By
B2B Cambodia
on
This is a B2B Cambodia Market Update for 7 May 2024, reviewing the Cambodia Securities Exchange (CSX) and global markets.
Watch the video above.
- The Cambodia Securities Exchange (CSX) Index was down again by 1.17 points, or 0.29 per cent, to 407.63.
- Trading Volume dropped even lower than yesterday with 143,459 shares changing hands at a trading value of around USD $176,000, or 716.5 million Khmer Riel.
- The Phnom Penh Water Supply Authority’s stock was today’s percent gain winner, up 20 Riel per share, or 0.28 per cent to 7,100 riel per share.
- Another stock to see some rise was the Phnom Penh Autonomous Port, which was also up by 20 Riel per share, or 0.15 per cent to 13,200 Riel.
- Across the board, all other stocks saw some loss or stayed flat.
- The largest percent loss was seen by MJQ Education Plc., which was down again by 1.37 per cent or 30 riel per share to 2,160 riel per share.
- In other financial news, Taiwan-based Bank SinoPac, a subsidiary of SinoPac Holdings, is set to acquire 100 percent equity of Amret Plc, one of the largest microfinance institutions in Cambodia, for more than half a billion dollars.
- This announcement was made in a press release by SinoPac, stating that the board of directors of SinoPac Holdings has approved the decision to acquire Amret Plc in three tranches with the final buyout due to be completed within three years of the deal's approval.
- In the first tranche, SinoPac will acquire 80 percent of Amret's equity for approximately USD $435 million , followed by two additional tranches of 10 percent each, at the end of the first and second years, respectively.
- In the exchange rate, KHR Riel to USD weakened slightly again to 4,074, with the US dollar index hovering around 105.2
- Brent Crude Oil saw a slight increase to USD $83.6 a barrel,
- Gold saw a small drop to USD $2,323 an ounce.
- Dow futures were up 13 points, or 0.03 per cent ,
- S&P 500 futures ticked up by 0.01 per cent,
- Nasdaq 100 futures slipped 0.06 per cent.
Watch the 7 May 2024 market update in Khmer below: