CSX contest winners reveal their stock trading strategies
The Cambodian Securities Exchange (CSX) on Wednesday organised a seminar to reveal the trading strategy of eight winners of a stock trading competition. The winners received a high return on their investments during the competition.
The contest challenged existing investors to register with minimum start-up capital $100 in stocks listed on the CSX during a period that ran from October 30 last year, to January 18 this year.
Dentist Tieng Chhnoeum – the champion of the competition – received an eight million riel ($2,000) prize in cash.
He increased his portfolio value by a staggering 247 per cent in the three-month competition as his initial balance increased from 400,000 riel in the first day of competition to 1.39 million riel on the last day.
The runner-up was Som Ny, with a portfolio value that increased 94 per cent from 1.28 million riel on the first day to 2.49 million riel on the last day of the competition. The next six winners had a portfolio value increase of at least 85 per cent.
‘Chance to turn a profit’
Tieng Chhnoeum on Wednesday said he put in the capital to buy Grand Twins International (GTI) stock as it was just 3,300 riel per share and later traded other stock when an opportunity arose.
“I bought and sold other stock when I saw there was a chance to turn a profit. It cost me time to look at each stock’s price fluctuations and follow up news on any potential stock to trade, but it is worth it to do so to make the right decision,” he said.
During the competition, GTI’s share price increase 66 per cent from 3,300 riel to 5,500 riel. Sihanoukville Autonomous Port’s (PAS) share price increased 95 per cent, from 6,400 riel on the first day of competition to 12,500 riel on the last day while Phnom Penh Autonomous Port (PPAP) increases from 6,400 riel per share to 11,200 riel per share.
The share prices of Phnom Penh Water Supply Authority and Phnom Penh Special Economic Zone increased 40 per cent and 13 per cent during the competition period.
CSX chief operating officer Jong Weon-ha on Wednesday said the winners’ success stories – receiving a high return on their investments – reflect the important, potential growth of the Kingdom’s securities market.
“In Cambodia, many people aim to invest in real estate, but the results of the competition are strong evidence showing the potential of investment here, in CSX, to get high returns,” he said.
Weong-ha added that the market performance last year was great, with the CSX market index increasing 70 per cent, rising from 340.22 to 618.40 points.
“This is a positive sign that marks new growth for Cambodia’s stock market to continue to attract more interest from public investors,” he said.