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11 June 2024 - Market Update - B2B Cambodia

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11 June 2024 - Market Update - B2B Cambodia
B2B Cambodia Market Update - 11 June 2024

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

Watch the video in English above.

  • The Cambodia Securities Exchange (CSX) Index managed to close slightly up today by just 0.01 points to 409.07.
  • Total trade volume was light but higher than yesterday, with 107,809 shares changing hands at a total trade value of 523.3 million Khmer riel, or roughly 126,500 US dollars.
  • On the Main Board, only two shares were up – ACLEDA Bank, which was up 0.27 per cent or 20 riel to 7,520 riel per share, and the Sihanoukville Autonomous Port, up 0.16% or 20 riel to 12,300 riel per share.
  • With the exception of MJQ Education and CAMGSM which remained flat, the rest of the main board was down. 
  • The biggest percentage loser of the day was Pestech Cambodia, down 1.79 per cent or 40 riel to 2,190 riel per share, 
  • Followed by Royal Group Phnom Penh SEZ, which was down 0.89 per cent or 20 riel to 2,220 riel per share.
  • On the growth board DBD Engineering had a great day, up 2.68 per cent or 60 riel to 2,300 riel per share, while JS Land remained flat.
  • DBD Engineering (DBDE) was also the market leader in terms of trade volume, with 181,090 shares traded at a total value of 415.2 million riel, or roughly 100,800 US dollars, accounting for 99 per cent of shares traded on the growth board, and around 62 per cent of all shares traded on the main board and growth board combined. 
  • ACLEDA, meanwhile, maintained its lead on the main board, with 41,785 shares changing hands at a total value of 76,000 US dollars, which made up close to 39 per cent of the main board’s market activity on June 11th. 
     
  • The spike in market activity around DBD Engineering can be attributed to the results of the company’s third annual general shareholders’ meeting, which included the announcement of the distribution of dividends for the 2023 fiscal year to Class "A" public shareholders and Class “B" founder shareholders.
  • According to the company’s disclosure report, a total dividend amount of 1.36 billion Khmer riel or over 330,000 US dollars, will be distributed, with over 1 billion riel allocated for Class A shareholders, and 285.6 million riel allocated for Class B shareholders.
  • The dividend payout ratio decided for Class A public shareholders is 27.75 per cent, equal to 166.6 riel per share, while the payout ratio for Class B founder shareholders is 7.36 per cent, equal to 23.8 riel per share.
     
  • The Khmer riel to USD continued to weaken to 4,116 riel per US dollar, while the US dollar index is slightly down to 105.25
  • Oil prices settled slightly higher on Tuesday as the U.S. Energy Information Administration raised its global oil demand growth forecast for the year, while OPEC stuck to its forecast for relatively strong growth in 2024.
  • Brent crude futures rose 29 cents, or 0.4 per cent, to 81.92 US dollars a barrel, continuing a sharp recovery as fears of oversupply have ebbed since Brent closed at 77.52 dollars a week earlier, its lowest since February.
  • Singapore is set to become a leading gold hub as trading shifts east, according to the World Gold Council. Experts say one key reason is that gold consumption in major emerging economies is rising, and a majority of these markets are concentrated in Asia. 
  • Spot gold is trading a little over $2,300 US dollars per ounce, up about 12 per cent year-to-date and only about 6 per cent shy of the record high it hit last month. Lower confidence in other investment options, such as real estate and equities, is also a factor behind the demand for gold, analysts say.
  • Apple’s shares surged over 7 per cent to a record high on Tuesday, nearly regaining its crown as the world's most valuable company from Microsoft, a day after the company unveiled new AI features meant to rekindle demand for iPhones.
  • The S&P 500 rose 14.53 points, or 0.3 per cent, to 5,375.32, The Dow Jones Industrial Average fell 120.62 points, or 0.3 per cent, to 38,747.42, the Nasdaq composite rose 151.02 points, or 0.9 per cent, to 17,343.55.

Watch the 11 June 2024 market update in Khmer below: