Cambodia stock market for 2013 and expectations for 2014

  • Fluctuation of Market Trading
  • Fluctuation of PPWSA’s Stock Tradin
  • Liquidity of the Market
  • Trading of Foreign Investors
  • Highlight Events in Cambodia Stock Market
  • Fluctuation of Market Trading

    In the beginning of 2013, Cambodia’s stock market had relatively low liquidity at the same point as the end of 2012, containing 20 consecutive trading days, and CSX index stood at 666.67 points. However, after active sessions started unexpectedly, liquidity has sharply increased since Lunar New Year 2013, and CSX index climbed to its peak on 22 February at 720.43 points, up 8.06% compared to the end of 2012.

    Then the fluctuation of market stood still and slightly declined. However, the market immediately deeply declined at the 3rd quarter of 2013 and downed to the lowest point at 516.13 in the end of September, 2013. To the end of 2013, CSX Index’s still continue to be down to 576.34 points, declined 13.55% from the end of 2012. It is a negative signal of Cambodia Securities Market provoked by influence of instability of politic since the National Election was held in the 3rd quarter of 2013.

    Fluctuation of PPWSA’s Stock Trading

    At the end of 2013, PPWSA was still the only stock listed and traded in CSX. Therefore, the fluctuation of CSX index completely depends on increasing and decreasing of PPWSA’s prices. After ending 2012 with the price of 6,200 KHR equivalent to 1.55 USD/share (100 KHR lower than the IPO price), PPWSA has had some active sessions with good liquidity, especially at the second half of February, May and June. Among those months the price of PPWSA had reached to its peak on 22 February at 6,700 KHR, up 8.06% from beginning of year. However, the price of PPWSA stock deeply declined to 4,600 KHR/share at a period (downed from 25.8% compare to beginning of year). The liquidity of PPWSA stock is very low.

    At the end of 2013, the price of PPWSA stood at 5,360 KHR (downed 13.55% compare to beginning of year) with a positive trend after Cambodia revealed the official result of National Election 2013 and politic situation started back to be stable.

    Liquidity of the Market

    We can clearly recognize the quietness of securities market of 2013 compared to beginning of 2012. The liquidity of stock declined 77.55% from average trading volume of 43,033 shares per day for year 2012 to 9,662 shares of 2013. Additionally, there were 37 trading days (16% of total trading days) in which liquidity equaled zero (there was NO matched share) on total 231 trading days in 2013.

    At the end of trading for 12 months of 2013, the total trading volume is 2,231,945 shares on the market equivalent to total trading value is 13,720,273,850 KHR (approx. 3,430,059 USD), the average trading value per trading day is 59,394,969 KHR (approx. 14,849 USD).

    Trading of Foreign Investors

    According to statistic data, foreign investors play important roles in Cambodia securities market. The foreign investor participated 67.83% of total trading volume in the market, equaled to 3,027,779 shares, and were traded successfully by foreign investors for 2013.

    To continue with tendency of net purchase at 2012, during 2013, foreign investors still focused on share purchasing more than selling during the price was low with the total successfully buy and sell of 2,003,509 and 1,024,270 shares, respectively. Thus, foreign investors have made net purchase 979,239 shares in 2013, bringing the total number of shares bought since the market was launched up to 1,517,374 shares.

    Cambodia-Vietnam Securities Plc.

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