CSX logs 346% market cap gain in Jan-Mar
CSX logs 346% market cap gain in Jan-Mar
The Cambodia Securities Exchange (CSX) ended the first quarter of this year with a healthy market capitalisation of 9.70 trillion riel ($2.40 billion), surging by 345.73 per cent year-on-year, as the index moved up to a score of 639.36 points, increasing by 8.25 per cent year-on-year, according to the Securities and Exchange Regulator of Cambodia’s (SERC) latest Securities Trading Statistical Bulletin.
A total of 5,534,146 shares were traded in the January-March period, increasing by 51 per cent quarter-on-quarter and 887 per cent year-on-year, with a value of around $8.61 million, up by 152 per cent quarter-on-quarter and 793 per cent year-on-year, the SERC said.
SERC director-general Sou Socheat told The Post on June 21 that the capital market performed relatively well considering the country’s ongoing fight against the February 20 community outbreak of the novel coronavirus.
“We’ve been facing the spread of the Covid-19 community outbreak, which led us to lock down for a while. And, of course, we face challenges but they have not hindered our market operations.
“I have observed that the business operations of listed firms have been proceeding as normal – for instance, the Phnom Penh Water Supply Authority [PWSA] continued to supply clean water for consumers.
“Meanwhile, our two key ports – Sihanoukville Autonomous Port [PAS] and Phnom Penh Autonomous Port [PPAP] – have been operating well. And, at the same time, Phnom Penh Special Economic Zone Plc [PPSP] continues operating as normal, so the health of the companies hasn’t been affected,” he said.
And while the garment industry suffered some setbacks from Covid-19, the sector maintained a steady flow of purchase orders, he said.
“We don’t deny that there was no impact, but we did sustain very little, especially in the garment industry, though we did see buyers continue to place orders during this period of time,” Socheat added.
CSX CEO Hong Sok Hour said the allure of earning returns at home during Covid-related travel restrictions and all-around tough times has compelled investors to shift their interest to the bourse.
“It clearly shows the uniqueness of stock market investment for the general public, as they can become owners of shares from reputable companies without spending much time establishing their own business,” he said.
The bulletin showed that the average daily trading volume and value in the first quarter was 90,724 shares and $14,118,000, and the volume of buy and sell orders was 20.55 million and 18.08 million shares.
