CSX trade volume plummets 92 per cent in third quarter

Trade volume at the nascent Cambodia Securities Exchange (CSX) in the third quarter of this year was down 92.1 per cent on the second, the Securities Exchange Commission of Cambodia (SECC) Securities Trading Statistical Bulletin said on Tuesday.

The third quarter saw 789,943 shares traded, worth $1,708,604. This was down 94.5 per cent in value on the $30,890,436 made from the 9,982,702 shares traded in the second quarter.

Sihanoukville Autonomous Port (PAS) accounted for 40 per cent of market activity in the third quarter, with Phnom Penh Water Supply Authority (PWSA) making up 28 per cent, the SECC said.

However, market capitalisation was around $800 million in the third quarter, up 40 per cent quarter-on-quarter, while the CSX index increased 40 per cent compared to the second quarter.

CSX Market Operations Department acting director Kim Sophanita told The Post that trade volume in the second quarter had spiked due to May 21’s record-breaking sale of 9,436,267 shares of PAS, worth 120,019,494,104 riel ($29.57 million).

More than 99.9 per cent of the transactions were conducted through the Negotiated Trading Method (NTM), as opposed to the Auction Trading Method, she said.

However, according to CSX statistics regarding retail trade by NTM alone, daily average trade volume and value increased significantly in the third quarter, Sophanita said.

“Daily trade volume increased almost 20 per cent from 16,177 to 19,184 shares per day, while daily value increased almost 400 per cent from $3,849 to $19,184 per day.

“As mentioned in the report, the index and market cap increased 40 per cent over the period.

“Overall, I would say the market performed very well in the third quarter, save for there being fewer and smaller NTM trades,” she said.

The SECC said the number of investors using the NTM method to trade on the CSX reached 531, up nine per cent from the second quarter’s 485.

Local investors accounted for 66 per cent, Chinese investors 13 per cent, Japanese 12 per cent and others nine per cent, it said.

“Our data clearly shows increasing interest and participation from investors, especially from locals at 66 per cent. Chinese and Japanese [investors] are always among the top five foreign nationals trading in our market since the grand opening,” Sophanita said.

During its more than seven years in operation, the CSX has seen five companies list on its main board, as well as three financial institutions and banks issue bonds. The listed firms have raised more than $120 million, CSX data shows.

phnompenh post

 

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