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Local index goes under 660

The exchange continued its downward trend yesterday dropping 0.98 percent (6.52 points) to close at 659.25. Trading volume was at 347,956,890 riels ($84,867) with 22,128 shares exchanged.

For individual stocks; ABC finished down at 17,080 riels and PAS at 15,240 riels. GTI also shrank to 3,100 riels, while PWSA rose to 5,620 riels. PPAP and PPSP remained stable.

 

NBC reaffirms large gold reserves

The National Bank of Cambodia (NBC) has confirmed that the country holds $19.5 billion in its international reserves as of the end of June.

The NBC has confirmed the figure after the World Bank predicted earlier in the year Cambodia’s international reserves would fall more than 10 percent in 2020 to $16.8 billion.

According to the NBC, it has invested in safe assets such as gold to ensure Cambodia’s international reserve are being “prudentally managed”.

Currently, the NBC holds 36.5 tonnes of gold, 12.4 tonnes of which is considered heritage and is deposited in Switzerland. While another 14.1 tonnes is being stored in the Bank of England and the remaining 10 tonnes at an undisclosed location in Cambodia.

 

International stocks remain mixed on virus and vaccine unknowns

International markets were mixed yesterday as investors juggled hopes for a new stimulus deal in Washington with Coronavirus concerns and another flare-up between China and the United States. Hong Kong and Mumbai each rose 0.7 percent, while Sydney gained 0.3 percent, Singapore climbed 0.9 percent and Jakarta put on 0.6 percent. But Shanghai fell 0.2 percent, although well off its earlier lows of more than1percent, while Seoul, Taipei, Wellington and Manila were also down.In early trade, London, Paris and Frankfurt rose.

 

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