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Market Watch

Photo taken on July 27, 2020 shows the the De Aar wind power project in South Africa. (Xinhua)

Index rises slighly as trading volumes drop

The CSX index rose slightly by 0.81 percent (5.34 points) to close at 662.52   points yesterday. Trading volumes fell to 354,521,820 riels ($86,409), with 64,262 shares exchanged.

Individual stocks PEPC decreased in price to 3,500 riel. PAS and ABC rose by 180 riels each to close at 14,800 riels and 17,260 riels respectively and GTI reached its upper price limit to close at 3,350 riels. PWSA, however, dropped to 5,740 riels and PPAP and PPSP were stable.


Renewable energy pushes over 10 percent of global energy

Wind and solar produced a record 10 percent of global electricity in the first half of 2020 as the world’s coal plant fleet ran at less than half its capacity, analysis published yesterday showed.

Despite a near-record drop in power demand because of the pandemic, renewables accounted for 1,129 terawatt-hours in January-June, compared with 992 in the first six months of 2019, according to a report by the Ember energy think tank.

Overall, the percentage of power drawn from wind and solar has more than doubled from 4.6 percent in 2015 – the year of the landmark Paris deal on climate change.

On the other hand, generation from coal – the most polluting fossil fuel – fell 8.3 percent in the first half of 2020, the analysis showed.

International markets mixed again

Equities were gain mixed in Asia and Europe yesterday following a rally on Wall Street but investors continued to fret over US lawmakers’ failure to find common ground on a new rescue package for their beleaguered economy.

All three main indexes in New York saw more sharp gains fuelled by optimism over the US economic recovery following a forecast-busting jump in inflation that indicated the key consumer sector was revving up again, while hopes for a vaccine and the wall of central bank cash were also providing support.

Asian traders extended the rally in early trade but struggled to maintain momentum.

Tokyo ended up 1.9 percent as a recent drop in the safe-haven yen boosted exporters, while Singapore and Manila also added more than  1 percent. Seoul, Taipei, Jakarta and Wellington were also higher.

But Hong Kong dipped 0.1 percent, Sydney fell 0.7 percent and Manila shed 0.4 percent.

London sank 0.9 percent after jumping more than 2 percent on Wednesday but Paris and Frankfurt were slightly higher.

*Additional reporting by AFP


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