strategic growth strategy and helps to expand the spectrum of its debt financing sources, in alignment with its overarching business plan.
- As we previously reported, the Royal Group Phnom Penh SEZ announced the issuance of its 41 billion Khmer riel or roughly $9.97 million US dollar corporate green bond, holding the official listing ceremony last Friday, June 28th, at the Cambodia Securities Exchange building. Just as a reminder, the bond has a five-year maturity and a coupon rate of SOFR + 1.5 per cent per annum. The bond will be partially redeemable before the maturity date and semi-annually paid every December and June, with the redemption period starting from the second year after the issuing year, that is from December 2026 until the fifth year.
- The Khmer riel to USD weakened slightly to 4,110 riel per US dollar, while the US dollar index was slightly down to 105.52
- Oil prices climbed on Monday, supported by forecasts of a supply deficit stemming from peak summer fuel consumption and OPEC+ cuts in the third quarter, although global economic headwinds and rising non-OPEC+ output capped gains. Brent crude futures rose 53 cents, or 0.6 per cent, to $85.53 US dollars a barrel.
- Gold prices held steady after data showed U.S. inflation subsided in May, bolstering hopes that the Federal Reserve will start cutting interest rates this year.
- Spot gold was nearly unchanged at $2,325.49 US dollars per ounce. Prices registered a more than 4 per cent gain in the second quarter.
- U.S. gold futures eased 0.2 per cent to $2,334.80 US dollars.
- Stock futures rose on Monday morning as Wall Street looked ahead to the second half of 2024. Futures tied to the Dow Jones Industrial Average added 63 points, or 0.12 per cent, while S&P 500 futures gained 0.08% and Nasdaq-100 futures edged up 0.02 per cent.
Watch the 1 July 2024 market update in Khmer below: