Low trading volumes continue for local bourse
The index contracted by 0.23 percent or 1.53 points yesterday to close at 667.81 points. Trading volumes were recorded at 365,873,900 riels ($89,027) with 26,584 shares exchanged.
It was the fifth consecutive trading day with volume under half a million riels.
Individual stocks GTI, PPAP, PPSP and PAS closed at their base prices, 3,080 riels, 11,680 riels, 2,300 riels, and 14,960 riels, respectively. PWSA and ABC decreased to 5,700 riels and 17,400 riels, respectively.
Regional markets keep watch on US-China trade talks
Asian markets mostly rose yesterday, with investors keeping a wary eye on China-US trade talks planned for the weekend, which come after Washington DC-imposed sanctions on several Hong Kong officials, further straining tensions between the superpowers.
Adding to uncertainty was US lawmakers’ inability to find common ground on a much-needed new stimulus for the world’s top economy, with executive orders signed by Donald Trump considered sticking plasters for a crippling crisis.
There is a concern that the pact could be torn up because China has failed to meet certain criteria owing to the impact of the virus, a move most experts say would be devastating to a global economy that is already teetering.
Hong Kong edged lower with Tencent shedding nearly 5 percent after a similar drop Friday in reaction to the US WeChat move.
But Next Digital soared 344 percent after the arrest of Lai. Analysts said the surge was fuelled by pro-democracy activists urging investors on social media to pile into the market to support the firm.
The rest of Asia was in were positive territory with Sydney 1.8 percent higher, while Seoul and Manila were also more than 1 percent up.
Shanghai jumped 0.8 percent, Mumbai added 0.7 percent and Taipei put on 0.5 percent. London, Paris and Frankfurt all advanced in early trade.