27 June 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 27 June 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange Index was up today by 1.21 points or 0.29 per cent to 412.24.
• Total trade volume was very, very light, at 86,781 shares changing hands at a total trade value of 385 million Khmer riel, or roughly $93,700 US dollars.
• On the main board, five stocks were up with Pestech Cambodia leading the market – up 2.79 per cent or 60 riel to 2,210 riel per share. The Phnom Penh Autonomous Port followed in second, up 1.10% or 140 riel to 12,840 riel per share. Other stocks up were Grand Twins International, CAMGSM and ACLEDA Bank.
• Only two stocks were down – Royal Group Phnom Penh SEZ was the biggest loser of the day, down 1.36 per cent or 30 riel to 2,180 riel per share. The other stock down was the Phnom Penh Water Supply Authority, which was down 0.29 per cent or 20 riel to 6,940 riel per share. The remaining two stocks on the main board, Sihanoukville Autonomous Port and MJQ Education, remained flat.
• Meanwhile on the growth board, JS Land was up by 2.05 per cent to 3,480 riel per share, while DBD Engineering stayed flat.
• Trade volume leader of the day was CAMGSM with 29,716 shares changing hands at a total value of 72.1 million riel or roughly $17,560 US dollars, accounting for around 33 per cent of all shares traded on June 27th. ACLEDA Bank once again followed in second in terms of trade volume, with 23,925 shares traded, however, still recorded the highest trade value of the day, which was around 181.1 Khmer riel or $44,000 US dollars.
   
• In other business news, Singaporean-listed company, Silverlake Axis Limited, a fintech and digital banking solutions provider, has formed a strategic partnership with Chip Mong Group, one of the leading Cambodian conglomerates with assets across various sectors in the Kingdom. 
• This marks the entrance of  Silverlake Axis into the Cambodian market, as the company expands its presence across Southeast Asia beyond traditional banking technology. The company works in technology, software and financial services and serves 40 per cent of the top 20 largest banks in Southeast East Asia. 
• Under its strategic partnership agreement with Chip Mong Group, Silverlake Axis will deploy its QR AgoraCloud digital solution across nine general merchandise stores and two express stores which fall under Chip Mong Retail, with the aim of streamlining operations, enhancing efficiency through automation, and elevating the digital ecosystem in Cambodia.
   
• The Khmer riel to USD strengthened slightly to 4,110 riel per US dollar, while the US dollar index was slightly down to 105.90
• Oil prices were largely steady on Thursday as a surprise build in U.S. stockpiles fuelled fears about slow demand from the world's top oil consumer and countered supply concerns stoked by escalating conflict in the Middle East. Brent crude oil futures were up 43 cents, or 0.5 per cent, at $85.68 US dollars a barrel.
• Gold prices inched higher, with the market spotlight on key U.S. inflation data that could offer cues on the U.S. Federal Reserve's next interest rate move.
• Spot gold was up 0.3 per cent at $2,303.80 US dollars per ounce, after falling to its lowest level since June 10th. U.S. gold futures edged 0.1 per cent higher to $2,314.40 US dollars.
• Shares fell Thursday in most Asian markets ahead of a key U.S. inflation report due Friday that might point the way ahead for interest rates.
• Benchmarks dipped more than 1 per cent in Tokyo, Hong Kong and Sydney.
• U.S. S&P 500 futures fell in the morning after the S&P 500 rose for a second day. S&P 500 futures and Nasdaq 100 futures dipped 0.22 per cent and 0.28 per cent, respectively. Dow Jones Industrial Average futures fell 72 points, or 0.18 per cent.

Watch the 27 June 2024 market update in Khmer below: