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Business brief

Khmer Times Share:
KT/Chor Sokunthea

Market Watch: Cambodia Securities Exchange index finished flat yesterday, only rising 0.81 points to 737.66 (0.11 percent rise) after a heavy sell-off on Monday saw the local bourse drop below its record high of 833.78 points before many investors cashed in on the week’s gains.

Trading volume was at 319,354 shares and trading value at 5,991,792,440 riel s(about $1.5 million), numbers that have remained consistent since ABC listed their Initial Public Offering last week and the mass rush to purchase on Friday saw trade volume almost tripled to 830,244 shares valued at 18,442,779,340 riels.

Insiders think the local market should keep steady at the current 750 index after most short term investors have already profited from their short term ABC gains and have responded to the Q1 results released on Monday this week.

Commodities:Local mango growers will be happy after Cambodia and China scheduled to sign a “phytosanitary protocol agreement” on Tuesday next week officially allowing the shipment of fresh mangoes – a process that has so far taken years of negotiation.

Fresh mangoes are only the second fruit currently allowed to be exported to the world’s second-largest economy after bananas were given the green light in August 2018.

Khmer Times reported last month experts from both countries finalised ongoing technical problems concerning phytosanitary arrangements relating to the control of plant and fruit diseases.

During the first five months of the year, Cambodia had already exported 44,099 tonnes of the seasonal fruit to foreign markets, an increase of 51 per cent over the same period last year.

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