11 July 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 11 July 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was down 2.1 points or 0.51 per cent to 413.44
• Total trade volume was down to 84,211 shares changing hands at a total trade value of KHR 332.5 million, or roughly USD 80,900.
• On the main board, only two stocks were up. Grand Twins International led the market for the third session in a row, up 1.85 per cent or KHR 60 to KHR 3,310 riel per share. MJQ Education was also up 0.49 per cent or KHR 10 to KHR 2,050 per share.
• On the downside, CAMGSM saw the biggest price drop in its stock for the second day in a row, down 1.24 per cent or KHR 30 to KHR 2,390 per share. Other stocks in a downward trend were the Phnom Penh Autonomous Port and Sihanoukville Autonomous Port, which were down 0.48 per cent and 0.17 per cent respectively. Pestech Cambodia, ACLEDA Bank and Royal Group Phnom Penh SEZ remained flat.
• Meanwhile on the growth board, DBD Engineering was down 0.48 per cent or KHR 10 to KHR 2,080 per share while JS Land remained flat at KHR 3,640 per share.
   
• CAMGSM, despite seeing the largest drop in its stock price, re-took the crown from Grand Twins International as the highest traded stock of the day, with 42,720 shares changing hands at a total value of KHR 102.3 million or USD 24,900, equivalent to roughly 48.5 per cent of total shares traded on July 11. ACLEDA Bank recorded the second highest trade volume of the day, with 19,104 shares traded at a value of KHR 143.7 million or around USD 35,000, accounting for 21.7 per cent of shares traded in the market.
   
• In other business news, EuroCham Cambodia and Swisscontact released the results of its Skills Gap Assessment Survey conducted between February to April 2024, identifying critical skills gaps and training priorities in five key sectors in Cambodia – construction, electrical, manufacturing, mechanics, and tourism & hospitality.
• Some of the findings from the survey include that 62 per cent of companies in Cambodia have plans to increase their staff in 2024, yet 74 per cent face challenges in finding qualified employees. While companies identify leadership, quality control, and project management as the top training priorities in Cambodia, nearly half are unaware of the existing training options available. However, among those that did benefit from training options last year, 94 per cent reported finding them valuable.
   
• The KHR-USD strengthened slightly to KHR 4,110 per USD, while the US dollar index was down to 104.96.
   
• Oil prices gained on Thursday as crude stocks fell after U.S. refineries ramped up processing, and as gasoline inventories eased, signalling stronger demand.
• Brent futures rose 62 cents, or 0.73 per cent to USD 85.70 a barrel.
• The Organisation of the Petroleum Exporting Countries (OPEC) has also stuck to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air travel would support fuel use in the summer months.
• Gold prices meanwhile also firmed for a third consecutive session, with investors still awaiting U.S. inflation data due later in the day for further insights on the U.S. Federal Reserve’s interest rate path.
• Spot gold gained 0.5 per cent to USD 2,381.83 per ounce. U.S. gold futures rose 0.3 per cent to USD 2,385.50.
   
• U.S. stock futures were marginally lower on Thursday after both the S&P 500 and Nasdaq Composite closed at new all-time highs. Futures tied to the broad market index slipped less than 0.1 per cent, as did Nasdaq 100 futures.
• Dow Jones Industrial Average futures lost 33 points, or 0.08 per cent.

Watch the 11 July 2024 market update in Khmer below: