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Market Watch

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Cambodian Securities Exchange:

The local index fell 5.23 points (0.75 percent) yesterday to 695.99 points while trading volume remained low at 328,188,360 riels ($79,698) with 24,104 individual shares exchanged.

The fall was mainly driven by ABC, PPAP and GTI which saw their price plunge to 18,100 riels, 11,520 riels, and 3,300 riels respectively. It has been the second day that PWSA has grown, closing at 5,860 riels today. PPSP also rose to 2,350 riels, while PAS remained stable.

 

International Stocks:

Stock markets rose in Asia yesterday as traders welcomed positive economic data from China and the US, which helped offset a pick-up in virus infections and the reimposition of containment measures in some countries.

The easing of lockdowns in recent months has been a key catalyst for world equities as investors – supported by a wall of government and central bank cash – bet on a sharp recovery from what is expected to be a global recession this year.

Wall Street provided a healthy lead, helped by news of a record 44 percent on-month jump in US pending home sales in June, as well as a massive improvement in manufacturing activity as reported by the Dallas Federal Reserve.

Tokyo ended the morning 1.8 percent higher, while Hong Kong rose 0.8 percent and Shanghai added 0.4 percent.

Sydney, Seoul and Wellington were all up more than 1 percent, with Singapore 0.9 percent higher and Manila and Jakarta up 0.5 percent apiece.

“Worries about second-wave states appear now to be last week’s news, so it seems, as investors turn focus to the robust reopening narrative,” said AxiCorp’s Stephen Innes.

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