28 June 2024 - Market Update - B2B Cambodia

This is a B2B Cambodia Market Update for 28 June 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.

Watch the video in English above.

• The Cambodia Securities Exchange (CSX) Index was up again for its fourth straight day. Today the index was up by 1.90 points or 0.46 per cent to 414.14.
• Total trade volume was still light but up from yesterday to 92,498 shares changing hands at a total trade value of 577.3 million Khmer riel, or roughly $140,600 US dollars.
• On the main board, five stocks were up with Royal Group Phnom Penh SEZ leading the market – up 1.38 per cent or 30 riel to 2,210 riel per share.
• CAMGSM followed in second, up 0.82 per cent or 20 riel to 2,450 riel per share. 
• Other stocks up were the Phnom Penh Water Supply Authority, Pestech Cambodia, and ACLEDA Bank.
• Meanwhile, three stocks were down – the Phnom Penh Autonomous Port was down 0.47 per cent or 60 riel to 12,780 riel per share, while the Sihanoukville Autonomous Port and Grand Twins International were also down. 
• The only stock on the main board that remained flat was MJQ Education.
• Over on the growth board, JS Land was up by 4.89 per cent to 3,650 riel per share, while DBD Engineering was up 0.48 per cent or 10 riel to 2,080 riel per share.
• The trade volume leader of the day was ACLEDA Bank with 51,323 shares changing hands at a total value of 388.8 million riel or roughly $94,599 US dollars, accounting for around 35 per cent of all shares traded on June 27th. JS Land on the growth board came in close second, accounting for 34.9 per cent of all trades on the main and growth boards combined, with 50,812 shares traded at a value of 159.9 million riel or around $38,900 US dollars.
   
• In other market news, Royal Railway Plc announced the interest payment for its guaranteed bonds in June 2024, with a 5 per cent Coupon Rate per annum. The total interest payment for Royal Railway’s 984,000 bonds is over $1 million US dollars, and the company announced that the payment was made to all investors on June 24th.
• The Phnom Penh Water Supply Authority also announced the construction of the third phase of the Bakheng Water Production Facility, which will add a production capacity of 195,000 cubic metres of water per day. On June 25th, Phase 2 of the water production facility was officially inaugurated along with the ground breaking of Phase 3. Once all three phases of the new water facility are completed, it is expected that it will have the capacity to produce 580,000 cubic metres of clean water per day. All three phases of the water facility are constructed by French company, VINCI Construction Grand Projects, with supervision from the Phnom Penh Water Supply Authority and technical assistance from SAFEGE Consulting Engineers. The construction contract of the third phase is roughly $103 million US dollars, financed through a subsidiary loan from the Ministry of Economy and Finance and the French Development Agency.
• CAMGSM meanwhile also issued a disclosure notice on the results of the company’s Annual General Meeting of shareholders held online on June 28th. A total of 32 shareholders attended the meeting, representing over 1.9 billion shares, which accounts for 99.53 per cent percent of total voting shareholders. The company announced that shareholders approved a number of key decisions, including the distribution of a Guaranteed Minimum Dividend until the next General Meeting of the Shareholders, without yet announcing the exact amount, and the issuance of additional equity securities on the Stock Exchange of Thailand.
   
• The Khmer riel to USD strengthened slightly to 4,108 riel per US dollar, while the US dollar index was slightly up to 105.99
• Oil prices rose on Friday and were on course for a third straight weekly jump buoyed by growing expectations that the U.S. Federal Reserve will soon start cutting interest rates and U.S. inflation data due later in the day.
• Brent crude futures for August settlement, which expire on Friday, were up 54 cents, or 0.63 per cent to $86.93 US dollars a barrel. The more liquid September Brent contract was up 0.7 per cent at $85.87 US dollars a barrel.
• Gold prices were little changed but were poised for a third straight quarterly rise, while investors waited for U.S. inflation data for fresh clues on the Federal Reserve's interest rate stance.
• Spot golds nearly unchanged to $2,328.42 US dollars per ounce. Prices have gained about 4 per cent for the quarter. U.S. gold futures edged 0.1 per cent higher at $2,338.80 US dollars.
• U.S. stock futures were mostly higher on Friday as the market neared the end of the first half of the year. 
• Futures for the Dow Jones Industrial Average were up 38 points, or 0.1 per cent, after the index eked out a 36-point gain on Thursday to finish at 39,164. 
• S&P 500 futures advanced 0.3 per cent with contracts tracking the tech-heavy Nasdaq Composite up 0.4 per cent. The yield on the benchmark 10-year U.S. Treasury note hovered above 4.3 per cent.

Watch the 28 June 2024 market update in Khmer below: