Cambodia gets third prize in stock trading

UY Sovanlongdy / Khmer Times No Comments Share:
Two Cambodian students took home the third prize. Supplied

Cambodian students proved yet again their talent and aptness over other Asean countries as they took home the third prize at the CIMB Asean Stock Challenges 2.0.

A two-member team composed of Soush Monyodham and Heng Molika came in third after the representatives of Indonesia and Singapore. The three countries bested other three Asean members in the real-time stock trading competition across five major stock exchanges- Bursa Malaysia, Indonesia Stock Exchange, Singapore Exchange, The Stock Exchange of Thailand and The Hong Kong Stock Exchange.

Divided into two phases, the CIMB Asean Stock Challenges 2.0 required all teams in each participating country to compete on a virtual trading platform to make the most profits. Three teams were selected to submit their strategy papers which were then evaluated. The best teams represented their countries in the regional level.

Monyodham and Molika, both pursuing Major of Law at the University of Cambodia, shared a common vision and passion to show off their tactics and strategies to beat the other regional finalists despite limited resources and knowledge on stock market.

Mr Monyodham, 22, shared that he initially didn’t think they can win during the national level as there were around 250 teams in Cambodia. He added that during the three-week national competition, his team did not even appear in the top 20 list.

“To do trading, we have to ponder on which country has potential on stock market, and narrow down to which industry and company are growing. Within a short time, small and medium companies have more potential than the large corporates as their profits could rise or fall swiftly,” he shared.

To take up the new challenge, he researched intensively to broaden his understanding on stock market and to analyse logically and technically regardless of the insufficient resources in the country and his lack of knowledge about the programme. Time constraints also added to the pressure, according to Mr Monyodham.

Despite the setbacks, the team proved that the key to a successful team competition is having a partner who has the same goal and as committed as you are. Mr Monyodham and Ms Molika surpassed all the struggles of having limited resources by asking advice from experienced people and by searching on YouTube and Google for professional lectures on trading.

Ms Molika, 22, said that in picking up the stock market, they needed two levels of analysis – fundamental analysis and technical analysis. For fundamental analysis, the team read news stories about the socio-economic factors of trading such as disasters and terrorism. Technical analysis, meanwhile, was more on data statistics.

In the regional level, all teams were made to present their strategies to a panel of judges.

“To produce the best strategy paper, we focused on reasons to buy the stock, risk management and the things to consider on practical stock market. We also came up with reliable statistics to support our paper,” Ms Molika said.

With the $5,000 cash prize, Mr Monyodham and Ms Molika plan on investing in the real stock market and hope to see the growth of the bourse in Cambodia.

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